The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price has been hit pretty hard over the last month amid interest rate rises.

Is the big four bank now a major opportunity for investors? Some experts have been evaluating the situation and do believe that the ASX 200 share is worth looking at.

What’s going on with the ANZ share price?

The ANZ share price has fallen by approximately 17% over the last month.

There is an intense market focus right now on the high inflation levels in Australia, the United States and elsewhere in the world. While inflation alone is problematic, with spiralling costs for households and businesses, it’s also forcing central banks to enact significant interest rate rises to cool the economy.

For example, the US Federal Reserve just increased its interest rate by 75 basis points in June. Earlier this month, the Reserve Bank of Australia (RBA) increased the Australian interest rate by 50 basis points.

While the ANZ share price is down materially, so are plenty of other ASX shares. For example, shares in former tech darling Xero Limited (ASX: XRO) have dropped around 50% in 2022.

Financial commentary for some time has noted that higher interest rates would benefit bank net interest margins (NIM). A higher profit margin could help net profit after tax (NPAT), and that in turn could benefit the ANZ share price.

But, experts such as Morgans have noted that higher interest rates could hurt the bank loan books with potential higher debts. If safer investments like term deposits can provide higher returns, it could also mean that the dividend yields from banks are less popular.

However, with how far the ANZ share price has dropped, is the valuation and ANZ dividend yield now too good to ignore?

Broker ratings on the ANZ share price

The big four ASX bank is rated as ‘equal-weight’ by Morgan Stanley, with concerns that higher interest rates could detract from margins as banks will pay higher interest rates to savers.

Morgan Stanley’s price target on ANZ shares is $28.90. That’s a potential upside of around 35%.

The broker Credit Suisse is more optimistic, rating ANZ a buy with a price target of $30.80 – that implies a potential rise of more than 40%.

Macquarie is another broker that rates it a buy, with a price target of $29.50. That’s a possible rise of almost 40%. This broker thinks that ANZ shares are worth buying in this dip.

How big could the dividend be?

Let’s look at two of the broker forecasts.

Morgan Stanley has pencilled in a grossed-up dividend yield for ANZ of 9.6% in FY22 and FY23.

However, the broker Credit Suisse thinks that the ANZ grossed-up dividend yield could be 9.4% in FY22 and 11.1% in FY23.

The post Is the ANZ share price and dividend yield too good to ignore? appeared first on The Motley Fool Australia.

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More reading

• 3 ASX 200 bank shares slide to 52-week lows on Friday
• ASX 200 bank shares languish on Thursday despite market lift
• Here’s why JP Morgan sees more than 30% upside in the ANZ share price
• Top brokers name 3 ASX shares to buy today
• Why are ASX 200 bank shares having another day to forget?

Motley Fool contributor Tristan Harrison 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. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The world is in turmoil, but the Australian share market might be better placed to navigate through the rough times than most.

That’s the opinion of T Rowe Price Group Inc (NASDAQ: TROW) head of Australian equities Randal Jenneke, who said ASX shares look “cheap” right now.

“As a result, global money managers have been directing more money toward the Australian stock market,” he said.

“Australia’s cheapness partly reflects its composition and the greater share of value sectors in the index.”

One of the dominant sectors that shape the “composition” of the ASX is mining.

Even after the market panic in the past week, the S&P/ASX 300 Metals & Mining (ASX: XMM) is up 0.4% for the year to date.

So which are the mining shares Jenneke’s team favours at the moment?

‘Globally significant, long-life, low-cost lithium asset’

The T Rowe Price team is a believer in the carbon reduction theme, and how particular minerals may see increased demand because of it.

“We like certain metals including lithium and copper as electric vehicle plays,” said Jenneke.

“For example, Allkem Ltd (ASX: AKE) possesses a globally significant, long-life, low-cost lithium asset that is leveraged to the growing demand for lithium-ion battery technology and energy storage.”

Allkem stocks, like other ASX lithium shares, have really cooled off in recent weeks. They have lost about a quarter of value this month.

Shaw and Partners portfolio manager James Gerrish said earlier this month that lithium is hard to substitute in a modern battery.

“It is a light metal but is able to store large amounts of energy and is an excellent conductor of electricity.”

Cashing in on Chinese real estate revival

The other mineral that Jenneke thinks will enjoy hot demand is iron ore.

And among its producers, his team favours ASX 200 share Rio Tinto Limited (ASX: RIO).

“We think Rio will likely be supported by improved stability in the Chinese property market and significant additional stimulus in the form of infrastructure investment.”

Analysts at Macquarie Group Ltd (ASX: MQG) are also fans of Rio Tinto shares.

“There are expectations that Rio Tinto will pay a grossed-up dividend yield of 15.8% in FY22 and 10.9% in FY23,” reported the Motley Fool’s Tristan Harrison earlier this week.

The Macquarie team has reportedly placed a stock price target of $135 for Rio, which is a 26% premium on the Friday closing price of $107.10.

The post The lithium and iron ore ASX shares that I like right now: expert appeared first on The Motley Fool Australia.

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• Why is the Rio Tinto share price diving 5% on Friday?
• This is what will happen with ASX shares for the rest of 2022: expert
• 3 ASX All Ordinaries shares that leapt more than 10% on Thursday
• ‘Force them to give us a discount’: ASX 200 mining shares lift despite China’s latest move to curb iron ore prices
• Why’s the Allkem share price flaring higher today?

Motley Fool contributor Tony Yoo has positions in Macquarie Group Limited. 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. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Despite just being four days long, the S&P/ASX 200 Index (ASX: XJO) has just had its worst week in over two years. Over the four days, the benchmark index shed 6.6% of its value to end the period at 6,474.8 points.

While a good number of shares dropped with the market, some fell more than most. Here’s why these were the worst performers on the ASX 200 last week:

GUD Holdings Limited (ASX: GUD)

The GUD share price was the worst performer on the ASX 200 last week with a decline of 27.1%. Investors were selling down this products company’s shares following the release of a profit warning. Due partly to supply chain issues, GUD downgraded its underlying operating earnings guidance to $147 million in FY 2022. This compares to its previous guidance of $155 million to $160 million. In response to the news, Citi downgraded its shares and slashed its price target.

Block Inc (ASX: SQ2)

The Block share price wasn’t far behind with a disappointing 26.1% decline. This follows an equally poor performance by the payment giant’s NYSE listed shares. Last week Block held its annual general meeting. At the meeting, NorthStar Asset Management hit out at the company’s voting structure and some of management’s recent moves. The latter includes the purchase of a majority stake in music streaming service Tidal, the rebranding from Square to Block, and Jack Dorsey’s passion for cryptocurrencies.

Hub24 Ltd (ASX: HUB)

The Hub24 share price was out of form and tumbled 20.1% over the four days. This may have been driven by weakness in the tech sector and the investment platform provider’s investor briefing event. At the event, the company revealed that platform flows have been affected by market volatility.

Novonix Ltd (ASX: NVX)

The Novonix share price continued its disappointing run and sank a further 19.6%. This means the battery technology company’s shares are now down 76% since the start of the year. Investors have been selling higher risk shares during the market volatility. And with a market capitalisation still over $1.2 billion and no meaningful revenue, Novonix is certainly high up the risk scale.

The post These were the worst performing ASX 200 shares last week appeared first on The Motley Fool Australia.

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More reading

• These were the best performing ASX 200 shares last week
• Novonix share price loses 20% in dire week for ASX 200 tech stocks
• 3 ASX 200 bank shares slide to 52-week lows on Friday
• Why Block, Fortescue, GUD, and Humm shares are sinking today
• Here are the 3 most heavily traded ASX 200 shares on Friday

Motley Fool contributor James Mickleboro 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 Block, Inc. and Hub24 Ltd. The Motley Fool Australia has positions in and has recommended Block, Inc. and Hub24 Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Regular readers will know long-term buy and hold is the philosophy espoused at The Motley Fool.

But of course, this doesn’t mean that every stock you hold for the long run will end up a winner.

In fact, it’s fantasy for both professional and amateur investors to expect all their holdings to make them money.

One example of a long-term stinker is Insurance Australia Group Ltd (ASX: IAG).

The share price for this insurance giant has halved in the past 3 years. In fact, it has now dipped to a level not seen since August 2012.

Yes, you could have held this stock for almost a decade and it would be back to where it started.

But one fund has suggested that the company may finally be ready to break out of the slump:

‘Significant share price upside from current levels’

WAM Leaders Ltd (ASX: WLE) analyst Anna Milne told clients in a memo that it’s no wonder IAG has had a tough time of late.

“It has been a difficult few years for IAG, given the bushfire season in late 2019, the onset of coronavirus and resultant business interruption claims currently being disputed, and more recently, the severe flooding in New South Wales and Queensland this year.”

But macroeconomics is finally lining up to favour insurers, who enjoy higher returns on their capital when interest rates rise.

“In what is an extremely volatile environment, the insurance sector provides defensive characteristics at below market valuations,” Milne said.

“This, combined with compelling fundamentals and cautious market sentiment, suggests significant share price upside from current levels.”

And IAG will be no exception, the Wilson team feels.

“IAG’s share price is at close to 10-year lows and we believe it is poised to break out of this trough over the coming months,” said Milne.

“Underlying business momentum is starting to show, with premium rate hikes continuing to outpace claims while inflation pressures and higher bond yields further supporting earnings.”

There is also potential release of a $1.2 billion provision previously set aside for business interruption claims.

There’s some agreement with Wilson among the wider professional community.

According to CMC Markets, six out of 10 analysts are rating IAG shares as a strong buy. One out of the remaining four recommend it as a moderate buy.

The post The ASX 200 share ready to bounce from 10-year lows: expert appeared first on The Motley Fool Australia.

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More reading

• Why is the IAG share price smashing the ASX 200 today?
• 2 ‘quality defensive’ ASX shares to see out rising interest rates: Wilsons
• Why is the Suncorp share price cratering today?
• Is the IAG share price a defensive buy amid rising interest rates?
• Fundie reveals 3 ASX 200 shares with major pricing power to counter inflation

Motley Fool contributor Tony Yoo 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 positions in and has recommended Insurance Australia Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) unfortunately had another week to forget. Over the four days, the benchmark index recorded a 6.6% decline to end the period at 6,474.8 points.

The good news is that not all shares dropped with the market. Here’s why these were the best performers on the ASX 200 last week:

PolyNovo Ltd (ASX: PNV)

The PolyNovo share price was the best performer on the ASX 200 last week with a 15.5% gain. This was the medical device company’s final swansong before being dumped out of the index at the next rebalance on Monday. With no news out of the company, it isn’t clear why its shares stormed higher. Though, as one of the most shorted shares on the ASX, it is possible that some short sellers were buying back shares to close positions.

EML Payments Ltd (ASX: EML)

The EML Payments share price was the next best performer with a gain of 9%. All of this gain was made on the final day of the week after a sudden and sharp rise on no news. However, a number of payments and BNPL companies saw their shares race higher on Friday. This could have been driven by bargain hunters swooping in after sizeable declines in recent weeks.

Ramelius Resources Limited (ASX: RMS)

The Ramelius Resources share price wasn’t far behind with a gain of 6%. This was driven by a rise in the gold price amid the market volatility caused by recession fears. It wasn’t just Ramelius that was rising. Recording similar gains were Newcrest Mining Ltd (ASX: NCM), Evolution Mining Ltd (ASX: EVN), St Barbara Ltd (ASX: SBM), and Silver Lake Resources Limited (ASX: SLR).

Carsales.Com Ltd (ASX: CAR)

The Carsales share price avoided the selloff and recorded a 4.2% gain last week. All this gain and more came on Friday after an inexplicably large gain. Though, with the auto listings company’s shares hitting a 52-week low earlier this week, some investors may believe they have been oversold.

The post These were the best performing ASX 200 shares last week appeared first on The Motley Fool Australia.

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More reading

• Novonix share price loses 20% in dire week for ASX 200 tech stocks
• 3 ASX 200 bank shares slide to 52-week lows on Friday
• Here are the 3 most heavily traded ASX 200 shares on Friday
• Why A2 Milk, Bubs, Evolution, and Zip shares are rising despite the selloff
• 3 ASX All Ordinaries shares defying today’s rout to surge higher

Motley Fool contributor James Mickleboro 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 EML Payments and POLYNOVO FPO. The Motley Fool Australia has positions in and has recommended EML Payments. The Motley Fool Australia has recommended carsales.com Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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If you’re looking for some growth shares to add to your portfolio, then the two listed below could be worth a look.

Both of these ASX growth shares have been named as buys and tipped to climb materially higher from current levels. Here’s what analysts are saying about them:

Lovisa Holdings Limited (ASX: LOV)

The first ASX growth share to consider is fast-fashion jewellery retailer, Lovisa.

Thanks to the popularity of its offering and its global expansion plans, it has been tipped to grow strongly over the next decade.

For example, the team at Morgans even believe the company could “prove to be one of the biggest success stories in Australian retail.”

In light of this, its analysts have put an add rating and $24.00 price target on its shares. Based on the current Lovisa share price of $12.89, this implies potential upside of 86% for investors.

Treasury Wine Estates Ltd (ASX: TWE)

Another ASX growth share that could be in the buy zone is Treasury Wine. It is the wine giant behind a range of brands such as 19 Crimes, Penfolds, and Wolf Blass.

The last few years have been difficult for Treasury Wine and its earnings have taken a major hit. This was driven by COVID-19 headwinds and the company’s exile from China.

The good news is that things are looking up now for the wine giant. This is thanks largely to its success in the North American market. In fact, the team at Morgans believe the “foundations are now in place for TWE to deliver strong double-digit growth from 2H22 over the next few years.”

As a result, its analysts have put an add rating and $13.93 price target on the company’s shares. Based on the current Treasury Wine share price of $10.88, this implies potential upside of 28% for investors.

The post Experts name 2 ASX growth shares to buy with major upside potential appeared first on The Motley Fool Australia.

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• 2 blue chip ASX 200 shares Morgans rates as buys
• Despite recent volatility, brokers are bullish on the Treasury Wine share price
• Analysts are tipping these ASX growth shares as buys
• 3 ASX All Ordinaries shares that defied Thursday’s slump to leap higher
• This ASX 300 retail share could grow its global store network by 260%: fundie

Motley Fool contributor James Mickleboro 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 Lovisa Holdings Ltd and Treasury Wine Estates Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The BHP Group Ltd (ASX: BHP) share price has ended the week in negative territory.

At Friday’s market close, shares in the world’s largest miner slipped 3.39% to $42.52. This represents a fall of 8% to when its shares finished trading at the end of last week.

Let’s take a look at what’s weighing down the miner’s shares.

What’s happened to BHP shares?

There are a couple of reasons as to why the BHP share price sunk to a 3-week low today.

Firstly, the S&P/ASX 200 Materials Index (ASX: XMJ) backtracked 2.78% to 16,443.4 points on Friday. When looking at the past week, the index is down a sizeable 8.64%.

The sector represents 39 of the largest companies that specialise in mining, forest products and construction materials.

It appears the general negative sentiment on the BHP’s home sector is weighing down its shares.

Shares in fellow peers, Rio Tinto Limited (ASX: RIO) and Fortescue Metals Group Limited (ASX: FMG) also closed the day in the red by 4.20% and 5.25%, respectively.

In addition, the price for iron ore is fetching at US$131.50 per tonne, down 0.75% for the day as well as touching a 3-week low.

Dragging down the price of the crucial steel-making ingredient is China’s bold move to have more influence over the commodity.

As reported in the Australian Financial Review, the Asian powerhouse is looking to set up a cartel of iron ore buyers. This would centralise purchases as well as help bring iron ore prices down.

However, the big three Australian miners aren’t convinced as China is littered with many small-time players across the countryside. Regulating this and getting them to come to the table is likely to prove extremely difficult for the Xi administration.

Only time will tell as China wants to have this initiative wrapped up by the end of this year.

BHP share price snapshot

Since the beginning of 2022, the BHP share price has travelled sideways to register a gain of 15% so far.

Although, when looking further back to the last 12 months, its shares remain flat for the period.

Listed as the biggest company on the ASX in terms of market capitalisation, BHP is roughly valued at $215.25 billion.

The post BHP share price ends Friday’s session 8% lower for the week appeared first on The Motley Fool Australia.

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More reading

• Brokers name 3 ASX shares to buy today
• ‘Force them to give us a discount’: ASX 200 mining shares lift despite China’s latest move to curb iron ore prices
• ASX 200 midday update: BHP’s NSW coal update, Link takeover on the rocks
• Why I think the BHP share price is a good buy for the long term
• BHP share price pushes higher despite coal sale fail

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 no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) has closed on a dire week for ASX tech stocks, in which the Novonix Ltd (ASX: NVX) share price was one of the hardest hit.

The battery materials and technology stock plunged 19.94% over the market’s four-day week. As of Friday’s close, the Novonix share price is $2.50.

For context, the ASX 200 tumbled 6.6% in that time, and the S&P/ASX 200 Information Technology Index (ASX: XIJ) slumped 9.8%.

Let’s take a closer look at what went wrong for Novonix and its ASX 200 technology peers this week.

What went wrong with the Novonix share price this week?

The Novonix share price struggled this week alongside many of the market’s favourite tech stocks.

Block Inc (ASX: SQ2), Xero Limited (ASX: XRO), and WiseTech Global Ltd (ASX: WTC) dropped 25%, 11%, and 9% respectively.

The tech sector’s tumble came on the back of a similar downturn on Wall Street in the United States.

Since the US market closed on Thursday (Friday Aussie time), the tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) has slipped 9.4%.  

Meanwhile, the benchmark S&P 500 plummeted into bear market territory during Monday’s session overseas.

That likely lead the broader Australian market to tumble when it opened after the Queen’s Birthday long weekend on Tuesday.

Interestingly, Novonix’s stock actually gained on Thursday and Friday, lifting 1.2% over the consecutive sessions.

However, it fell 8% on Tuesday and was the ASX 200’s worst performer on Wednesday, plunging 14%.

This week’s downturn included, the Novonix share price has fallen 72% since the start of 2022. It’s also 76% lower than it was this time last year.

The post Novonix share price loses 20% in dire week for ASX 200 tech stocks appeared first on The Motley Fool Australia.

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More reading

• 3 ASX 200 bank shares slide to 52-week lows on Friday
• Here are the 3 most heavily traded ASX 200 shares on Friday
• Why is the Coles share price getting off lightly today?
• ASX 200 midday update: GUD crashes, tech shares tumble
• Down 20% today: Why the GUD share price is crashing to a 6-year low

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 positions in and has recommended Block, Inc., WiseTech Global, and Xero. The Motley Fool Australia has positions in and has recommended Block, Inc., WiseTech Global, and Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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ASX tech shares have had their returns levelled this year as investor confidence retracts and liquidity dries up. It only takes a glance at the S&P/ASX All Technology Index (ASX: XTX) to quantify the extent of the damage — down 40% year-to-date.

The disastrous tech sector performance carried over into Friday as the market descended a further 1.8%. In turn, investors are looking at a hellacious 6.7% fall in the benchmark index over one short trading week.

However, one ASX tech share defied the odds to secure an eight-year high today.

Which ASX tech share is rising above the rest?

Shares in Silex Systems Ltd (ASX: SLX) finished Friday 5.8% higher at $2.01. If you haven’t heard of the company before, you’d be forgiven. At a market capitalisation of $407.4 million and a relatively obscure business, the company isn’t exactly a household name.

Yet, the lack of public notoriety hasn’t stopped the Silex share price from skyrocketing over the past month. Outstripping many of its ASX tech share peers, the company has ascended more than 50% during the month gone by.

Silex Systems is a research and development company specifically focused on various applications of its own laser enrichment technology. One of those applications is the enrichment of uranium for use in nuclear energy power generation.

Given the lack of price-sensitive announcements this month, it seems possible that the heightened interest in this ASX tech share could be due to the evolving energy crisis hitting Australia. Despite the country never having a nuclear power station, interest in the alternative source has been renewed by runaway prices in electricity and gas markets.

The two major political parties are in opposition with each other over the idea of pursuing nuclear energy. However, with energy bills set to soar, the public interest in a potentially cheaper energy source is rampant.

On 2 June, Silex announced it had executed a non-binding letter of intent between its joint venture partner and Constellation Energy Generation LLC. Notably, Constellation is the largest producer of carbon-free energy in the United States, operating 23 nuclear power stations.

Investors in this ASX tech share will no doubt be watching how the energy crisis develops with a keen eye.

The post Amid the carnage, this ASX tech share just hit an 8-year high appeared first on The Motley Fool Australia.

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Motley Fool contributor Mitchell Lawler 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 no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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It’s been a horrible week for ASX shares and the S&P/ASX 200 Index (ASX: XJO). The ASX 200 has lost almost 2% this Friday, which means it has now shaved off a painful 6.7% over the week just gone. With an ASX 200 loss like that, it was never going to be a good week for ASX bank shares.

The ASX 200 big four banks make up almost a fifth of the entire weighting of the ASX 200. Thus, they often go where the index goes (or perhaps it should be the index goes where they go).

But it’s been an especially painful day for the big ASX banks today. We’ve seen the big falls of this week continue for all bank shares. But we’ve also seen several – three of the big four, in fact – hit new 52-week lows.

At the start of June, Westpac Banking Corp (ASX: WBC) shares were more than $24 each. But today, Westpac slid to a new 52-week low of $18.80 a share.

Westpac recovered somewhat to close at $19.19, down 0.72% for the day. But that still puts its losses for June thus far at a whopping 19%.

3 ASX 200 bank shares explore new 52-week lows

Westpac wasn’t alone in exploring new territory. Australia and New Zealand Banking Group Ltd (ASX: ANZ) shares also had a clanger today. This ASX 200 bank started June at over $25 a share. But today saw ANZ fall to a new 52-week low of $20.95 soon after open.

Like Westpac, ANZ did stage a later recovery and closed at $21.16. But we are still looking at a June loss of 15.5%.

Last, but certainly not least, we have Commonwealth Bank of Australia (ASX: CBA).

CBA shares have had a dramatic fall from grace in recent days. For most of 2022, CBA has traded around the $100 a share mark, sometimes over, sometimes under. But we are now well under $90 a share today after CBA’s 3.55% fall.

This banking kingpin hit a new 52-week low of $86.98 this morning and only slightly recovered to $87.26. It’s hard to believe this bank was being priced at $104.36 a share at the start of this month, meaning CBA has now copped a June loss of 16%.

Of course, National Australia Bank Ltd (ASX: NAB) is the odd one out here.

NAB also fell today. But its drop of 1.67% to $25.92 a share was not enough to drag it down to its current 52-week low of $25.08. But NAB only hit its most recent 52-week high of $33.75 in April, so perhaps it had more of a cushion.

The only conclusion that we can draw here is that it has been an absolutely horrible week to own ASX bank shares. No doubt investors will be hoping next week is far kinder.

The post 3 ASX 200 bank shares slide to 52-week lows on Friday appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Friday
• The CBA share price has lost 15% so far in June. Is it worth banking on?
• Why is the Coles share price getting off lightly today?
• ASX 200 midday update: GUD crashes, tech shares tumble
• Down 20% today: Why the GUD share price is crashing to a 6-year low

Motley Fool contributor Sebastian Bowen has positions in National Australia Bank Limited. 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 Westpac Banking Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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