Where to on the Banks (Big 4 )?

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Question asked 27/07/2024

Where to on the Banks (Big 4 )?

Hi James and Team Your latest on the banks were "too late to increase exposure to Banks but aren't yet considering taking any profits from our holdings." When are you likely to take any profits or trim exposure with July soon behind us and reporting season looming. What are your expectations on CBA when they report?Will it support all the Banks? Will you be holding until the dividend is paid ? (ex date around 16th Aug). Would it be prudent to trim ANZ & NAB into any strength prior to CBA reporting since they will not be paying any dividend until Nov? regards Debbie

Answer

Hi Debbie,

A lot of questions rolled into one but at the moment we aren’t planning to reduce our banking exposure. It looks/feels too early to “fight the tape” with 3 of the majors testing their 2024 highs in what’s been a tough week for many areas of the ASX.

ANZ is underperforming at present due to its Trading Scandal issues and this is likely to continue until some clarity returns but over the medium term, though we see little merit in switching within the sector.

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Commonwealth Bank (CBA)

LAST UPDATED 26/07/2024 15:37

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