ASX financial shares are the worst performers of the 11 market sectors on Thursday, down 1.9%.
Meantime, the S&P/ASX 200 Index (ASX: XJO) is down 1.4%.
ASX 200 financial shares have weakened by 3% in 2026 compared to a 1% slip for the broader benchmark index.
Experts explain why they've placed buy ratings on three ASX financial shares today.
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Commonwealth Bank of Australia (ASX: CBA)
The CBA share price is $161.51, down 2% today and down 7.5% over the past month.
Earlier in May, CBA shares experienced their biggest one-day fall in history.
This happened on the day the bank released its 3Q FY26 update and in the first trading session post-Federal Budget.
Mark Elzayed from Investor Pulse has a buy rating on the market's biggest ASX financial share.
On The Bull, Elzayed explained why he is one of the first analysts to give CBA shares a buy rating in many months.
CBA remains Australia's dominant retail bank. The recent sharp sell-off has created a more attractive entry point for long term investors.
The bank generated unaudited cash net profit after tax of $2.7 billion in the third quarter of fiscal year 2026, up 4 per cent on the prior corresponding period. Lending and deposits continued to grow despite a softer economic backdrop.
CBA also maintains strong capital levels and recently paid a fully franked interim dividend of $2.35 a share for the first half of fiscal year 2026.
The shares fell heavily following housing concerns flowing from the Federal Budget. We see scope for a recovery once sentiment stabilises.
Top broker Morgan Stanley tips a 5% earnings downgrade for ASX 200 bank shares due to capital gains tax (CGT) changes in the Budget.
L1 Long Short Fund Ltd (ASX: LSF)
The L1 Long Short Fund share price is $4.39, down 0.7% today and up 20% over six months.
The fund is run by independent global investment manager, L1 Capital.
L1 Capital says the fund is a highly diversified portfolio of long and short positions based on a fundamental bottom-up research process.
On The Bull, Jed Richards from Shaw and Partners explained his buy call on this ASX financial share:
LSF offers exposure to global growth opportunities through a highly regarded investment team with a strong long term track record.
Management has meaningful personal investment in the fund, aligning interests with investors.
Recent performance has been supported by global equity exposure.
The fund also offers a solid income stream, making it an attractive option for growth and income in a diversified portfolio.
Qualitas Ltd (ASX: QAL)
The Qualitas share price is steady at $2.87 on Thursday, and down 20% in 2026.
Qualitas is an Australian alternative investment manager offering local and global investment strategies across real assets and private credit.
Morgans recently upgraded Qualitas shares to a buy rating with a 12-month price target of $3.50.
This implies a potential 22% upside ahead for the ASX financial share.
Morgans commented:
Our valuation and recommendation change was driven almost entirely by a reduction to our discretionary valuation discount (+75 cps), reflecting our lower perceived risk as a) the company reiterates that FUM commitments continue to increase and b) FUM deployments set new records.
Following QAL's recent 3QFY26 update, the announced changes to residential real estate investment in the Federal Budget and the sale of a further interest in the comparable Metrics Credit, we have upgraded QAL to a BUY with a $3.50/sh price target.
