Category: Stock Market

If you own shares in BHP Group Ltd (ASX: BHP) you won’t be invested in hydrogen-powered steelmaking any time soon, according to the company’s boss.

BHP’s CEO Mike Henry spoke at an industry conference on Thursday. He reportedly said he didn’t believe BHP will be using hydrogen to decarbonise the company’s activities any time soon.

Additionally, Henry purportedly thinks hydrogen-based steelmaking won’t be common for another 2 to 3 decades.

The BHP share price finished the week just been trading at $37.73, 2.3% higher than it started it.

Let’s take a closer look at the company’s CEO’s view on the future of hydrogen.

Has BHP turned its back on hydrogen?

Those invested in BHP shares shouldn’t anticipate the company embracing a hydrogen-powered future – at least not for a little while.

According to reporting by S&P Global Platts, BHP’s CEO Mark Henry told the Financial Times’ 2021 Mining Summit the company won’t be working towards using hydrogen in its production any time soon.

He also reportedly said widespread use of hydrogen as a fuel source in the steelmaking industry is decades away.

Henry’s view of hydrogen is the opposite of that of some of BHP’s peers.

Fellow iron ore giant, Fortescue Metals Group Limited (ASX: FMG) is working toward a green hydrogen-powered future.

Green hydrogen differs from regular hydrogen as its made using renewable energy.

It’s a key part of Fortescue’s Fortescue Future Industries initiative. The company recently designed and constructed a hydrogen powered truck and drill rig, and believes hydrogen is a key energy source in the decarbonisation of heavy industry.

Henry reportedly also believes in the potential to use hydrogen as a fuel source for direct reduced iron (DRI).

Though, he doesn’t think hydrogen will be used widely in the industry for another 20 to 30 years. S&P Global Platts quoted Henry as saying:

Hydrogen will have its day, but it’s going will take some time to get there given current economics… and the massive quantity of capital needed to develop green DRI.

He also reportedly pointed to the steel industries of China and India, saying the capital sunk into coal-fired blast furnaces would discourage the uptake of hydrogen-powered alternatives.   

The company is still working towards decarbonisation, but it’s doing so using other, more technologically focused methods.

The post Own BHP (ASX:BHP) shares? Here’s why the miner won’t be jumping onboard the hydrogen train appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Telstra Corporation Ltd (ASX: TLS) share price has been on fire in 2021.

Since the start of the year, the telco giant’s shares have gained a remarkable 29%.

This means the Telstra share price is outperforming the ASX 200 by some distance. In fact, it is even outperforming the Zip Co Ltd (ASX: Z1P) share price!

Can the Telstra share price hit $4.50 by the end of the year?

The good news for shareholders is that one leading broker believes the Telstra share price can rise even further.

According to a recent note out of Morgans, its analysts have put an add rating and $4.44 price target on the company’s shares.

Based on the current Telstra share price of $3.89, this implies potential upside of 14% over the next 12 months.

And with Morgans expecting another fully franked dividend of 16 cents per share in FY 2022, the potential return increases to over 18% including this.

All in all, this broker appears to believe there’s a reasonable chance the Telstra share price could be nearing $4.50 by the end of the year.

Why is the broker bullish?

Morgans came away from Telstra’s recent T25 event feeling very positive on the company’s future.

It commented: “With T22 now upon us, Telstra’s investor day focused on aspirations for T25 (from FY23 to FY25), and they didn’t disappoint. The crux of the investor day commentary is that the worst is now behind TLS. Earnings bottomed in FY20. Underlying earnings, and maybe even the dividend, are expected to grow at a reasonable pace over the next four years.”

In addition, the broker highlights that industry trends are positive and feels the sum of the parts (SOTP) for the company is worth more than the Telstra share price implies.

It concluded: “Industry dynamics have turned positive (NBN and mobile prices are increasing after 5 years of declines; TLS’s targets imply they continue to rise); The SOTP for TLS is worth more than the current share price (and steps to release this value are underway; albeit timing is unclear); and Underlying earnings returned to growth in 2H21 and should continue growing out to FY25.”

The post Could the Telstra (ASX:TLS) share price reach $4.50 by the end of 2021? appeared first on The Motley Fool Australia.

More reading

• Why these experts say the Telstra (ASX:TLS) share price is tempting right now
• 3 ASX shares protected from rising inflation and interest rates
• Here’s what happened to the Telstra (ASX:TLS) share price in September
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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It certainly was a very positive week for the S&P/ASX 200 Index (ASX: XJO). The benchmark index jumped 1.9% to end the period at 7,320.1 points.

While a good number of shares rose with the market, some climbed more than most. Here’s why these were the best performers on the ASX 200 last week:

Perenti Global Ltd (ASX: PRN)

The Perenti share price was the best performer on the ASX 200 with a 15.2% gain over the five days. A good portion of this came on the final day of the week following the mining services company’s annual general meeting. At the meeting management spoke positively about the future, noting that investments have been made to support its sustainable growth.

Westgold Resources Ltd (ASX: WGX)

The Westgold Resources share price wasn’t too far behind with a gain of 11.6%. Last week the gold miner revealed that it has received significant incoming positive engagement from shareholders of Gascoyne Resources Limited (ASX: GCY) regarding its takeover approach from a week earlier. As a result, it is planning to push ahead with an offer. It has also encouraged Gascoyne shareholders to “demand that its Board act in the best interests of Gascoyne shareholders and be provided the opportunity to consider and accept the Westgold Offer.”

Collins Foods Ltd (ASX: CKF)

The Collins Foods share price was a strong performer and jumped 10% last week. The catalyst for this was news that the quick service restaurant operator has signed an agreement with KFC Europe. According to the release, Collins Foods will become KFC’s corporate franchisee in the Netherlands. This means Collins Foods has the rights to develop, manage, and operate the KFC business in the country. The agreement provides a framework for the development of up to 130 new KFC restaurants over a 10-year period.

NRW Holdings Limited (ASX: NWH)

The NRW share price was on form and charged 10% higher over the five days. This was despite there being no news out of the mining services company last week. Though, it is worth noting that last month the team at Macquarie retained their outperform rating and $2.20 price target on its shares. This is notably higher than where the NRW share price trades currently.

The post These were the best performing ASX 200 shares last week appeared first on The Motley Fool Australia.

More reading

• Can the Wesfarmers (ASX:WES) share price reach $60 by Christmas?
• These were the worst performing ASX 200 shares last week
• Here are the top 10 ASX shares today
• Own Brickworks (ASX:BKW) shares? Here’s what you’re invested in
• These 3 ASX 200 shares are the most popular by trading volume today

Motley Fool contributor James Mickleboro owns shares of Collins Foods Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Collins Foods Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Could it be possible for the Wesfarmers Ltd (ASX: WES) share price to rise to $60 by Christmas? That would suggest a 9% increase of Wesfarmers shares on the next two and a half months if it were to happen.

The Wesfarmers share price has actually already been as high as $66 this year. The company has actually dropped by around 17% from there.

Since 20 August 2021, the S&P/ASX 200 Index (ASX: XJO) has fallen by around 2%. That shows that Wesfarmers shares have materially underperformed the ASX 200 in that time.

What’s happening for the company at the moment?

Takeover battle

Wesfarmers is currently trying to buy Australian Pharmaceutical Industries Ltd (ASX: API), which owns a few different businesses including Priceline Pharmacy.

The retail conglomerate has offered $1.55 per share to buy the whole business. Wesfarmers is currently progressing with its confirmatory due diligence investigations for its proposed purchase.

A couple of weeks ago, Sigma Healthcare Ltd (ASX: SIG) also offered to acquire API. Wesfarmers believes that its offer is better than Sigma’s.

The company announced this week that it was buying 95.1 million shares, being 19.3% of API, from Washington H. Soul Pattinson and Co. Ltd (ASX: SOL). With this stake, it’s going to vote against any proposal by Sigma that is put to shareholders.

Wesfarmers managing director Rob Scott said the Wesfarmers proposal would deliver an attractive premium and certain cash return to API shareholders:

Wesfarmers continues to see opportunities to invest in and strengthen the competitive position of API and its community pharmacy partners. Exercising our option to acquire 19.3% of API reflects the group’s commitment to the transaction and the continued progress of the Wesfarmers proposal.

Could the Wesfarmers share price hit $60?

The broker UBS certainly thinks so. Indeed the price target is actually $62. However, that is where UBS thinks Wesfarmers could be in 12 months from now – not necessarily by Christmas.

UBS currently rates Wesfarmers as ‘neutral’, though it thinks the API acquisition could be good if it goes ahead and add to profit.

Wesfarmers has said that API could form the start of a healthcare division and a platform from which to invest and develop capabilities in the growing health, wellbeing and beauty sector.

At the current Wesfarmers share price, it’s valued at 27x FY22’s estimated earnings by UBS.

How is trading going?

When the company announced its FY21 result, it gave a trading update for its different businesses for the first couple of months of FY22.

Bunnings, by the far the biggest profit generator, had seen sales decline 4.7% with solid growth from commercial customers, offset by a decline in consumer sales as the business cycled elevated demand in the prior period. Compared to two years ago, sales were up 24.4%.

Combined Kmart and Target sales were down 14.3%, reflecting the significant impact of COVID-19 restrictions such as store closures. In the middle of August, almost half of its stores were closed across Australia and New Zealand.

Catch gross transaction value was down 8.5% year on year, though up 112.5% compared to two years ago.

Finally, Officeworks sales were down 1.5% year on year, though it was up 31.1% over a two-year period.

The post Can the Wesfarmers (ASX:WES) share price reach $60 by Christmas? appeared first on The Motley Fool Australia.

More reading

• These were the worst performing ASX 200 shares last week
• Here are the top 10 ASX shares today
• Own Brickworks (ASX:BKW) shares? Here’s what you’re invested in
• These 3 ASX 200 shares are the most popular by trading volume today
• Why do Pilbara Minerals (ASX:PLS) shares keep topping the volume charts?

Motley Fool contributor Tristan Harrison owns shares of Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Washington H. Soul Pattinson and Company Limited and Wesfarmers Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) was on form and recorded its first weekly gain in over a month. The benchmark index rose 1.9% to end the period at 7,320.1 points.

Unfortunately, not all shares were able to follow the market higher. Here’s why these were the worst performers on the ASX 200 last week:

EML Payments Ltd (ASX: EML)

The EML Payments share price was the worst performer on the ASX 200 last week with a 15.7% decline. The catalyst for this was the release of an update on regulatory action by the Central Bank of Ireland (CBI). The CBI revealed that it is planning to take action against EML’s PFS Card Services (Ireland) business. While no financial details have been provided by EML, it warned that the potential directions “could materially impact the European operations of the Prepaid Financial Services (PFS) business.”

Nanosonics Ltd (ASX: NAN)

The Nanosonics share price was the next worst performer with a 6.3% decline over the five days. This was despite there being no news out of the infection prevention company. This latest decline means the Nanosonics share price has now lost almost a third of its value in 2021.

Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)

The Fisher & Paykel Healthcare share price wasn’t far behind with a decline of 5.9%. This is despite the company announcing the launch of its new Evora Full sleep apnoea mask. A broker note out of UBS may have offset this news. Its analysts were pleased with the launch of a new mask, which is in line with current industry trends. However, UBS continues to believe its shares are overvalued at the current level and retained its sell rating and NZ$22.65 (A$21.50) price target.

Mesoblast limited (ASX: MSB)

The Mesoblast share price was out of form and dropped 5.8% last week. This means the biotechnology company’s shares have now lost 54% of their value since this time last year. While there was no news out of Mesoblast last week, concerns over its precarious balance sheet have been weighing on its shares this year. Unless it has significant trial success, there are fears the company will have to raise funds yet again.

The post These were the worst performing ASX 200 shares last week appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX shares today
• Own Brickworks (ASX:BKW) shares? Here’s what you’re invested in
• Which shares are set to finish the week as the top movers on the ASX 300?
• Why Clinuvel, EML, Regal, & Whitehaven Coal shares are sinking
• These 3 ASX 200 shares are the most popular by trading volume today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended EML Payments and Nanosonics Limited. The Motley Fool Australia owns shares of and has recommended EML Payments and Nanosonics Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Are you looking for some dividend shares to boost your income portfolio?

If you are, then you might want to look at the ones listed below. Here’s why these ASX 200 dividend shares could be in the buy zone:

Australia and New Zealand Banking GrpLtd (ASX: ANZ)

If you don’t already have exposure to the banking sector, then it may be worth considering ANZ. It could be an ASX 200 dividend share to buy according to the team at Morgans. The broker currently has an add rating and $34.50 price target on its shares.

Morgans likes ANZ due to its attractive valuation, cost reduction plans, and its strong balance sheet.

The broker is also expecting the bank’s dividend to grow nicely in the coming years. It has pencilled in fully franked dividends per share of $1.45 in FY 2021 and then $1.65 in FY 2022.

Based on the current ANZ share price of $27.96, this will mean yields of 5.2% and 5.9%, respectively.

South32 Ltd (ASX: S32)

Investors that are happy to invest in the mining sector might want to take a look at this mining giant. South32 could be an ASX 200 dividend share to buy thanks to expectations for bumper free cash flows and returns for investors in the coming years.

The miner has exposure to a range of commodities such as alumina, aluminium, energy coal, metallurgical coal, manganese ore, nickel, silver, lead, and zinc. Some of these, such as aluminium and coal, are commanding sky high prices at present.

Goldman Sachs is very positive on South32 and is forecasting huge dividends in the coming years. It expects dividends per share of 29 US cents (39.8 Australian cents) in FY 2022 and 31.9 US cents (43.9 Australian cents) in FY 2023.

Based on the latest South32 share price of $3.58, this will mean fully franked yields of approximately 11.1% and 12.2%, respectively.

Goldman has a conviction buy rating and $4.00 price target on its shares.

The post 2 ASX 200 dividend shares to buy next week appeared first on The Motley Fool Australia.

More reading

• Westpac and other ASX 200 banks face renewed shareholder pressure over climate policies
• ASX 200 (ASX:XJO) midday update: EML crashes, mining shares rise
• ANZ (ASX:ANZ) share price flat despite BNPL plans
• What to expect from the ANZ (ASX:ANZ) FY 2021 result this month
• What happened for the ANZ share price in the FY22 first quarter?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Today, the S&P/ASX 200 Index (ASX: XJO) ended the week on a positive note. The benchmark index gained 0.87% higher to 7,320.1 points.

Investors were treated to a strong showing on Friday. The broad market was flushed with green across all sectors, with materials and tech shares leading the pack. On the other hand, real estate shares lagged behind, although still posting a gain for the sector as a whole.

The question is: which shares delivered the biggest returns to investors on the ASX today? Here are the ten stocks that rose to the occasion:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Chalice Mining Ltd (ASX: CHN) was the biggest gainer today. Shares in the gold mining company rallied 7.36% despite no announcements from the company. Find out more about Chalice Mining here.

The next biggest gaining ASX share today was Magellan Financial Group Ltd (ASX: MFG). The fund manager gained 5.58%, once again, without any announcements today. Uncover the latest Magellan Financial details here.

Today’s top 10 biggest gains were made in these ASX shares:

ASX-listed company	Share price	Price change
Chalice Mining Ltd (ASX: CHN)	$6.27	7.36%
Magellan Financial Group Ltd (ASX: MFG)	$33.90	5.58%
Coronado Global Resources Ltd (ASX: CRN)	$1.52	4.47%
Rio Tinto Ltd (ASX: RIO)	$100.40	4.00%
Nickel Mines Ltd (ASX: NIC)	$0.94	3.87%
ALS Ltd (ASX: ALQ)	$13.13	3.79%
Domain Holdings Australia Ltd (ASX: DHG)	$5.64	3.49%
Iress Ltd (ASX: IRE)	$11.60	3.48%
Super Retail Group Ltd (ASX: SUL)	$12.77	3.15%
BHP Group Ltd (ASX: BHP)	$37.74	3.00%

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check-in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

More reading

• Own Brickworks (ASX:BKW) shares? Here’s what you’re invested in
• Which shares are set to finish the week as the top movers on the ASX 300?
• These 3 ASX 200 shares are the most popular by trading volume today
• Why do Pilbara Minerals (ASX:PLS) shares keep topping the volume charts?
• Top brokers name 3 ASX shares to sell today

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Super Retail Group Limited. The Motley Fool Australia owns shares of and has recommended Super Retail Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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What better way to end the week than to set an all-time high. That is exactly what the Beacon Lighting Group Ltd (ASX: BLX) share price ended up doing today.

At the end of Friday’s session, shares in the lighting retailer were 6.82% higher to $2.35. However, the surging share price reached an intraday high of $2.41 around lunchtime — cementing a new record high price for the company. Prior to this, we would have to go all the way back to 2015 to see a share price close to this.

While the achievement is notable, the catalyst for the rise is somewhat a mystery. Though, there are a couple of points that could be worth looking at.

Stability brought to management

This afternoon, an announcement was released relating to performance rights and options in the company. According to the release, a total of 215,352 performance rights with a zero exercise price have been issued to Beacon Lighting executives.

Furthermore, these options have an expiration date of 24 June 2031. Though, the important detail is that two-thirds of these options will be subject to terms of employment. Namely, the executives will need to still be employed on 19 August 2022 and 19 August 2023 to exercise these issued options.

Perhaps investors were optimistic about this news, as it incentivises the current management team to stay right where they are, rather than suddenly upending themselves. Hence, the options incentive can help reduce volatility inside the company, which would be good for the Beacon Lighting share price.

Additionally, the results of the company’s annual general meeting were decided on Tuesday. The outcomes included the re-election of deputy chair Eric Barr; adoption of the remuneration report; and the issuing of performance rights to CEO Glen Robinson.

Beacon Lighting share price snapshot

Shareholders of the lighting retailer have far exceeded benchmark returns over the 12 months. Specifically, the Beacon Lighting share price has returned 80.8% in the past year. For context, the S&P/ASX 200 Index (ASX: XJO) gained 20% during the same timeframe.

In addition, the company not only kept paying shareholders dividends but also increased the payments in 2021. Total dividends paid this year are 8.8 cents per share — representing a 76% increase on 2020.

The post Why is the Beacon Lighting (ASX:BLX) share price jumping 7% to record highs? appeared first on The Motley Fool Australia.

More reading

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Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Shares in investment banking giant Macquarie Group Ltd (ASX: MGQ) edged higher in the afternoon today and finished trading at $182 apiece.

That’s a shade off its all-time high of $183.71 which it hit in early trade this morning.

These are impressive results for the bank, which has rallied 6.5% in the last month and recovered from a previous low of $171.93 on 21 September.

Why don’t we dive in and see what’s been fuelling this growth in the Australian banking group’s share price lately.

What tailwinds are behind the Macquarie share price?

Taking a step back and looking at a wider time frame, it was a good month in September for Macquarie’s share price.

Early last month the bank gave an investor presentation detailing its outlook for the coming periods.

From its presentation, the company expects a significant increase in operating profit for the first quarter of FY22, due to the sale of some of its business segments, and strengths in others.

It did, however, say it expects a slight down-step in earnings from the second half of FY21, but that it still expects significant year on year growth in its FY22 first half results.

Aside from this, Macquarie believes it is well positioned to capitalise on tailwinds that have emerged from its investments into renewable energy.

Macquarie is a large green and renewables investor, with over $2 billion in current funding commitments on its books, and another $45 million ready to support green energy.

With this, it believes it will continue to deliver outsized returns over the coming years, as energy production and consumption trends begin to shift away from fossil fuels.

Investors have been buying the company’s growth narrative this past month, and appear to be pricing in the company’s future growth potential with this flurry of buying activity.

Can Macquarie keep it up to justify its all-time high share price?

One leading broker seems to think so. Analysts at investment firm Jeffries believe the company has the legs to outperform the consensus view at its upcoming half-year results.

Jeffries forms its view partly due to the recent turbulence in global gas markets, but also see’s strengths from Macquarie recently gaining market share in the home and business loans markets.

It also believes that with the upcoming 2021 COP26 UN Climate Change Conference just around the corner, Macquarie could be on the receiving end of favourable government initiatives that may follow the conference.

Not only that, in terms of market size, Macquarie’s total addressable market in this segment is “far bigger than (its) present $66 billion market capitalisation”, which is a bullish signal, according to Jeffries.

As such, it has a $211 price target on the Macquarie share price, implying a 16% upside potential from the last market price.

Macquarie shares are also up 41% in the last year, ahead of the S&P/ASX 200 index (ASX: XJO)’s return of around 25% in this time.

The post Why the Macquarie (ASX:MQG) share price hit its all-time high on Friday appeared first on The Motley Fool Australia.

More reading

• How did the Macquarie (ASX:MQG) share price perform in September?
• The most important catalyst for outperforming ASX shares: fund manager
• 2 compelling ASX shares that could be buys in October 2021
• How does the Westpac (ASX:WBC) dividend compare to the banking sector?
• These were the best performing ASX bank shares in September

The author Zach Bristow has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Bank of Queensland Limited (ASX: BOQ) share price has finished Friday in the red. However, the $6.2 billion bank’s shares hit a new 52-week high in the early hours of trade.

At the end of the session, shares in Bank of Queensland finished 0.31% lower to $9.71. Although, they had reached a high of $9.84 within 30 minutes of opening trade.

Despite the accomplishment, there’s not much news out from the company — aside from informing shareholders of the date for its annual general meeting, which is expected to be held on 7 December 2021.

With that in mind, let’s recap what has been going on recently at the Bank of Queensland, and what may lie ahead.

Upcoming full-year results

Investors have been displaying eagerness towards the BOQ share price in recent weeks. Shares have climbed as much as 7.4% in the past 16 days. This rally comes in the lead-up to the company announcing its full-year results for FY21 on 13 October 2021.

If the FY21 result from Commonwealth Bank of Australia (ASX: CBA) was anything to go by, Bank of Queensland shareholders could be in store for a solid result. For reference, the smaller bank reported its half-year results back in April — which involved impressive numbers of its own.

In its first half, the Bank of Queensland reported a 9% increase in cash earnings after tax to $165 million. Consequently, the bank declared a 17 cent per share interim dividend, which was up from 6 cents per share in 1H FY20.

Furthermore, the upcoming full-year result will be the first to include contributions from ME Bank. On 1 July 2021, the Bank of Queensland completed its acquisition of Members Equity Bank for a total cash consideration of $1.325 billion.

No doubt shareholders will be watching the FY21 result closely to get a glimpse of how the integration of ME Bank is travelling.

Bank of Queensland share price snapshot

The BOQ share price has performed exceptionally well over the past year. In fact, the smaller Aussie bank contender has outpaced the gains experienced by the big four banks.

Across the 12-month period, the smaller bank has delivered a return of 59%. Meanwhile, the next closest competitor is CBA with a gain of 54% over the same period.

The post Bank of Queensland (ASX:BOQ) share price hits 52-week high on Friday appeared first on The Motley Fool Australia.

More reading

• Top broker tips Bank of Queensland (ASX:BOQ) share price as a buy
• 5 things to watch on the ASX 200 on Wednesday
• If you invested $1,000 in Bank of Queensland (ASX:BOQ) shares a decade ago, here’s what it would be worth now
• Why Bank of Queensland (ASX:BOQ) shares are up 66% in the past 12 months
• The ASX 200 banks may be in danger as half of mortgage-stressed households have “borrowed to the hilt”

Motley Fool contributor Mitchell Lawler owns shares of Commonwealth Bank of Australia. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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