“Big 4” Aussie Banks Steadily Becoming “Big 1+3”
The Commonwealth Bank seems to be slowly but surely drawing away from the NAB, Westpac and the ANZ - each of which seems powerless to close the inexorably widening gap.
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Commonwealth Bank Of Australia.
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Where Do The Banks Sit In The Switch From Growth To Value?
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News
Boardroom Musical Chairs at CBA and TRS
Changes afoot at both ends of the spectrum with the Commonwealth Bank getting a new chair and retailer The Reject Shop in the market for a new CEO after a surprise departure.
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Banking Sector Bites: ANZ, CBA
ANZ and CBA were both in the news on Tuesday as the former made some key personnel moves and the latter offloaded an asset, raising expectations for further capital management programs.
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Further Buyback on Cards after CBA Asset Sale
The CBA will raise expectations among investors for another buyback later this year after revealing Tuesday that it had sold part of its stake in a Chinese bank for $A1.8 billion.
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Shares Rally as Comm Bank Delivers the Goods
Shares in the Commonwealth Bank saw a strong bounce yesterday in the wake of the better-than-expected interim earnings, higher dividend and a new share buyback.
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Analyst Views
CBA – Macquarie rates the stock as Underperform
Macquarie finds the bank's current valuation premium excessive, and retained the Underperform rating and target price of $90.00.
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CBA – Morgans rates the stock as Reduce
The broker maintains its Reduce rating and still feels the stock trades at an unjustified premium relative to peers.The target price falls to $73 from $80.
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CBA – Macquarie rates the stock as Underperform
Rating is downgraded to Underperform from Neutral, following a strong rally in the share price. Target is raised to $88.50 from $86.00.
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CBA – Morgan Stanley rates the stock as Underweight
Morgan Stanley retains an Underweight rating. Target is raised to $89.50 from $86.50.
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