The S&P/ASX 200 Index (ASX: XJO) gained 3.8% in May, with two of the big four ASX 200 bank stocks joining in the rally and two going backwards.
Here's how they performed over the month just past:
- Commonwealth Bank of Australia (ASX: CBA) shares gained 5.6%
- ANZ Group Holdings Ltd (ASX: ANZ) shares fell 2.8%
- National Australia Bank Ltd (ASX: NAB) shares gained 5.2%
- Westpac Banking Corp (ASX: WBC) shares fell 0.9%
It was an eventful month for all four banks, with three reporting half-year results and another releasing a quarterly update.
Here's what's been grabbing investor interest.
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Two ASX 200 bank stocks that slipped in May
ANZ shares fell 1.9% on 8 May, the day the ASX 200 bank stock reported its half-year results. Those results included the Suncorp Bank business for the first time. ANZ completed its acquisition of Suncorp Bank last July.
Investors bid down the ANZ share price on the day, despite the bank reporting a 5% increase in revenue to $11.0 billion and a 12% lift in cash profit to $3.57 billion. That was modestly lower than some analyst forecasts, including the team over at Macquarie.
ANZ shares also traded ex-dividend on 13 May, which will have negatively impacted its share price over the month. ANZ will pay a partly franked 83 cent per share dividend on 1 July.
Westpac shares also lost ground in May. As with ANZ, the ASX 200 bank stock traded ex-dividend in May. Westpac will pay out its fully franked interim dividend of 76 cents per share on 27 June.
Westpac reported its half-year results on 5 May. Highlights included a 3% decline in net interest income to $9.35 billion, though excluding notable items, interest income was stable. Net profit of $3.32 billion was down 9% on the prior period, or down 4% excluding notable items.
Two big Aussie bank shares that marched higher in May
NAB shares enjoyed a healthy boost over the month. That's despite the ASX 200 bank stock trading ex its 85 cents per share fully franked dividend on 12 May. Investors can expect to receive that pay out on 2 July.
NAB reported its half-year results on 7 May. Highlights included a 1.4% year on year increase in net operating income to $10.28 billion. Cash earnings of $3.58 billion were up 1.0%.
Which brings us to Australia's biggest bank, CBA.
The ASX 200 bank stock released its third-quarter update on 14 May. Lending volume growth helped drive a 1% increase in CBA's operating income, while the big four bank's cash net profit after tax (NPAT) of $2.6 billion was up 6% year on year.
