Azzet reports on three ASX stocks with price moving updates today.
Bank of Queensland jumps after posting FY25 result ~
Shares in Bank of Queensland (ASX: BOQ) were up around 2% by 2:30 pm AEDT (3:30 am GMT) after the mid-tier bank stock’s reported annual profit and increased dividend found favour with the market.
Despite a shrinking mortgage book, the bank reported an improved annual cash profit – up 12% to $383 million in the 12 months ended August 31 – at the mid-range of analyst expectations.
The bank also declared a fully franked final dividend of 20 cents per share, up from an interim payment of 18 cents - taking the total FY25 dividend to 38 cents - above the [full year] 35 cents per share dividend payment analysts were expecting.
While improved cash earnings were driven by stronger margins, disciplined cost management, and a favourable shift in the bank's balance sheet mix, there were some parts of today’s result that disappointed the market.
On a statutory basis, net profit after tax fell 53% to $133 million, which reflects one-off restructuring and impairment charges.
Much of the bank’s ability to meet guidance is being attributed to improved commercial lending, with its commercial book jumping 14% or $1.5 billion to $13.1 billion in FY25.
The market has clearly taken some solace this morning from reassurances that, while still flat, the worst of the mortgage lending slump now appears to be behind it.
Today, the bank revealed a $4.2 billion drop in home lending - down 7% on FY24 - to recycle capital into higher-returning commercial assets.
The bank’s lending margins were up 8 basis points to 1.64%, with the weighting tilted towards the second half as returns were up 13 points, despite the cash rate falling from its high last December.
Management told the market today that it remains optimistic about continuing the transformation journey it embarked on 12 months ago and expects growth through FY26 - with increased business lending, efficiency improvements, and a competitive dividend payout ratio high on its agenda.
The bank's digital transformation advanced further, with 44% of retail customers now migrated to its new digital banking platform.
Management also flagged plans to side-step red-hot mortgage competition that has dragged down returns across the banking sector.
The bank also advised the market today that, given the uncertainty of the depth and timing of cash rate movements, margins will continue to be challenged.
Highlights within today's result:
- Deposit book shrank 1%.
- Customer growth up 3%.
- Underlying expenses fell 4%.
- 70 basis point improvement in return on equity.
- 210 basis point reduction in the cost-to-income ratio.
- 44% of retail customers now on the digital bank.
- Total income of $1.657 billion was up 4% on FY24.
- Non-interest income of $142 million was up 4% on FY24.
Looking ahead, management expects ongoing productivity improvements, with $250 million in annualised savings targeted by FY 2026 as legacy systems, including ME Bank's heritage platforms, are decommissioned.
Commenting on today’s update, CEO Patrick Allaway told the market that the bank is progressing well through this ambitious program of work to uplift operational resilience, simplify operations, scale customer growth with improved digital experiences, and shift the balance sheet mix to deliver more sustainable returns.
“We've seen encouraging momentum across our core businesses with strong growth in business lending and have expanded our proprietary acquisition channels,” Allaway said, who expects continued growth in business lending, a modest decline in mortgages.
The bank is targeting sub-inflation expense growth in FY26, a CET1 capital ratio between 10.25% and 10.75%, and a dividend payout ratio between 60% and 75% of cash earnings.
Bank of Queensland has a market cap of $4.5 billion; the share price is up 17% in one year and 3.6% in the last month.
The stock’s shares appear to be in a near-term downtrend, confirmed by its 20-day moving average.
Consensus is Moderate Sell.
Telix Pharma rockets after major guidance upgrade
Shares in Telix Pharmaceuticals (ASX: TLX) were up 15.3% after the diagnostic and therapeutic product developer updated FY25 revenue guidance after receiving a major boost in the September quarter.
After reporting a 53% year-on-year increase in unaudited revenue to US$206 million, the company raised its full calendar revenue guidance to the range of $800 to $820 million, up from prior guidance of $770 to $800 million.
Guidance reflects revenue from PSMA imaging (Illuccix and Gozellix) product sales in jurisdictions with a marketing authorisation, and 11 months of revenue contribution from RLS22.
Adding to the third quarter revenue jump was the full reimbursement that Telix received for its Gozellix product from the U.S. Centres for Medicare and Medicaid Services.
The company has also launched its Illuccix product in 19 European Union markets and the United Kingdom, with a commercial launch having commenced in the UK, Germany, France, Finland, Sweden, Norway, and Denmark.
CEO Christian Behrenbruch told the market today that the company’s strong market position - bolstered by two FDA-approved imaging agents and a growing customer base – has seen the fourth quarter kick off in a position of strength.
Effective from 1 October in the U.S., were two FDA-approved PSMA imaging agents and CMS reimbursement for Gozellix.
"We believe this is a solid result, particularly in light of the reimbursement dynamics during the quarter,” he said.
“This differentiated two-product strategy enables us to expand market share across all customer segments, with Gozellix enhancing our production flexibility and providing customer choice based on patient reimbursement pathways.”
Telix confirms research and development (R&D) expenditure guidance, expecting a year-on-year increased investment range for FY25 of 20% to 25% compared to FY24.
Telix Pharmaceuticals has a market cap of $5.5 billion; shares are down 25% in one year and up 20% in the last month.
Sentiment among investors has been weak, resulting in a bearish sloping 200-day moving average.
More recently, the stock has fallen dramatically enough to register in the oversold region of the Stochastic Oscillator.
Consensus is Strong Buy.
Sun Silver rises after striking major silver-gold zones at Maverick Springs
Shares in Sun Silver (ASX: SS1) were up 3.5% after the small cap silver explorer’s latest drilling at the Maverick Springs silver-gold project in Nevada delivered major intercepts, including 110m at 92g/t AgEq and 38m at 79g/t AgEq, validating the resource model.
With 90 approved drill pads, the program is targeting extensional, infill, and metallurgical sampling to upgrade the resource to Indicated status.
The project is also benefiting from robust metal prices, with silver above US$52/oz and its addition to the U.S. draft Critical Minerals List.
Commenting on today’s update, Sun Silver managing director, Andrew Dornan told the market that drilling at Maverick Springs continues to intersect significant silver-gold mineralisation, demonstrating the consistency and quality of the deposit.
“The 2025 program is confirming the robustness of the existing Resource while collecting key metallurgical and infill data to support its progression toward the Indicated category,” he said.
“These results further highlight the strength and scale of Maverick Springs as we continue advancing the Project through the next stages of technical and permitting work.”
Sun Silver’s cornerstone asset, the Maverick Springs Project, is located 85km from the fully serviced mining town of Elko in Nevada and is surrounded by several world-class gold and silver mining operations, including Barrick’s Carlin Mine.
The Project, which is proximal to the prolific Carlin Trend, hosts a JORC Inferred Mineral Resource of 218Mt grading 42.2g/t Ag and 0.31g/t Au for 296.5Moz of contained silver and 2.2Moz of contained gold (480Moz of contained silver equivalent).
The deposit itself remains open along strike and at depth, with multiple mineralised intercepts located outside of the current Resource constrained model.
Sun Silver held cash reserves of approximately $10.79 million at 30 June 2025.
Sun Silver has a market cap of $174 million; the share price is up 57% over one year and up 20% in the last month.
The stock is in a strong bullish trend, confirmed by multiple indicators.
Consensus does not cover this stock.
This article does not constitute financial or product advice. You should consider independent advice before making financial decisions.
