Macquarie Group vs Commonwealth Bank shares: Which bank is best on the ASX?

Everyday Aussie investors often find themselves weighing up Macquarie Group Ltd (ASX: MQG) against Commonwealth Bank of Australia (ASX: CBA). Both have a long pedigree, blue-chip status, and deliver reliable dividends, but their businesses and profiles are starkly different. With current market conditions in mind, let’s see how Macquarie and CommBank stack up and which could be the better buy.

The case for Macquarie Group

Macquarie Group is a global powerhouse headquartered in Australia, best known for its investment banking, asset management, and specialist expertise in areas like infrastructure, resources and commodities. While it’s sometimes referred to as Australia’s fifth-largest bank by market cap, retail banking is only a small piece of Macquarie’s business. According to its most recent public description, Macquarie operates in 34 markets worldwide, offering everything from banking to investment and advisory services, and ranks within the world’s top 50 asset managers.

A few standouts in the latest numbers:

• Market cap: $91.54 billion
• P/E ratio: 18.83, notably lower than CommBank’s
• Dividend yield: 2.93% (unfranked portion may matter for some investors)
• EPS: 12.669
• Partial franking: 35%
• Year to date return: 19.5%

Dividends have grown over time, with the most recent final and interim payouts at $4.20 and $2.80 per share, both franked at 35%. Macquarie’s more global and diversified earnings base could appeal if you want exposure beyond Aussie retail banking.

The case for Commonwealth Bank of Australia

Commonwealth Bank (or CommBank) is a household name and part of Australia’s “big four” banking club. Its business is all about integrated financial services, spanning retail and business banking, funds management, super, insurance, and more. CommBank operates mainly in Australia and New Zealand, but its reach extends to several international markets too.

Here’s what stands out from the data:

• Market cap: $255.09 billion, making it much larger than Macquarie
• P/E ratio: 23.39
• Dividend yield: 3.31%, slightly higher than Macquarie’s
• EPS: 6.517
• Franking: a full 100%
• Year to date return: -1.92%

CommBank’s dividend history is a thing of beauty for income lovers. Payouts are fully franked, and dividends have remained consistent, with the last final and interim payments coming in at $2.70 and $2.35 per share. For those who value steady, reliable yield with maximum franking credits, CommBank is hard to go past.

Valuation comparison

These two banks share the same broad sector but look quite different through a value lens. Here’s how some core numbers compare:

	Macquarie Group	Commonwealth Bank
Market Cap	$91.54b	$255.09b
P/E Ratio	18.83	23.39
Dividend Yield	2.93%	3.31%
Dividend Franking	35%	100%
EPS	12.669	6.517

Note: Macquarie Group’s reported P/E and EPS figures align, but when comparing across such different business models—even within the banking sector—it’s not always apples-to-apples. CommBank’s full franking on its higher yield may also make its dividends more attractive to some investors, especially those in higher tax brackets.

Recent share price performance

Comparing 21 August to 18 September 2026:

• Macquarie Group shares fell from $248.43 to $238.62, a drop of roughly 3.9% in that time.
• Commonwealth Bank shares slipped from $157.99 to $152.43, down around 3.5% over the same period.

On a year-to-date basis, the difference is sharper:

• Macquarie Group is up 19.5% YTD.
• Commonwealth Bank is down 1.9% YTD.

Which is the better buy?

If I’m weighing Macquarie Group against Commonwealth Bank today, my pick would be Macquarie Group. Its momentum stands out, with an impressive 19.5% year-to-date return, which easily trumps CommBank’s negative move for 2026 so far. Macquarie also looks meaningfully cheaper on a P/E basis (18.8 vs 23.4), giving you more earnings for every dollar invested.

While CommBank pays a higher headline yield (3.31% vs 2.93%) and offers the full benefit of 100% franking, which is unbeatable for franked income lovers, Macquarie’s growth-style profile and sector diversification appeal to me more in the current market. Its slightly lower dividend and franking rate may disappoint some, but that’s balanced by capital gains and global exposure.

For investors seeking a combination of growth potential and a decent, partly franked dividend, I think Macquarie looks like the more compelling opportunity right now. Of course, if fully franked, reliable income is your absolute priority, you might still lean towards CommBank.

The post Macquarie Group vs Commonwealth Bank: Which ASX bank is the better buy? appeared first on The Motley Fool Australia.

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Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial draft. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

It was a lukewarm, tentative, yet positive start to the trading week for the S&P/ASX 200 Index (ASX: XJO) and many ASX shares this Monday. After a wild week last week, investors didn’t seem to know what to do today. After opening sharply lower this morning, the ASX 200 ended up recovering by market close, posting a small rise of 0.008%. That leaves the index at 8,731.9 points.

This nervous start to the Australian week comes after a mixed end to the American trading week last Friday night (our time).

The Dow Jones Industrial Average Index (DJX: .DJI) couldn’t quite stick the landing, losing 0.18%.

However, things were brighter for the tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC), which gained 0.39%.

But let’s return to this week and the local markets now for a look at how the various ASX sectors handled today’s trading conditions.

Winners and losers

As you might expect, there were generous helpings of both red and green sectors this Monday.

Leading the former were tech shares. The S&P/ASX 200 Information Technology Index (ASX: XIJ) had a shocker today, crashing 1.6%.

Gold stocks had a tough one too, with the All Ordinaries Gold Index (ASX: XGD) tanking 0.73%.

Broader mining shares weren’t much better. The S&P/ASX 200 Materials Index (ASX: XMJ) had sunk 0.66% by the closing bell.

Communications stocks came next, evident by the S&P/ASX 200 Communication Services Index (ASX: XTJ)’s 0.43% dive.

Consumer discretionary shares also had a lacklustre day. The S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) saw its value cut by 0.41%.

Its consumer staples counterpart was ahead of that, with the S&P/ASX 200 Consumer Staples Index (ASX: XSJ) sinking 0.23%.

Our last losers today were utilities shares. The S&P/ASX 200 Utilities Index (ASX: XUJ) was sent home 0.11% lighter this Monday.

Let’s turn to the green sectors now. Leading the charge were financial stocks, illustrated by the S&P/ASX 200 Financials Index (ASX: XFJ)’s 0.63% surge.

Healthcare shares were in decent demand, too. The S&P/ASX 200 Healthcare Index (ASX: XHJ) jumped 0.51% today.

We could say the same for energy stocks, with the S&P/ASX 200 Energy Index (ASX: XEJ) advancing 0.45%.

Real estate investment trusts (REITs) saw some mild buying pressure as well. The S&P/ASX 200 A-REIT Index (ASX: XPJ) added 0.09% this session.

Finally, industrial shares scraped over the line, as you can see by the S&P/ASX 200 Industrials Index (ASX: XNJ)’s 0.05% bump.

Top 10 ASX 200 shares countdown

Gold miner Ramelius Resources Ltd (ASX: RMS) was our best share on the index this Monday. Ramelius shares leapt 6.15% higher this session to close at $3.80 each.

This big surge seemed to be prompted by a favourable production update released this morning.

Here’s the rest of today’s best:

ASX-listed company	Share price	Price change
Ramelius Resources Ltd (ASX: RMS)	$3.80	6.15%
Cochlear Ltd (ASX: COH)	$140.95	5.27%
Judo Capital Holdings Ltd (ASX: JDO)	$1.00	4.17%
Treasury Wine Estates Ltd (ASX: TWE)	$5.36	4.08%
Pantoro Gold Ltd (ASX: PNR)	$ 2.87	3.61%
Paladin Energy Ltd (ASX: PDN)	$10.16	3.36%
Lovisa Holdings Ltd (ASX: LOV)	$23.32	3.09%
Nickel Industries Ltd (ASX: NIC)	$0.795	2.58%
Graincorp Ltd (ASX: GNC)	$6.72	2.44%
Tuas Ltd (ASX: TUA)	$2.31	2.21%

Our top 10 shares countdown is a recurring end-of-day summary that shows which companies made big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

More reading

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• Why is this ASX gold share rocketing 7% on Monday?
• 3 ASX 200 gold stocks turning heads on big news today
• Ramelius Resources boosts production outlook and sets new FY27 guidance
• These are the 10 most shorted ASX shares

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Cochlear, Lovisa, and Treasury Wine Estates. The Motley Fool Australia has positions in and has recommended Treasury Wine Estates. The Motley Fool Australia has recommended Cochlear and Lovisa. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The S&P/ASX 200 Index (ASX: XJO) has spent Monday struggling to pick a direction.

After falling as low as 8,681 points shortly after the open, the benchmark has clawed its way back to 8,731 points in early afternoon trade.

That leaves the ASX 200 basically flat for the day and around 50 points above its morning low.

It’s a pretty mixed session underneath as well, with 99 shares higher, 94 lower, and 7 unchanged.

The index is still down around 3.8% over the past month, despite recovering slightly over the past 3 sessions.

So, what’s moving the market today?

Wall Street offers little help

There wasn’t much of a lead from Wall Street heading into today’s session.

The Dow Jones Industrial Average Index (DJX: .DJI) slipped 0.18% on Friday, while the S&P 500 Index (SP: .INX) gained 0.17% and the Nasdaq Composite Index (NASDAQ: .IXIC) rose 0.40%.

Bond yields remain elevated as well, with the US 10-year Treasury yield pushing back above 5% on Friday.

According to Reuters, investors are still weighing the prospect of further US interest rate hikes, while oil prices remain above US$100 per barrel.

Banks help turn things around

One of the bigger changes since the open has been the performance of the major banks.

ANZ Group Holdings Ltd (ASX: ANZ) shares are up 1.29% to $38.17, while National Australia Bank Ltd (ASX: NAB) has gained 1.17% to $38.92.

Commonwealth Bank of Australia (ASX: CBA) is also 0.56% higher at $153.28, and Westpac Banking Corp (ASX: WBC) has added 0.52% to $34.93.

That has helped offset some weakness among the miners.

BHP Group Ltd (ASX: BHP) shares are down 0.72% to $60.61, while Rio Tinto Ltd (ASX: RIO) has fallen 1% to $165.82.

Fortescue Ltd (ASX: FMG) is also trading lower, down 0.54% to $16.64.

Some big individual moves

There are also some much bigger moves elsewhere on the market today.

Perpetual Ltd (ASX: PPT) shares have dropped around 13.5% to $16.95 after the company rejected EQT‘s revised $22.50-per-share takeover proposal.

The board said the offer undervalued the business and carried unacceptable execution risks.

Meanwhile, Telix Pharmaceuticals Ltd (ASX: TLX) shares are down around 6% to $16.77.

The healthcare company announced a deal to combine with Germany’s ITM, with upfront consideration of US$1.65 billion and another US$700 million potentially payable through milestones.

RBA back in focus

Interest rates are likely to remain a major focus over the next week.

RBA Governor Michele Bullock and Assistant Governor Sarah Hunter are both scheduled to speak tomorrow. Bullock will appear at a CEDA event, while Hunter will take part in a separate interview earlier in the day.

This comes ahead of the central bank’s next monetary policy decision on 29 September.

The post ASX 200 claws back its early losses. What’s moving the market? appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Monday
• ASX 200 healthcare shares lead a weaker market amid 82% chance of a rate hike
• Here are the top 10 ASX 200 shares today
• ASX 200 slips into the red after a positive start. Here’s why
• Downgrade alert! 5 ASX 200 shares downgraded by experts this week

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Telix Pharmaceuticals. The Motley Fool Australia has recommended BHP Group and Telix Pharmaceuticals. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.