The Bank of Queensland (ASX:BOQ) share price is up 5% in 2 weeks

The Brisbane-based bank has been exciting investors over the last 2 weeks – despite the market being down.

| More on:
A farmer in a field of crops with arms in the air rejoices as he welcomes rain.

Image Source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Bank of Queensland Limited (ASX: BOQ) share price is having a fortnight to remember.

Over the past 2 weeks, shares in the financial institution have risen 4.97%. At the close of market today, Bank of Queensland shares finished at $9.70 (1.25% higher on yesterday's close). For context, the S&P/ASX 200 Index (ASX: XJO) is 0.41% lower over the same (also 0.41% lower on yesterday's close).

While the company hasn't made any significant announcements in this time, there may be some factors that explain what's going on.

Let's take a closer look.

Bank of Queensland shares are heading north

One reason for the rising Bank of Queensland share price may be positive broker notes coming out about the company.

As The Motley Fool has previously reported, analysts at JPMorgan have rated the Brisbane-based bank as the third-best financial share on the market, behind Macquarie Group Ltd (ASX: MQG) and National Australia Bank Ltd. (ASX: NAB). Goldman Sachs analysts believe Bank of Queensland shares could reach as high as $9.90 and Morningstar Quantitative believes its shares could get as high as $10.34.

Another possible reason is simply that most ASX bank shares have been doing well for a variety of reasons. For example, the NAB share price is 3.83% higher, the Commonwealth Bank of Australia (ASX: CBA) share price is 2.49% greater, while the Macquarie share price has increased 8.98% – all within the space of 2 weeks.

There are many reasons for the rising financial sector. These include improved investor expectations, perceived stability of banking shares, or forecasted long-term economic stability. Whatever the reason, banking shares, in general, have been overperforming the ASX 200 over the last 2 weeks.

Bank of Queensland share price snapshot

Over the past 12 months, the Bank of Queensland share price has increased 60.35%. Year to date, shares in the bank have appreciated by 29.07%. It's outperformed the CBA share price, the Westpac Banking Corp (ASX: WBC) share price, and slightly underperformed the NAB share price during these aforementioned periods.

Bank of Queensland has a market capitalisation of approximately $6.2 billion.

Motley Fool contributor Marc Sidarous owns shares of Westpac Banking Corporation. 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.

More on Bank Shares

A man casually dressed looks to the side in a pensive, thoughtful manner with one hand under his chin, holding a mobile phone in his hand while thinking about something.
Bank Shares

$10,000 invested in NAB shares 5 years ago is now worth…

NAB shares have delivered some benchmark smashing returns over the past five years.

Read more »

A man casually dressed looks to the side in a pensive, thoughtful manner with one hand under his chin, holding a mobile phone in his hand while thinking about something.
Bank Shares

Will CBA shares continue to outperform BHP shares over the next 5 years?

Which of these two giants will perform best? Let's find out.

Read more »

Bank building with the word bank in gold.
Bank Shares

What price targets does Macquarie have on the big 4 banks?

Here's what the broker has to say about the big 4 bank share prices.

Read more »

A man holds his hand under his chin as he concentrates on his laptop screen and reads about the ANZ share price
Bank Shares

Should I buy ANZ shares today?

With a 5.7% dividend yield, are ANZ shares a good buy right now?

Read more »

A woman sits at her computer with her hand to her mouth and a contemplative smile on her face as she reads about the performance of Allkem shares on her computer
Bank Shares

Can Bank of Queensland shares keep outperforming the other ASX 200 bank stocks into 2026?

A leading expert offers his verdict on what’s ahead for Bank of Queensland shares.

Read more »

A man in a suit smiles at the yellow piggy bank he holds in his hand.
Bank Shares

Forget CBA shares, Ord Minnett says this ASX bank stock could rocket 50%+

Let's see which bank stock could be a better buy.

Read more »

ASX 200 shares broker downgrade origami paper fortune teller with buy hold sell and dollar sign options
Broker Notes

Are Bendigo Bank shares a buy, hold or sell? Here's Macquarie's latest recommendation

Should I buy the dip on Bendigo Bank shares today?

Read more »

A man thinks very carefully about his money and investments.
Bank Shares

Why these experts say sell CBA shares now

These two investment experts recommend selling CBA shares today. But why?

Read more »