Commonwealth Bank of Australia (ASX: CBA) shares have been relatively positive performers over the last 12 months.
During this time, the banking giant's shares have risen almost 5%.
While this marginally trails the performance of the ASX 200 index over the same period, it is superior to that of the majority of the big four and regional banks.
In fact, only ANZ Group Holdings Ltd (ASX: ANZ) shares have outperformed Australia's largest bank during this time.
But what about the next 12 months? What could happen to a $10,000 investment in CBA shares between now and then? Let's find out.
$10,000 invested into CBA shares
If you are fortunate enough to have $10,000 (and $22 extra) available to invest in CBA shares, you would end up with 95 units.
Unfortunately, most brokers aren't overly enamoured with the bank at the moment. In fact, I'm not aware of a major broker with a price target above where its shares trade today.
For example, UBS is the most bullish broker I can find with its neutral rating and $100.00 price target. This implies a potential downside of 5% over the next 12 months.
However, it is worth remembering that brokers have felt this way for some time and that hasn't stopped CBA's shares from rising. So, maybe investors should focus on historical returns rather than what analysts are saying.
Over the last 15 years, the bank's shares have provided an average total return of 9.2% per annum. If they were to do the same over the next 12 months, this would turn your $10,022 investment into $10,944.
Though, as always, it is worth remembering that past performance is not a guarantee of future returns.
