The ANZ (ASX:ANZ) share price is outperforming its big bank peers in 2022. Here’s why

ANZ is besting its peers so far this year. We take a closer look.

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Key points

  • The ANZ share price is outperforming all other big banks in 2022, having slipped just 0.8% year to date
  • For context, the next best performing ASX big bank has fallen 3.9% over the same time frame
  • Additionally, the ASX 200 is down 5.9% year to date

The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price is the best performing big bank stock of 2022 so far.

That’s despite no price-sensitive news having been released by the smallest of the big four banks in months.

As of Monday’s close, the ANZ share price is $27.77 – down 0.82% year to date.

For context, the S&P/ASX 200 Index (ASX: XJO) has slipped 5.93% in that time frame.

Let’s take a look at how that stacks up against its peers’ movements.

How the ANZ share price’s year-to-date performance compares

While the ANZ share price has experienced a slight slump over the course of 2022 so far, its fellow big banks have been suffering, as can be seen in the chart below.

TradingView Chart

The Commonwealth Bank of Australia (ASX: CBA) share price has been hit hard, having fallen 4.95% year to date.

Meanwhile, shares of Westpac Banking Corp (ASX: WBC) and National Australia Bank Ltd (ASX: NAB) have slipped 3.97% and 4.18% year to date.

Finally, bringing in the rear is the newly minted big bank, Macquarie Group Ltd (ASX: MQG).

The investment bank’s market capitalisation overtook ANZ’s valuation in November 2021 and surpassed that of Westpac earlier this month, making it the third biggest bank on the ASX.

The Macquarie share price has slumped 10.11% since the first close of 2022.

Why is ANZ outperforming its peers?

There’s no clear reason why the ANZ share price is besting its fellow big banks’ stock this year.

However, Morgan Stanley last week upgraded the bank to a buy. Analysts like the bank’s well-diversified business exposure, improving loan growth outlook, and an equally improved outlook for margins.

In contrast, the CBA share price might have been impacted by analyst expectations. As The Motley Fool Australia recently reported, Morgans is predicting the bank’s upcoming half-year results will disappoint the market.

Similarly, Bell Potter is cautious of Westpac’s soon-to-be-released results for the first half of financial year 2022.

Additionally, ASX bank shares have been under pressure recently as whispers of rising interest rates swirl in the United States and Australia.

Should you invest $1,000 in ANZ right now?

Before you consider ANZ, you'll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and ANZ wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of January 13th 2022

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 recommended Macquarie Group Limited and Westpac Banking Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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