CBA share price smashes through $100-mark for first time in 2 months. What's next?

Let's see what some brokers are tipping.

| More on:
a woman wearing the black and yellow corporate colours of a leading bank gazes out the window in thought as she holds a tablet in her hands.

Image source: Getty Imgaes

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Key points

  • The CBA share price has surpassed $100 for the first time in months on Wednesday
  • That leaves it 10% lower than the all-time high it hit in November 2021
  • But most brokers aren't expecting stock in the banking giant to keep pushing higher

The Commonwealth Bank of Australia (ASX: CBA) share price has officially pushed past the monumental $100-mark for the first time since August.

All eyes have been on the S&P/ASX 200 Index (ASX: XJO) banking giant this week to see if it could surpass the milestone that it momentarily met on Tuesday.

The CBA share price is trading 0.47% higher at $100.25 at the time of writing.

Meanwhile, the ASX 200 has lifted 0.41% and the S&P/ASX 200 Financials Index (ASX: XFJ) is up 0.25%.

So, what could be in store for the CBA share price now that it has returned to triple digits? Let's take a look.

Could the CBA share price push higher?

The CBA share price is in the green today and lifting to its highest point in two months.

And once again, it has surpassed the $100-mark. The stock hit triple digits for the first time ever in May 2021 before rocketing to an all-time high of $110.19 in November 2021.

Today, it remains around 10% off that record. But could CBA shares keep climbing to meet – or surpass –their previous high?

If you ask experts, they'd likely tell you not to get your hopes up.

Most are bearish on the CBA share price, with top broker Morgan Stanley tipping it to fall to $85.50, as per Livewire – a potential 14.7% tumble.

Though, not all are so sceptical. Credit Suisse expects it to lift to $102.80, my Fool colleague James reported late last month. The broker is also tipping the banking giant to up its dividends by 10% in financial year 2023.

The latest news likely bolstering hope for the biggest of the big four banks came from its far smaller peer, Bank of Queensland Limited (ASX: BOQ).

On releasing its full-year earnings last week the Queensland-based bank revealed its net interest margin (NIM) had lifted to 1.81% in the final quarter amid rising rates.

It's therefore presumable that other ASX 200 banks have also seen their NIMs increase, thereby upping their profits.

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Bank Shares

Man smiling at a laptop because of a rising share price.
Bank Shares

2 strong ASX bank shares to consider before year-end

I think these ASX bank shares could be compelling opportunities in the sector.

Read more »

A man holds his hand under his chin as he concentrates on his laptop screen and reads about the ANZ share price
Bank Shares

Is this a good time to buy NAB shares?

Should investors bank on good returns from here?

Read more »

Modern accountant woman in a light business suit in modern green office with documents and laptop.
Bank Shares

CBA shares: Overvalued or still a buy?

CBA shareholders have seen a lot of gains in 2024. Is it too late to buy?

Read more »

Woman and man calculating a dividend yield.
Bank Shares

What's the outlook for Bank of Queensland shares in 2025?

Here’s what experts predict for BOQ next year.

Read more »

A man holds his hand under his chin as he concentrates on his laptop screen and reads about the ANZ share price
Bank Shares

Why ANZ shares are making big news today

ANZ's CEO is handing back millions as scrutiny grows.

Read more »

Nervous customer in discussions at a bank.
Bank Shares

Why this expert says it's time to sell NAB shares

Are NAB shares a sell heading into 2025?

Read more »

A man sits in deep thought with a pen held to his lips as he ponders his computer screen with a laptop open next to him on his desk in a home office environment.
Bank Shares

'Too high too rapidly': Why CBA shares are a sell

Should you sell your CBA shares today?

Read more »

Happy young woman saving money in a piggy bank.
Bank Shares

Why today is a big day for NAB shares

It’s a big day for NAB shareholders on Wednesday.

Read more »