|Bid||84.09 x 4287400|
|Ask||73.63 x 75400|
|Day's range||79.83 - 80.31|
|52-week range||73.20 - 87.74|
|PE ratio (TTM)||14.32|
|Earnings date||7 Feb. 2018|
|Forward dividend & yield||3.99 (6.75%)|
|1y target est||80.42|
What does Crown Resorts Ltd (ASX:CWN) have in common with Commonwealth Bank of Australia (ASX:CBA) and Sirtex Medical Limited (ASX:SRX)? The answer will help you decide if Crown is worth betting on in 2018.
Commonwealth Bank of Australia (ASX:CBA) is bouncing back today after yesterday's fall. But there are reasons to think the gains won't last.
Banking shares have tumbled as investors take fright at the announcement of the royal commission that big lenders are reluctantly supporting while insisting it is not needed. The ASX financial sector dropped almost two per cent in morning trade, led by the big four retail banks and Macquarie, after Commonwealth Bank, Westpac, National Australia Bank and ANZ co-signed a letter to Treasurer Scott Morrison accepting the need for an inquiry. Commonwealth Bank led the losses, dropping as much as 2.7 per cent, while insurers also fell on news that the wide-ranging royal commission will also look at their industry.
The latest comments from APRA, if turned into regulation, could hurt lending at Commonwealth Bank of Australia (ASX:CBA) and peers.
Most investors have probably overlooked the best performing bank of 2017. But it would be a mistake to keep ignoring this bank stock for 2018.
The Commonwealth Bank of Australia (ASX:CBA) is facing attacks from many fronts. Now shareholders have taken a swipe.
This week’s top dividend buy for me is Macquarie Group Ltd (ASX:MQG). It is a global provider of banking, financial advisory, investment and fund management services thereby making its sources of earnings more diverse than the big four banks Commonwealth Bank of Australia (ASX:CBA), Westpac Banking Corp (ASX:WBC), Australia and New Zealand Banking Group (ASX:ANZ) and National Australia Bank Ltd. (ASX:NAB).
The Australian market has opened lower, with most sectors in the red following a flat US lead, but local shares remain above the psychologically important 6,000 point mark. CMC Markets chief market strategist Michael McCarthy said most sectors were under pressure soon after opening, although Commonwealth Bank provided some respite with a strong first quarter report.
The Commonwealth Bank has defended its financing of coal mining after activists delivered 100 bags of the fossil fuel through the Sydney CBD to the bank's headquarters. Wearing hazmat suits and pushing a mock coal train emblazoned with the slogan "#Coalbank", Greenpeace activists delivered the coal in protest at the bank's refusal to rule out coal financing as commuters made their way to work in Sydney's Darling Harbour on Monday morning. Activists said they were taking aim at CBA's refusal to rule out future investment in new coal projects, with Greenpeace spokesman Jonathan Moylan saying the bank doesn't appear to be taking the issue of climate change seriously.
ASB Bank's chief executive Barbara Chapman will resign at Easter next year, says the New Zealand's unit of Commonwealth Bank of Australia. Ms Chapman, 57, says being chief executive has been the highlight of her career, and she is now "excited to be able to take some time to think about areas of future interest and challenge". Chairman Gavin Walker says Ms Chapman had been a "passionate and effective" chief executive and had played a key role in the bank lifting annual profit from $NZ568 million ($NZ522.7 million) in 2011 to over $NZ1 billion in the most recent financial year-end.
Australia's biggest bank announced a major shake-up Thursday, offloading its Australian and New Zealand life insurance business to AIA for Aus$3.8 billion (US$3.0 billion) while reviewing the future of its global asset management arm. Troubled lender the Commonwealth Bank (CBA) is under a cloud as it faces legal action over alleged breaches of money laundering and terror financing laws, and has also been beset by a scandal over poor financial planning advice. Its life insurance division, CommInsure, had also come under scrutiny over allegations of claims being denied, although the bank was later cleared by corporate watchdog ASIC.
A global litigation funder on Tuesday said it would back a shareholder class action against Australia's biggest bank over alleged breaches of anti-money laundering laws. Australia's financial intelligence agency AUSTRAC last month launched a civil case against Commonwealth Bank of Australia (CBA), alleging "serious and systemic non-compliance" of the laws involving thousands of transactions. Funder IMF Bentham said the open class action, with the claim to be filed by law firm Maurice Blackburn in the Federal Court, would allege the bank neglected its disclosure obligations as a listed company.
Australia's biggest bank has admitted failures costing staff and customers millions of dollars as the troubled lender faces legal action over alleged breaches of money laundering and terror financing laws. The Commonwealth Bank of Australia (CBA) was thrown into turmoil by a civil case launched earlier this month by financial intelligence agency AUSTRAC for alleged "serious and systemic non-compliance" with the laws. The case has overshadowed record annual profits and forced the bank to announce the retirement of its chief executive.