The Bank of Queensland Limited (ASX: BOQ) share price has been steadily rising over the past month and is up by more than 8%.

But, there are plenty of other S&P/ASX 200 Index (ASX: XJO) bank shares to pick from.

Names like Commonwealth Bank of Australia (ASX: CBA), Westpac Banking Corp (ASX: WBC), National Australia Bank Ltd (ASX: NAB), Australia and New Zealand Banking Group Ltd (ASX: ANZ) and Macquarie Group Ltd (ASX: MQG) are among the biggest businesses in Australia.

Bank of Queensland is an interesting company. It has a strong presence in Queensland, as one would expect. But, it also has two other brands – Virgin Money Australia and ME Bank.

In the current environment, could the smaller bank actually be a good pick?

Brokers are widely positive on Bank of Queensland shares  

A number of experts currently like the bank.

Credit Suisse rates it as a buy, with a price target of $10. That implies a possible rise of more than 30% over the next year.

Morgan Stanley rates the Bank of Queensland share price as a buy, with a price target of $8.10. That’s a possible rise of close to 10%.

The broker Macquarie rates it as a buy, with a price target of $8. That’s a possible rise of more than 6%.

Citi also rates the Bank of Queensland share price as a buy, with a price target of $8.75.

One of the main reasons that brokers are optimistic about Bank of Queensland in the shorter term is the rising interest rates. Experts believe that higher interest rates will help bank profit margins.

Digital transformation

Bank of Queensland is working on delivering digital transformation across the bank so that it can give customers a leading proposition while also building a clear competitive advantage and a low cost-to-income ratio.

The bank noted that a cloud-based platform will enable innovation at scale and at pace. It is using Temenos which will provide unlimited scale and services delivered at a fraction of the cost of its legacy systems.

Latest earnings recap

The last profit update from the Bank of Queensland was the FY22 half-year result.

It said that statutory net profit after tax (NPAT) rose 38% to $212 million, while cash earnings after tax increased 14% to $268 million. Operating expenses dropped 3% to $461 million. It declared an interim dividend per share of 22 cents, which was a dividend payout ratio of 53%.

However, while the housing loans grew by 9% compared to the second half of FY21, the net interest margin (NIM) declined 12 basis points to 1.74%. Bank of Queensland put this decline down to a few different factors relating to industry dynamics including ongoing competition, higher fixed rate lending volumes and volatile swap rates, and increased liquidity.

The ME Bank home loan book returned to growth during this period, while Bank of Queensland and Virgin Money grew at 1.8 times the overall system’s rate of growth.

Bank of Queensland dividend yield expectations 

There are a few different estimates of how large the Bank of Queensland dividend yield is going to be in FY22 at the current Bank of Queensland share price.

Morgan Stanley thinks that Bank of Queensland is going to pay a grossed-up dividend yield of 8.6%.

Macquarie’s estimates translate into a grossed-up dividend yield of 8.4%.

Citi’s projection for the dividend yield is 8.75%.

The post Is the Bank of Queensland share price a smart, ASX 200 bank buy? appeared first on The Motley Fool Australia.

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More reading

• How to play ASX bank shares for dividends this reporting season: expert
• Why is the Bank of Queensland share price getting a caning on Monday?
• Experts rate these high yield ASX dividend shares as buys
• What might the ANZ deal mean for Bank of Queensland shareholders?
• What might ANZ’s Suncorp deal mean for competition among ASX 200 banks?

Motley Fool contributor Tristan Harrison 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 recommended Macquarie Group Limited and Westpac Banking Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Mayne Pharma Group Limited (ASX: MYX) share price is up a healthy 5% after rocketing today amid a major company announcement.

Shares in the ASX pharmaceutical company currently trade for 35.7 cents apiece after soaring 25% to an intraday high of 42.5 cents a share just after market open.

They’re currently outperforming the broader S&P/ASX 200 Health Care Index (ASX: XHJ) which is down 1.5%. Meanwhile, the S&P/ASX 200 Index (ASX: XJO) is down 0.37% in late afternoon trade. 

Let’s find out more about why the stock is rallying.

What was announced today?

Mayne Pharma announced that it has entered into an agreement with US multinational healthcare company Catalent, Inc. (NYSE: CTLT) to sell its Metrics Contract Services business for $679 million.

Metrics is a contract development and manufacturing company (CDMO) based in North Carolina, US. The company has contracts with international biotech and pharmaceutical companies.

Mayne Pharma will receive approximately $636 million for the sale.

Commenting on the sale, Mayne Pharma chair Frank Condella said:

This transaction unlocks significant value for Mayne Pharma shareholders and creates a leaner and more focused business with financial flexibility to support its strategic priorities. The Board believes the agreement with Catalent represents an attractive opportunity for a business which has reached maturity under Mayne Pharma’s ownership.

In conjunction with the sale, Mayne Pharma has agreed on the terms of a five-year supply agreement
with Catalent to ensure supply continuity of products from the Greenville facility.

Mayne Pharma share price snapshot

Shares of Mayne Pharma Group are up 21% year to date.

This price performance is significantly beating the broader market, with the ASX 200 Index down 7.5% over the same period.

At the current share price, the company’s market capitalisation is around $622 million.

The post Mayne Pharma share price rockets 25% on $680 million payday appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• What’s going so wrong for ASX 200 tech shares on Wednesday?
• Why Graincorp, Imugene, iSelect, and Mayne Pharma shares are racing higher
• ASX investors are still feeling confident. Here’s why
• Why is ASX 200 gold share St Barbara sliding 10% today?

Motley Fool contributor Matthew Farley 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 Scott Phillips.

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The Pure Hydrogen Corporation Limited (ASX:PH2) share price is rocketing today amid the company making two announcements to the market.

Shares in the clean energy company currently trade for 42 cents each, a gain of 21.74%. Earlier in today’s session, they hit a high of 44 cents a share.

The Pure Hydrogen share price is far outstripping the S&P/ASX 200 Energy Index (ASX: XEJ) today. It’s up 0.21% while the S&P/ASX 200 Index (ASX: XJO) is down 0.07%.

Let’s discover why bulls are buying this stock.

What did the Pure Hydrogen announce today?

The company’s major news of the day is that The Kalahari Gas Corporation has been awarded a drilling contract to explore the Serowe 3 coalbed methane (CBM) project in Botswana.

Serowe 3 is a joint venture between Pure Hydrogen and Australian oil and gas company BotsGas that has extensive interests in Botswana.

The project is located in a high-grade CBM region and is expected to yield two exploration wells and four pilot wells by the end of 2023. Another Australian energy company Botala holds a 70% interest in the project and is the operator.

Botala Energy CEO Kris Martinnick said:

We are pleased to have appointed Kalahari Gas Corporation as our drilling contractor to complete near term drilling. This represents a significant step forward in the development of the Serowe CBM Project with a dedicated focus on further exploration and appraisal of the field providing growth opportunities.

Other news announced today is that Pure Hydrogen is planning to drill two wells and test a third well for its Serowe Gas Project. The project is scheduled to begin in September. 

The company is also planning to discuss potential clean energy plans with Botala Energy. Lastly, they plan to drill four more wells in 2023 as part of an appraisal and production program.

Pure Hydrogen share price snapshot

Despite today’s share price rise, shares in Pure Hydrogen are down 23% year to date. However, the company is valued at 171% more than it was a year ago.

Its 12 month performance far outperforms the ASX 200 benchmark index which has lost 7.3% in that time.

It’s also outstripping the energy sector index. It’s gained 30% in a year.

At the current share price, Pure Hydrogen’s market capitalisation is $143 million.

The post Here’s why the Pure Hydrogen share price is soaring 22% today appeared first on The Motley Fool Australia.

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More reading

• Why did the Pure Hydrogen share price pop 21% today?
• What’s going on with the Pure Hydrogen share price on Friday?

Motley Fool contributor Matthew Farley 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 Scott Phillips.

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the day in the red. At the time of writing, the benchmark index is down 0.3% to 7,007.2 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:

A2 Milk Company Ltd (ASX: A2M)

The A2 Milk share price has sunk 8% to $4.71. Investors have been selling this infant formula company’s shares after the US Food and Drug Administration (FDA) deferred further requests to import infant formula products into the United States. This appears to be a sign that infant formula supply levels are now getting back to normal after some major shortages.

Appen Ltd (ASX: APX)

The Appen share price is down 4.5% to $4.78. As well as broad weakness in the tech sector today, this artificial intelligence data services company’s shares were hit with a broker downgrade. According to a note out of Bell Potter, its analysts have downgraded Appen’s shares to a sell rating with a $4.25 price target.

Boral Limited (ASX: BLD)

The Boral share price is down 2.5% to $2.90. This morning Macquarie downgraded this building products company’s shares to a neutral rating and cut the price target on them by 21% to $3.20. The broker sees risks to the company’s performance from high energy costs and heavy rainfall.

REA Group Limited (ASX: REA)

The REA share price is down 3.5% to $127.55. In response to the property listings company’s results this week, this morning the team at UBS has downgraded REA’s shares to a neutral rating from buy with a $142.60 price target. Elsewhere, the team at Ord Minnett downgraded its shares to accumulate from buy with a $140.00 price target.

The post Why A2 Milk, Appen, Boral, and REA shares are dropping today appeared first on The Motley Fool Australia.

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More reading

• What’s going so wrong for ASX 200 tech shares on Wednesday?
• Why is the A2 Milk share price spilling 8% today?
• Guess which ASX 200 share just upped its dividend by 25%
• A2 Milk share price on watch amid FDA update
• 2 ASX 200 blue chip shares brokers rate as buys

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 positions in and has recommended Appen Ltd. The Motley Fool Australia has recommended A2 Milk and REA Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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It’s been another volatile day of trading as it currently stands this Wednesday. So far in today’s session, the S&P/ASX 200 Index (ASX: XJO) has swung from heavy losses to light losses, and back to the middle.

At the time of writing, the ASX 200 is down by a moderate 0.32% at just under 7,010 points.

So let’s dive deeper into these market moves and take stock of the shares that are presently at the top of the ASX 200’s share trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Wednesday

Core Lithium Ltd (ASX: CXO)

ASX 200 lithium stock Core Lithium is first up today. So far, a hefty 18.95 million Core Lithium shares have been traded on the share market this Wednesday. There’s been no major news out of the company at this point.

But Core Lithium seems to be extending its recent run. The company is up a healthy 2.14% today at $1.43 a share. This puts its gains over the past five trading days alone at an impressive 19.7%. It’s this rise that has probably prompted the high volumes we are seeing.

Lake Resources N.L. (ASX: LKE)

Another ASX 200 lithium stock is next up with Lake Resources. So far today, a sizeable 38.87 million Lake shares have found a new home. We have a very similar situation playing out here it seems. Like Core Lithium, Lake Resources has had a run to remember in recent days.

It’s up a pleasing 4.44% at $1.30 this Wednesday, despite no fresh news or announcements out. Lake Resources shares have now put on an extraordinary 42.3% or so over the past five trading days. So it’s perhaps no wonder so many shares are flying around.

Imugene Limited (ASX: IMU)

Breaking the lithium pattern, our third and final ASX 200 share today is biotech company Imugene. This Wednesday has had a whopping 54.14 million Imugene shares swap hands as it currently stands.

This one isn’t too hard to figure out. Imugene shares are up a solid 10% today following the release of some clinical trial updates that we covered earlier.

The post Here are the 3 most heavily traded ASX 200 shares on Wednesday appeared first on The Motley Fool Australia.

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More reading

• What’s going so wrong for ASX 200 tech shares on Wednesday?
• Why Graincorp, Imugene, iSelect, and Mayne Pharma shares are racing higher
• ASX investors are still feeling confident. Here’s why
• Why is ASX 200 gold share St Barbara sliding 10% today?
• Up 85% in a month, Lake Resources share price extends gains on Wednesday

Motley Fool contributor Sebastian Bowen 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 Scott Phillips.

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It’s been a mildly negative day of trading for the S&P/ASX 200 Index (ASX: XJO) so far this Wednesday. At the time of writing, the ASX 200 has lost 0.27% and is back to around 7,011 points. But ASX 200 tech shares are doing far worse.

The S&P/ASX 200 Information Technology Index (ASX: XIJ) is currently the worst performing ASX 200 sector by far today. The XIJ Index is presently down a painful 3.52%, far worse than any other ASX 200 sector.

And as one might expect, this has led to many ASX 200 tech shares recording some heavy losses today.

ASX 200 tech shares lead the share market’s losses

Block Inc (ASX: SQ2) and Life360 Inc (ASX: 360) seem to be leading the charge. These tech shares are currently down a painful 5.55% and 6.3%, respectively

But we also have Computershare Limited (ASX: CPU) down more than 5% and Megaport Ltd (ASX: MP1) down more than 4.5%.

REA Group Limited (ASX: REA) and Xero Limited (ASX: XRO) have both fallen by over 3% today.

Lots of pain on the ASX 200 tech share front.

So what’s going on here? Why do investors have a bee in the proverbial bonnet over the ASX 200 tech sector today?

Well, it seems the most likely explanation comes from the United States markets. Last night was a pretty grim session over in the US for tech shares. The tech-heavy NASDAQ-100 (NASDAQ: NDX) ended up dropping 1.15%.

But we had some famous individual shares falling by far more. Electric car and battery manufacturer Tesla dropped 2.44%. Chip maker NVIDIA fell by almost 4%, as did Salesforce Inc.

ASX 200 tech shares tend to take their queue from their US counterparts, perhaps more than any other ASX sector. Thus, we often see corresponding moves, in both directions, on the ASX following sessions on the US markets.

This could be what we are witnessing in the ASX 200 tech sector this Wednesday.

The post What’s going so wrong for ASX 200 tech shares on Wednesday? appeared first on The Motley Fool Australia.

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More reading

• ASX investors are still feeling confident. Here’s why
• Why is ASX 200 gold share St Barbara sliding 10% today?
• ASX 200 better buy: Wesfarmers or Woolworths?
• Guess which ASX 200 share just upped its dividend by 25%
• Computershare share price plunges 6% following FY22 results

Motley Fool contributor Sebastian Bowen has positions in Nvidia and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block, Inc., Life360, Inc., MEGAPORT FPO, Nvidia, Salesforce, Inc., Tesla, and Xero. The Motley Fool Australia has positions in and has recommended Block, Inc. and Xero. The Motley Fool Australia has recommended MEGAPORT FPO, Nvidia, REA Group Limited, and Salesforce, Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Qantas Airways Limited (ASX: QAN) share price has held a steady flight path throughout the day and is rangebound at the time of writing.

On last check, shares in the flying Kangaroo are 22 basis points higher on the day at $4.64 on no news.

In broad market moves, the S&P/ASX 200 Hotels Restaurants & Leisure Index (AXHRJD) is up less than 1% on the day. Yearly returns for Qantas are seen below.

What’s up with the Qantas share price?

Anyone keeping up with Australian news would be familiar with the current issues facing airlines with respect to baggage handling and processing delays.

If you haven’t – it’s as simple as that. Qantas in particular has been facing substantial delays and an increased rate of mishandled baggage.

The rate of baggages mishandled is now at 0.009%, or 9 in every 1,000 –which, might not seem like much, but when multiplied of hundred’s of thousands (perhaps even millions) of baggage items, the numbers start to stack up.

In response to the challenges, Qantas announced today that it will be increasing the waiting times between domestic to international flights by 30 minutes, in order to slow the pace of foot traffic through the airport.

Specifically, those travellers flying Qantas out of Australian airports will only have the option of a 90 minute connection time (60 minutes previously).

The moves are designed to reduce the number of baggage faults and hopefully improve the airline’s sluggish operating performance, after it made 1,700 employees redundant back in 2020, by outsourcing its baggage ground handling.

It’s thought today’s decision will attempt to “[bring] operations back to pre-COVID standards” as CEO Alan Joyce said, as Qantas continues to battle with ongoing staff shortages and worker-union action.

The Qantas share price is up nearly 3% for the past 12 months of trade.

The post Why is the Qantas share price beating the ASX 200 today? appeared first on The Motley Fool Australia.

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More reading

• ‘Downside is less severe’: Why some brokers are still bullish on the Qantas share price
• Qantas share price descends as management recruited for ground-handling work
• Brokers name 3 ASX shares to buy today
• Why Core Lithium, European Lithium, Incannex, and Qantas shares are pushing higher
• ‘Higher costs and lower capacity’: Why this broker tips the Qantas share price to nosedive

Motley Fool contributor Zach Bristow 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 Scott Phillips.

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and dropped into the red. At the time of writing, the benchmark index is down 0.3% to 7,010.8 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are racing higher:

Graincorp Ltd (ASX: GNC)

The Graincorp share price is up almost 6% to $8.08. This morning the grain exporter upgraded its earnings guidance for FY 2022. For the 12 months ending 30 September, Graincorp now expects underlying EBITDA to be in the range of $680 million to $730 million (from $590-$670 million) and underlying net profit after tax in the range of $365 million to $400 million (from $310-$370 million).

Imugene Limited (ASX: IMU)

The Imugene share price is up 10% to 29.7 cents. This follows news that the biotech company has dosed the first patient from the third cohort in the Checkvacc study at the City of Hope hospital in the US. The aim of this study is to activate the immune system of cancer patients to treat and eradicate tumours.

iSelect Ltd (ASX: ISU)

The iSelect share price has rocketed 73% higher to 27.75 cents. Investors have been buying this price comparison website operator after it accepted a takeover offer from Innovation Holdings Australia – the owner or rival website https://ift.tt/bGpyok5. The iSelect board is recommending shareholders vote in favour of the 30 cents per share offer at an upcoming scheme meeting.

Mayne Pharma Group Ltd (ASX: MYX)

The Mayne Pharma share price is up 6% to 36 cents. This morning this pharmaceutical company announced the sale of its Metrics Contract Services business to Catalent for cash consideration of US$475 million (~A$679 million). Allowing for reinvestment needs, the net proceeds from the sale will be used to repay the syndicated debt facility and to return surplus capital to shareholders.

The post Why Graincorp, Imugene, iSelect, and Mayne Pharma shares are racing higher appeared first on The Motley Fool Australia.

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More reading

• Why is the GrainCorp share price up 7% today?
• The CBA share price looks downright expensive
• Imugene share price lifts 11% on clinical trial update
• iSelect share price explodes 75% on takeover news
• Here are the top 10 ASX 200 shares 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. 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 Scott Phillips.

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Those who own shares in S&P/ASX 200 Index (ASX: XJO) supermarket operator Coles Group Ltd (ASX: COL) could be in for a good few years, with one top broker tipping the company to pay out 23% more dividends in financial year 2023 than it did in financial year 2021.

The broker is also feeling hopeful about the stock’s final dividend of financial year 2022, to be announced later this month.

The Coles share price is currently $18.81, 0.53% higher than its previous close.

For context, the ASX 200 is trading slightly lower today, falling 0.24%.

Let’s take a closer look at why Citi is bullish on Coles and its dividends.

Could Coles shares pay 75 cents of dividend in FY23?

Coles emerged as an ASX dividend share in 2018 shortly after the company was spun-out from Wesfarmers Ltd (ASX: WES). Here’s how its fully fully-franked dividends have grown over the years:

• Financial year 2019 saw Coles offer 35.5 cents per share
• That increased to 57.5 cents per share for financial year 2020
• It was upped once more to reach 61 cents per share for financial year 2021

And it’s been tipped to continue growing its dividends into the future, as my Fool colleague James reports.

Citi believes Coles will pay out 65 cents per share for last financial year. Meaning, Coles’ next final dividend is expected to come in at 32 cents.

The broker also tips the company to offer shareholders 75 cents per share in financial year 2023 – a whopping 22.95% more than its most recent full year payout.

Whether the broker’s expectations are realised will be revealed soon. The supermarket operator is set to release its full-year earnings for financial year 2022 – alongside the details of its next dividend – on 24 August.

The broker has also slapped Coles shares with a $21 price target and a buy rating. That represents a potential 12% upside on its current level.

The post Top broker tips Coles shares to pay 23% more dividends in FY23 appeared first on The Motley Fool Australia.

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• ASX 200 better buy: Wesfarmers or Woolworths?
• Brokers name 2 ASX dividend shares to buy
• 2 little-to-no-debt ASX 200 shares to buy in a downturn: fundie
• Is Coles an underrated ASX 200 dividend share with potential?
• Top brokers name 3 ASX shares to buy next week

Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 positions in and has recommended COLESGROUP DEF SET and Wesfarmers Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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You may be wondering why the Australian Foundation Investment Co. Ltd (ASX: AFI) share price is backtracking today.

At the time of writing, the listed investment company’s (LIC) shares are down 2.45% to $7.95 apiece.

Let’s take a closer look at what’s dragging down AFIC shares on Wednesday.

Shareholders lock in the AFIC dividend

With the earning seasons moving along, AFIC shares are trading ex-dividend today.

This comes after the LIC released its FY22 scorecard on 25 July, reporting double-digit growth across key financial metrics.

The board, however, opted to maintain its final dividend against the prior corresponding period.

The ex-dividend date is particularly important as it determines which shareholders will receive the company’s latest dividend.

If you held AFIC shares at yesterday’s market close, you will be eligible for the final dividend.

When can shareholders expect to be paid?

For those lucky enough to make it on the company’s register on time, you’ll receive a dividend payment of 14 cents per share on 30 August.

The dividend is fully franked at a corporate tax rate of 30%, which means you will receive some tax credits.

In addition, you can elect for the dividend reinvestment plan (DRP) which will add a portion of shares to your portfolio instead. This will be based on a five-day volume-weighted average price (VWAP) from 10 August to 16 August.

The DRP discount rate is set at 5% and the last election date to opt in is on 12 August.

AFIC share price summary

After reaching a 52-week low of $7.40 on 20 June, the AFIC share price has rebounded these past few months.

Although, its shares are just below a key resistance level of around the $8.20 mark

If it can break this level, then AFIC shares could top out to $8.50 if the market remains stable.

Based on today’s price, AFIC commands a $9.7 billion market capitalisation and has a trailing dividend yield of 3.15%.

The post Why is the AFIC share price sliding today? appeared first on The Motley Fool Australia.

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More reading

• The CBA share price looks downright expensive
• Why I prefer AFIC shares to an ASX 200 index fund today
• Keen to bag the next AFIC dividend? Read this
• Why did the AFIC share price have such a top run in July?
• Why is the AFIC share price outperforming on Monday?

Motley Fool contributor Aaron Teboneras 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 Scott Phillips.

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