The Australia and New Zealand Banking Group (ASX: ANZ) share price is almost at the lowest it has been over the past year, it's currently sitting at $28.12, before today's open.
ANZ is obviously one of the big four banks and offers most of the same positives and negatives.
A lot of its earnings comes from the Australian residential mortgage sector. The Australian population will continue to grow, meaning that there will be more dwellings and more loans in the long-term. As a big four bank, ANZ will take a certain percentage of this growth.
However, long-term potential growth doesn't make it a buy today. Australian households are the most indebted they have ever been. This could be very dangerous as interest rates are starting to rise and that could mean defaults on loans, or at least slower repayments.
ANZ has sold off most of its Asian businesses, which was the only thing that really separated it from the other big banks. It does, however, have a slight skew to businesses compared to say Commonwealth Bank of Australia (ASX: CBA).
One thing that I do like about ANZ is that it seems to be trying to be more up-to-date than the other three. It was the first to offer customers Apple Pay. A couple of years ago ANZ hired the head of Google's Australian operations as the head of digital banking. It's this type of forward thinking that could win it customers from other banks who want that option.
Foolish takeaway
I don't think the ANZ share price is a buy today. Just because the price is lower, doesn't mean it's a better buy, I think the risks and negatives outweigh the positives at this point in the cycle. It does have an attractive grossed-up dividend yield of 8.13%.
