Shares in Value Logo
Product Review Img Vertical

Date : 22/02/2021

Learn why Bank of Queensland (ASX:BOQ) buying ME Bank

Bank of Queensland shares slumped in March 2020 and performed badly until late May. However, since then, the financial sector has been boosted by the monetary policy and Bank of Queensland shares have cut-off all its losses – returning close to 40% in the past 6 months.

Members Equity Bank or ME Bank was founded 27 years ago and they have distinguished themselves as an alternative to traditional banks for Australians. It operates as a direct bank without any branch network. They have never paid a dividend to shareholders.

Earlier today, BOQ announced that they will be acquiring ME Bank completely in a deal that is worth $1.325 billion. The majority of the acquisition will be funded by the $1.3 billion capital raise that BOQ has initiated. The acquisition is reported to bring geographical diversification to the Bank of Queensland. The deal is also bid to deliver benefits in the range of $70 million and $80 million over a 3 year period.

The capital raise being done by the Bank of Queensland is expected to issue shares at a 12% discount at $7.35 per share. BOQ is a beneficiary of steps taken to kick start Australia’s economy in 2021.

Bank of Queensland shares ended trading at $8.41 a share today.

Looking for Income Stocks?

Income stocks are potentially one of the hardest to pick as there are a lot of factors that need to be considered – from industry tailwinds to financial health of the individual stocks, and a lot of little things in between them. Several ASX listed stocks have also cut dividends in light of the challenges posed by the pandemic.The low interest rate environment brings income stocks to the forefront for most investors. With the earnings season bringing back dividends in most industries, Shares in Value research team have picked their top 3 ASX income stocks to buy and it can be downloaded for free!

 

Are You Looking To Buy The Best Stocks In 2022?

Stay on top of upcoming market trends! Whether you are an SMSF investor or a young investor with your portfolio, we cover a wide range of stocks across all sectors, including mining, financials, industrials, real estate, technology, health and biotech, etc. It will give you an edge to invest and trade ASX listed stocks across large, mid and small caps with an advantage.

Get stock tips with our Market Experts. We help self-directed investors and self-managed super funds (SMSF) make smarter investment decisions and get better returns. Fill in your details and download your free Report instantly for Top 3 Dividend Stocks to buy in 2022!

 

Top 5 ASX Stocks
to Buy for Capital Growth in 2022

asx landing page
The hardest part to finding growth stocks is having an ability to understand the finer details of these companies from their valuations through to first mover advantage and having key factors on hand to make informed investment decisions.

Our experts take the guesswork out.

Download Your Free Report

By downloading this report you agree to the TERMS AND CONDITIONS and our PRIVACY POLICY

Scroll to Top

Login

By submitting this form, I agree to the TERMS AND CONDITIONS and PRIVATE POLICY

Please fill in your details to download the free dividend shares report.

We will send your report instantly. Please put your correct email address and phone number.