Bank of Queensland announced 1H19 cash earnings of $167m which is below the downgraded guidance the company provided in February and 8% below the same time last year.
The result continues to highlight the struggles the regional banks have in the current environment.
An interim dividend of $0.34 was declared, which is a reduction from 2018 levels.
The chart below shows the Algo Engine sell signals in BOQ, starting in early 2018 at $13.00. BOQ now trades sub $9.00 and is likely to continue lower.