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Commonwealth Bank (CBA)

$101.91
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What does Bull and Bear mean?

Market Matters View Point?

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Market Matters
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MM likes CBA into weakness around $95

OPINION

Commonwealth Bank (CBA) $103.42

Shares in CBA were back in the press yesterday after news from APRA that serviceability standards were being increased for mortgages. It’s clearly not good news for housing short term although arguably its only effectively bringing forward the inevitable rate rise as the RBA sticks to its 2024 timeframe for rate hikes in Australia. CBA shares...

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Commonwealth Bank (CBA) $104.33

Australia’s largest bank CBA doesn’t report or trade ex-dividend until next year which may reduce the markets appetite for the stock this month, our view of the company hasn’t changed over the last few months i.e. we are keen buyers around the $95 area while believing the stock is fully priced around $110. In other words MM expects CBA to continue trading in a similar range as it has since May.

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Commonwealth Bank (CBA)

A less dramatic example was set by Commonwealth Bank (CBA) in August, before it traded ex-dividend in similar fashion to FMG. MM flagged this likely move for CBA and trimmed our banking exposure accordingly – we currently only have a combined 10% exposure to CBA & NAB in our Flagship Growth Portfolio compared to the sectors market weighting of around 20%.

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Commonwealth Bank (CBA) $100.55

CBA managed to hold above its August low and it appears to be gaining support in the $100 region, our view hasn’t changed towards Australia’s premier bank i.e. we see major support 4-5% lower.

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The Banks

The Banking Sector thrives on a strong property market as they enjoy steady margins with low bad debts, we believe todays ideal environment can be maintained for the coming year, or two minimum. However the current strong tailwind is clearly built into todays prices at least to a certain degree with the likes of CBA doubling in under 2-years, posting fresh all-time highs in the process.

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Commonwealth Bank (CBA) $108.17

MM has discussed the picture for CBA a number of times through 2021, we have been bullish Australia’s leading bank since the Royal Commission but I’m becoming wary of how many bullish reports have been in the papers over the last 48-hours.

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Commonwealth Bank (CBA) $106.56

FY21 Result: A big result was expected and is clearly priced into the market with CBA trading at all-time highs of $106.56 – and they’ve certainly delivered on that this morning. Cash profit for FY21 from continuing operations was expected to be $8.6bn, they’ve delivered $8.65bn which is up 19.8% on FY20. A full year dividend of $3.42 expected (2H dividend of $1.92 which is up from $1.50 in the 1H) and they’ve delivered $3.50 ($2.00 in 2H).

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ACTION

CBA
UPDATED 15/10/2021 17:18
MM likes CBA into weakness around $95
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CBA
UPDATED 07/10/2021 16:53
MM believes CBA is fully valued over $110 and a buy around $96
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CBA
UPDATED 01/10/2021 18:08
MM is bullish CBA medium-term
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IFL
UPDATED 29/09/2021 09:40
MM are trimming CBA, NAB & IFL by 1% each in the Income Portfolio to raise cash for a new purchase
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CBA
UPDATED 13/09/2021 08:21
MM likes CBA around the $96 area
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CBA
UPDATED 06/09/2021 08:56
MM remains bullish the banks with NAB & CBA our picks
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CBA
UPDATED 13/08/2021 08:50
MM is bullish CBA medium term
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CBA
UPDATED 12/08/2021 11:36
MM are trimming CBA in the Flagship Growth Portfolio, taking profit around $107
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CBA
UPDATED 12/08/2021 08:52
MM is targeting $110 for CBA, now only ~3% away
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CBA
UPDATED 06/08/2021 16:05
MM remains bullish CBA targeting the $110 area
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Australia's largest (best) bank

Commonwealth Bank of Australia (CBA) is Australia’s largest provider of integrated financial services, providing retail, business and institutional banking, funds management, superannuation, life insurance, general insurance, broking services and finance company activities. Their operations are conducted primarily in Australia and New Zealand. In addition, they also operate in a number of other countries, including the United Kingdom, the United States, China, Japan, Singapore, Hong Kong, Indonesia and South Africa.

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Commonwealth Bank (CBA)
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Commonwealth Bank (CBA)
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Commonwealth Bank (CBA)
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Commonwealth Bank (CBA)
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Commonwealth Bank (CBA)
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Commonwealth Bank (CBA)
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Commonwealth Bank (CBA)
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Commonwealth Bank (CBA)
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Commonwealth Bank (CBA)
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Commonwealth Bank (CBA)
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Commonwealth Banks (CBA)
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Commonwealth Bank (CBA) v Insurance Australia Group (IAG)
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Commonwealth Bank (CBA)
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Commonwealth Bank (CBA)
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Commonwealth Bank (CBA)
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Australian 10-year Bond Yield v Commonwealth Bank (CBA)
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Commonwealth Bank (CBA)
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Commonwealth Bank (CBA)
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Bank of Queensland (QLD)
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Commonwealth Bank (CBA)
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Commonwealth Bank (CBA) v Bank of Queensland (BOQ)
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Commonwealth Bank (CBA)
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Commonwealth Bank (CBA)
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Commonwealth Bank (CBA)
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Commonwealth Bank (CBA)
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Commonwealth Bank (CBA)
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Commonwealth Bank (CBA)
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Commonwealth Bank (CBA)
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Commonwealth Bank (CBA)
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Commonwealth Bank (CBA) & Westpac (WBC)
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Commonwealth Bank (CBA)
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Commonwealth Bank (CBA) v CSL Ltd (CSL)
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Commonwealth Bank (CBA) v CSL Ltd (CSL) Indices
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Commonwealth Bank (CBA)
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Commonwealth Bank (CBA) v Westpac (WBC)
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Commonwealth Bank (CBA)
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Commonwealth Bank (CBA)
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Commonwealth Bank (CBA)
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Commonwealth Bank (CBA)
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Commonwealth Bank (CBA)
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Commonwealth Bank (CBA)
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Commonwealth Bank (CBA)
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Source; Bloomberg
Tagged video
WATCH
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Weekly Video Update: We cover reporting including CBA, IAG, MIN, CGF & others Recorded at 11.15am Wednesday 11th August
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WATCH
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CNBC Asia – Talking GDP & Banks Australia is headed for a recession but some stocks there could still be attractive
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