Commonwealth Bank of Australia (ASX: CBA) shares are up 1.1% as we head into the lunch hour on Tuesday.
That's broadly in line with the 1.2% gains posted by the S&P/ASX 200 Financials Index (ASX: XFJ) at this same time.
Shares in the S&P/ASX 200 Index (ASX: XJO) bank stock closed yesterday trading for $95.07. Shares are currently trading for $96.12 apiece.
At that price, CommBank has a market cap of $162.4 billion, easily holding its own as Australia's largest financial institution.
That's today's CBA share price action for you.
Now, here's what could be the ASX 200 bank's next acquisition.
Image source: Getty Images
What acquisition is being considered?
In news unlikely to have a material impact on CBA shares today, The Australian reports that the big four bank is carrying out exclusive due diligence to potentially acquire ScotPac.
Citing unnamed sources, the article said that CBA and ScotPac were in takeover discussion last year as CBA aims to increase its footprint in small and medium-sized enterprises (SMEs) lending.
Neither ScotPac nor CBA commented on the acquisition rumours.
If you're not familiar with ScotPac, the company was established back in 1988.
According to its website, "ScotPac is Australia and New Zealand's largest specialist provider of working capital solutions with a comprehensive range of invoice finance, asset finance and trade finance facilities."
The company supports more than 5,000 businesses and has funded $27.3 billion of invoices over the past 30 years.
With CBA remaining mum about the potential acquisition, shareholders will have to wait and see how this unfolds.
How have CBA shares been tracking?
As you can see in the chart below, CBA shares came under selling pressure alongside the broader market in mid-February.
Year-to-date the CBA share price is down 6%.
Over the longer term, the ASX 200 bank has gained 31% in five years. And bear in mind, these figures don't include CBA's twice-yearly dividend payouts.
