lol - i guess that will depend on size of the 'risk on' and...

lol - i guess that will depend on size of the 'risk on' and appeal of the dividend.

BEN is currently on 14.69x PE based on its last full year statutory NPAT (trading normally. ie market not particularly into banks and no imminent dividend))

BOQ priced at same PE, and using its guidance to $298M cash NPAT as statutory (acquisition cost on offs may be looked past by market), then its value is $12.17 per share

But in the run up to BEN's dividend, it went from 12.18 to 12.93 (ie up 6%)

So if similar phenomenon occurs I would expect it to hit around $12.80 (ie 6% increase from 12.12) in the run up to its full year profit announcement on Oct 8.

I guess the fact thats where the stock was before the offshore sellers departed confirms that thinking in a way.

What we may also get though - depending on conditions - is BOQ may perform better than that if there is a strong risk on move in the market.

Because its seen as havign most direct benefit from Qld residential property.

$13 wouldnt be unreasonable at all. But would probably need offshore investors to come back to push it there.

There is talk the Bank of Japan will soon move to start buying the equities that its supposed to be doing - but apparently hasnt been - and I would think BOQ would be a natural target if that money starts to flow..