Latest news with #RichardWiles
Sydney Morning Herald
5 days ago
- Business
- Sydney Morning Herald
CBA is now worth over $300 billion, but the experts are cautious
Commonwealth Bank this week hit a new milestone when its market value broke through $300 billion, continuing to defy sceptical analysts who have long struggled to make sense of the gravity-defying rise in the banking giant's shares. CBA shares are up almost 47 per cent in the past year, and the bank's market value is on par with global powerhouses such as Wall Street titan Goldman Sachs. CBA's market value is far greater than the combined value of its two largest rivals: Westpac and National Australia Bank. The Sydney-based bank has also led a powerful sector-wide rally in bank shares: Citi analysts say banks have outperformed the ASX 200 by 27 per cent since the start of 2024. But despite the bank's bumper share price, which ticked up to $181.34 on Thursday, some analysts say they see a more subdued outlook for bank shares, pointing to pressure on profit margins from the expected fall in interest rates. Others are cautioning that after the surge in bank shares, investors should be aware of the possibility of a 'rotation' towards miners, the other major sector of the ASX. Loading Morgan Stanley analyst Richard Wiles on Thursday argued there were 'downside risks' to major bank share prices, saying various forces that supported the sector in 2024 were starting to fade. Wiles said that in particular, net interest margins (banks' funding costs compared with what they charge for loans) appeared to have peaked, while the outlook for dividends and buybacks was also more subdued. Wiles said the CBA's price-to-earnings multiple – a key measure of a stock's valuation – had hit 28 times, and this was 'very difficult to justify' given the outlook for CBA profit growth.
The Age
5 days ago
- Business
- The Age
CBA is now worth over $300 billion, but the experts are cautious
Commonwealth Bank this week hit a new milestone when its market value broke through $300 billion, continuing to defy sceptical analysts who have long struggled to make sense of the gravity-defying rise in the banking giant's shares. CBA shares are up almost 47 per cent in the past year, and the bank's market value is on par with global powerhouses such as Wall Street titan Goldman Sachs. CBA's market value is far greater than the combined value of its two largest rivals: Westpac and National Australia Bank. The Sydney-based bank has also led a powerful sector-wide rally in bank shares: Citi analysts say banks have outperformed the ASX 200 by 27 per cent since the start of 2024. But despite the bank's bumper share price, which ticked up to $181.34 on Thursday, some analysts say they see a more subdued outlook for bank shares, pointing to pressure on profit margins from the expected fall in interest rates. Others are cautioning that after the surge in bank shares, investors should be aware of the possibility of a 'rotation' towards miners, the other major sector of the ASX. Loading Morgan Stanley analyst Richard Wiles on Thursday argued there were 'downside risks' to major bank share prices, saying various forces that supported the sector in 2024 were starting to fade. Wiles said that in particular, net interest margins (banks' funding costs compared with what they charge for loans) appeared to have peaked, while the outlook for dividends and buybacks was also more subdued. Wiles said the CBA's price-to-earnings multiple – a key measure of a stock's valuation – had hit 28 times, and this was 'very difficult to justify' given the outlook for CBA profit growth.
Yahoo
23-05-2025
- Yahoo
El Paso Police celebrate 37 recruits graduating from academy
EL PASO, Texas (KTSM) — Thirty-seven police recruits graduated from the El Paso Police Department's 137th Academy on Friday, May 23. This was the largest graduating class since March 2020, when the Covid pandemic shut down the world. Retired El Paso County Sheriff Richard Wiles served as the keynote speaker. Class 138 started earlier this year and Class 139 starts on Tuesday. The ceremony was held at the Starlight Event Center near El Paso International Airport. Graduates will be assigned to regional commands across the city and will go on patrol. They will have a one-year probationary period. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Business Insider
15-05-2025
- Business
- Business Insider
Morgan Stanley Remains a Sell on Commonwealth Bank of Australia (CBA)
Morgan Stanley analyst Richard Wiles maintained a Sell rating on Commonwealth Bank of Australia (CBA – Research Report) today and set a price target of A$128.00. The company's shares opened today at A$168.97. Confident Investing Starts Here: Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter According to TipRanks, Wiles is an analyst with an average return of -8.8% and a 28.89% success rate. Wiles covers the Financial sector, focusing on stocks such as Westpac Banking, ANZ Group Holdings, and National Australia Bank Limited. Currently, the analyst consensus on Commonwealth Bank of Australia is a Strong Sell with an average price target of A$114.55, which is a -32.21% downside from current levels. In a report released yesterday, Citi also maintained a Sell rating on the stock with a A$100.00 price target. Based on Commonwealth Bank of Australia's latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of A$13.78 billion and a net profit of A$5.13 billion. In comparison, last year the company earned a revenue of A$31.73 billion and had a net profit of A$4.76 billion Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CBA in relation to earlier this year.
Business Insider
12-05-2025
- Business
- Business Insider
National Australia Bank Limited (NAUBF) Gets a Hold from Morgan Stanley
In a report released today, Richard Wiles from Morgan Stanley maintained a Hold rating on National Australia Bank Limited (NAUBF – Research Report), with a price target of A$35.00. The company's shares closed last Tuesday at $19.88. Protect Your Portfolio Against Market Uncertainty Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. Wiles covers the Financial sector, focusing on stocks such as Westpac Banking, ANZ Group Holdings, and National Australia Bank Limited. According to TipRanks, Wiles has an average return of -9.1% and a 27.61% success rate on recommended stocks. In addition to Morgan Stanley, National Australia Bank Limited also received a Hold from UBS's John Storey in a report issued on May 7. However, on May 8, Morgans maintained a Sell rating on National Australia Bank Limited (Other OTC: NAUBF). Based on National Australia Bank Limited's latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $10.11 billion and a net profit of $3.47 billion. In comparison, last year the company earned a revenue of $27.86 billion and had a net profit of $3.45 billion Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NAUBF in relation to earlier this year.
