Commonwealth Bank’s Fiscal 2017 Profit on Track with a Solid First Quarter Performance.
Wide moat-rated Commonwealth Bank of Australia’s unaudited first-quarter fiscal 2017 cash profit of AUD 2.4 billion was flat on the record September 2015 quarter and modestly higher than the average of the four previous quarters. The profit is in line with consensus and modestly below the quarterly run rate required to reach our unchanged full-year fiscal 2017 cash profit forecast of AUD 9.8 billion. Our AUD 85 fair value estimate and AUD 4.25 per share fully franked fiscal 2017 dividend forecas...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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