A Typical Commonwealth Bank Profit for FY17 - Clean, Solid, and Big. AUD 85 FVE Unchanged.
Commonwealth Bank of Australia impressed again delivering a solid underlying performance with an in line fiscal 2017 cash profit of AUD 9.88 billion, up 5% on the previous year. No change to our AUD 85 per share fair value estimate. At current prices, we believe the shares are fairly valued, trading modestly below our valuation with a fiscal 2018 P/E of 14 times and an attractive fully franked dividend yield of 5.4% grossing to 7.7%. This was a typical Commonwealth Bank financial result--clean, ...Commonwealth Bank of Australia provides integrated financial services including retail, business and institutional banking, funds management, superannuation, life insurance, general insurance, broking services and finance company activities. Co. operates in seven segments, Retail banking Services, Business and Private Banking, Institutional Banking and Markets, Wealth Management, New Zealand, Bankwest, as well as International Financial Services and Other Divisions. As of June 30 2016, Co. had total assets of A$933.1 million and total deposits of A$588.0 million.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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