The Australia and New Zealand Banking Group Limited (ASX: ANZ) share price has had a great week thus far.
The ANZ share price opened the week at $28.60 a share. At the close of yesterday's trading session, shares in the banking giant finished off at $29.35.
This translates to a 2.55% increase in the ANZ share price within a week.
In comparison, the S&P/ASX 200 Index (ASX: XJO) has only managed to crawl 0.6% higher for the week.
It's not very common to see the share price of a big bank like ANZ outperforming the broader index.
So, let's take a look at what's pushing the ANZ share price higher this week.
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What's been fueling the ANZ share price?
There have been several catalysts that have helped propel the ANZ share price this week.
Firstly, a strong full year result by rival Commonwealth Bank of Australia (ASX: CBA) helped boost the ANZ share price.
A strong result from ANZ's rival helped fuel investor sentiment towards the banking sector.
A second catalyst that boosted the ANZ share price this week was the appointment of a new Chief Financial Officer (CFO).
ANZ's management highlighted Mr Faruqui's accomplishments and experience, painting a positive outlook for the bank's future.
Snapshot of the ANZ share price
In addition to a strong week, the ANZ share price has also had a stellar year thus far.
Since the start of the year, shares in the banking giant have soared more than 28.5% in 2021.
Despite their impressive gains this year, the ANZ share price still offers investors a decent dividend yield.
According to a recent note from broker Bell Potter, the potential return of the ANZ share price remains attractive.
Analysts from the broker initiated a buy rating on the bank and placed a $30 price target on its shares.
The broker also forecasts ANZ to pay out a fully franked dividend per share of 140 cents in FY 2021. In addition, analysts forecast a payout of 146 cents in FY 2022 and 154 cents in FY 2023.
These figures reflect a dividend yield of 5%, 5.2%, and 5.5%, respectively.
As a result, the ANZ share price will receive extra attention this reporting season.
ANZ is expected to release its results for the financial year on Wednesday the 18th of August.
