Commonwealth Bank can do no wrong by the sharemarket and put more distance between its ballooning valuation and blue-chip stablemates such as CSL and BHP with its latest profit update.
CBA’s share price defied the assurances of stockbrokers that Australia’s largest lender is wildly overvalued and claimed a fresh record high on Wednesday. It jumped 2.4 per cent to $165.98, with the market heartened by record home lending, ultra-low bad debts and a $2.25 a share fully franked interim dividend. As for profit growth? That was 2 per cent year-on-year, to $5.1 billion.
Source: https://www.afr.com/markets/equity-markets/investors-wary-of-busting-cba-share-price-bubble-20250212-p5lbml