Shares in Commonwealth Bank of Australia (ASX: CBA) have trended 23c or 0.3% lower in today's session, marking the fourth consecutive day the stock has traded in the red.
The bank's shares have fallen nearly 1.5% over the last four trading days, which is marginally better than the 1.6% loss fared by the S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO). In comparison, Westpac Banking Corp (ASX: WBC) and National Australia Bank Ltd (ASX: NAB) have fallen 1.7% and 2.2% respectively, while Australia and New Zealand Banking Group (ASX: ANZ) has risen 0.2%.
There are many reasons that could suggest why the bank has fallen in price recently. While rising tensions in Iraq or concerns regarding the possibility of increased interest rates could have an impact, the drop could also simply be attributed to the stock's excessive valuation or less-appealing dividend yield.
While the bank's stellar fully franked dividend yield was once what attracted investors en masse in light of the low interest-rate environment, that yield has now slipped to just 4.6%.
Investors might be starting to realise they can be on the receiving end of far greater dividend yields than that now offered by Commonwealth Bank.
