I believe the CBA result was widely anticipated and did not disappoint.
The dividend of $1.20 (+6%) was well below the profit increase and the payout ratio at 63% was below the more normal 65-72% normally expected. One reason may be the large growth in Home Loans (5-8% system, mabye 9-13% for CBA), but a Tier 1 of 9% and then 9.6-9.8% by June 30 implies room for a $1-2bn acquisition without equity issuance, and up to $4-5bn without strain (DRP, SPP, Insto placement).
At that level IFL (IOOF) at $1.5bn may achieve further movement in wealth (unlikely ACCC consequence), leaving AMP as a must acquire for ANZ (likely at $7.50-8.75) which would be dilutive, but at least keep them in step here.
I think Challenger is less likely for all.
I believe the CBA result was widely anticipated and did not...
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Last
$131.53 |
Change
-1.250(0.94%) |
Mkt cap ! $222.2B | |||
| Open | High | Low | Value | Volume |
| $131.35 | $131.66 | $131.32 | $21.71M | 165.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 104 | $131.53 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $131.56 | 26 | 3 |
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| Last trade - 10.21am 25/07/2024 (20 minute delay) ? |
| CBA (ASX) Chart |