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When it comes to ASX dividend shares, there are few more ‘old-school’ than Washington H. Soul Pattinson and Co Ltd (ASX: SOL). Soul Patts, as it’s more easily known, has been around in some form since the 1870s. But it only became the public company we know today in 1903 – just two years after the Australian federation.

Since then, it has continued to run the chain of pharmacies it was originally founded on. But these days, it is far more well known for its huge portfolio of other ASX shares that it runs on behalf of its investors.

Soul Patts has stakes in a range of other ASX businesses. These include TPG Telecom Ltd (ASX: TPG), Brickworks Limited (ASX: BKW), and New Hope Corporation Limited (ASX: NHC), among others. Its portfolio was recently expanded when Soul Patts acquired the listed investment company (LIC) Milton Corporation.

Soul Patts aims to invest in these, and other businesses, for the long-term gains of shareholders. As such, many investors find it to be a boring company. But not Motley Fool analyst Ed Vesely.

Vesely recently graced The Motley Fool’s YouTube channel for our Stock of the Week series. In the latest episode, Vesely dug into Soul Patts with the Fool’s chief investment officer Scott Phillips.

Motley Fool analyst Ed Vesely on Soul Patts

Here’s some of why Vesely loves Soul Patts right now:

[Soul Patts] has an incredible track record, going back 119 years … that tells me a lot about the management style, they really care about the shareholder … We like the fact that they take a very, very long term view … They’re investors, but it’s not lazy investing … The company invests in a range of assets that are not only diversified but to a large degree uncorrelated, and I think this is a real key to why I think it can outperform over the long run. The long-term approach is where I think wealth can be generated.

Vesely also likes the recent Milton takeover, saying it increases Soul Patts’ scale. He also loves the fact Soul Patts has one of the best dividend records on the ASX. He points out that the company has maintained or increased its dividend every year since at least 1987, with consecutive annual increases since 2000.

Vesely concluded by calling Soul Patts a stock you can put in the bottom drawer, and not worry about too much. That might sound pretty good to many investors out there.

So that’s why Motley Fool analyst Ed Vesely loves Soul Patts shares today.

At the current Soul Patts share price, this ASX 200 share has a market capitalisation of $3.9 billion, with a dividend yield of 2.26%.

The post Here’s why Motley Fool analyst Ed Vesely loves this old-school ASX dividend share appeared first on The Motley Fool Australia.

More reading

• Here’s a look at some ASX shares with ex-dividend dates coming up in April
• Are these 2 ASX dividend shares top buys for income in April?
• Why APM, Firefinch, Rio Tinto, and Soul Patts shares are charging higher today
• These strong ASX 200 dividend shares just gave shareholders a pay rise
• ASX 200 (ASX:XJO) midday update: Brickworks impresses, Uniti confirms takeover approach

Motley Fool contributor Sebastian Bowen owns Washington H. Soul Pattinson and Company Limited. Ed Vesely owns Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Brickworks and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia owns and has recommended Brickworks and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended TPG Telecom Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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In late afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. At the time of writing, the benchmark index is up 0.1% to 7,524.6 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are dropping:

Air New Zealand Limited (ASX: AIZ)

The Air New Zealand share price is down 6% to $1.20. This follows the announcement of a NZ$2.2 billion recapitalisation package. The airline operator is raising NZ$1.2 billion of this via a rights offer at a 62% discount of 49 Australian cents per new share. Eligible shareholders will be able to purchase two new shares for every share they already own. The balance will be raised via the Crown.

Block Inc (ASX: SQ2)

The Block share price is down 4% to $186.30. Investors have been selling Block and other tech shares following a poor night of trade on the tech-focused Nasdaq index in the United States. This has led to the S&P ASX All Technology index falling 1.5% today.

Eagers Automotive Ltd (ASX: APE)

The Eagers Automotive share price is down 2% to $14.22. This has been driven entirely by the auto retailer’s shares trading ex-dividend this morning for its upcoming final fully franked dividend of 42.5 cents per share. In fact, if you take this dividend out of the equation, Eagers Automotive’s shares would be trading higher on Thursday.

Harvey Norman Holdings Limited (ASX: HVN)

The Harvey Norman share price is down 6% to $5.36. As with Eagers Automotive, this decline is attributable to the retailer’s shares trading ex-dividend this morning. Earlier this month Harvey Norman declared a fully franked interim dividend of 20 cents per share. This will be paid to eligible shareholders next month on 2 May.

The post Why Air NZ, Block, Eagers Automotive, and Harvey Norman shares are dropping appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: Tabcorp demerger update, BHP higher, Block tumbles
• Air New Zealand (ASX:AIZ) share price plummets on confirmation of NZ$2.2b ‘recovery’ cap raise
• Here’s why the Harvey Norman (ASX:HVN) share price is slipping today
• 5 things to watch on the ASX 200 on Thursday
• Air New Zealand (ASX:AIZ) share price drops then stops amid NZ$1.2bn cap raise rumblings

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. owns and has recommended Block, Inc. and Harvey Norman Holdings Ltd. The Motley Fool Australia owns and has recommended Block, Inc. and Harvey Norman Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The CSL Limited (ASX: CSL) share price has underperformed the broader market in March despite no negative news from the company.

In fact, only one price-sensitive release from the biotechnology giant hit the market over the last 31 days. Still, the CSL share price has managed to record a gain for the month.

At the time of writing, it’s trading at $270, 3.8% higher than it was at the end of February.

For context, the S&P/ASX 200 Index (ASX: XJO) has risen 6.8% over the same period.

So, what’s been driving the ASX 200 staple’s stock lately? Let’s take a look.

What’s been driving the CSL share price in March?

There was only one price-sensitive update released by CSL this month – and it managed to send its share price just 0.3% higher.

The news was in regards to the company’s US$12.3 billion acquisition of Swiss-listed Vifor Pharma.

News of the acquisition, which spurred a US$4.5 billion capital raise, first broke in mid-December.

The latest update on the transaction dropped on 4 March. Then, the company announced 74% of Vifor Pharma’s shares were tendered under its public tender offer.

In response to the acceptance rate, the company waived its previous goal of 80% and declared the offer a success.

The next step the company was to take – a tender period for subsequent acceptance of the offer – was to begin on 9 March and continue until 22 March.

Additionally, CSL stated regulatory approvals were going well and it was confident the acquisition would be finished around the middle of this year.

Unfortunately, the CSL share price tumbled 3.3% the following trading day (7 March). However, the slump wasn’t totally unexpected.

That’s because CSL traded ex-dividend on 7 March. That means new investors had missed their window to get their hands on CSL’s US$1.04 per share unfranked interim dividend.

Generally, shares fall on their ex-dividend dates because the value of their upcoming dividend is no longer attached to their stock.

Finally, the CSL share price took off on 8 March, gaining 2.8% amid news the company’s new influenza vaccine had gained regulatory approval to be used in children above the age of two.

However, the company’s decent March gains haven’t been enough to boost the company’s stock back into the long-term green.

The CSL share price is still almost 9% lower than it was at the start of 2022.

The post How did the CSL share price perform in March? appeared first on The Motley Fool Australia.

More reading

• Why is the CSL share price climbing on Wednesday?
• What’s the outlook for the CSL share price in April?
• Expert reveals 3 ASX shares to watch following tonight’s federal budget
• Why the CSL (ASX:CSL) share price will ‘find its mojo again’: expert
• 3 ASX shares I own myself that will rise again soon: expert

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. owns and has recommended CSL Ltd. 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 Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) is again powering ahead in another day of green so far this Thursday. At the time of writing, the ASX 200 is up by a solid 0.23% at just over 7,500 points. 

But let’s delve a little deeper into these gains and take a look at the ASX 200 shares topping the market’s trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume on Thursday

Telstra Corporation Ltd (ASX: TLS)

Telstra is our first ASX 200 share up this Thursday. The telco has had a hefty 15.7 million shares swap owners so far today. We haven’t had any news out of the company today, noting the announcement yesterday of current CEO Andy Penn’s retirement. 

However, the Telstra share price is experiencing a strong day of gains so far. It’s currently up by 1.41% at $3.96. It’s likely that this push upward is responsible for Telstra’s elevated share trading that we are seeing.

Nickel Mines Ltd (ASX: NIC)

Nickel Mines is our next ASX 200 share up today. This nickel miner has seen a sizeable 16.68 million of its own shares bought and sold on the markets as it now stands. There has been no major news out of Nickel Mines that might explain this volume.

However, looking at the Nickel Mines share price, the picture arguably becomes clearer. Nickel Mines is currently in the red, down by 0.63% at $1.26. However, it initially spent some time in green territory earlier today, rising as high as $1.28 a share. Thus, it is possible that this volatility is behind this high trading volume. 

AVZ Minerals Ltd (ASX: AVZ)

Another ASX 200 resources share AVZ is our third and final share to check out today. This Thursday has seen a whopping 26.77 million shares swap hands as it currently stands. Again, we seem to have a big share price move to thank for this volume. 

Fortunately, it’s going in the opposite direction to Nickel Mines, with the AVZ share price currently up a pleasing 3.73% at $1.25 a share after touching a new all-time high of $1.26 earlier this afternoon. 

The post Here are the 3 most heavily traded ASX 200 shares this Thursday appeared first on The Motley Fool Australia.

More reading

• What’s dragging on ASX 200 energy shares today?
• What exactly is vanadium and which ASX shares have exposure?
• ASX 200 (ASX:XJO) midday update: Tabcorp demerger update, BHP higher, Block tumbles
• 2 ‘very interesting’ ASX shares to buy now as ASX 200 roars back
• 5 things to watch on the ASX 200 on Thursday

Motley Fool contributor Sebastian Bowen owns Telstra Corporation 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 owns and has recommended Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Zip Co Ltd (ASX: Z1P) share price is edging lower today as the company prepares to close its share purchase plan (SPP) tomorrow.

At the time of writing, the buy-now pay-later (BNPL) provider’s shares are travelling 2.93% lower to $1.49.

All the important details regarding the SPP

Earlier this month, Zip announced that it opened its SPP to eligible shareholders after successfully completing a $148.7 million institutional placement.

The SPP offers shareholders who were on the company’s register at the end of 25 February to subscribe for new shares.

Each retail shareholder can apply for up to $30,000 worth of new Zip shares without incurring brokerage or other transaction costs.

The issue price listed under the SPP is almost certain to be a 2% discount to the volume weighted average price for the five trading days up to Friday 1 April 2022.

In contrast, the institutional placement saw institutional, sophisticated and professional investors pick up Zip shares for $1.90 apiece.

The company is seeking to raise an additional $50 million under the SPP to help Zip strengthen its balance sheet.

In addition, management is looking to inject more capital runway to execute on the potential synergies from the upcoming transaction. This relates to the $491 million all-scrip acquisition of Sezzle Inc (ASX: SZL).

Whether the SPP will successfully raise $50 million is anyone’s guess. The company’s shares have continued to decline over the past year, which may scare away shareholders from investing more money.

The SPP has been open from 11 March and will close tomorrow 1 April.

Zip is expected to release the announcement of the results next Wednesday 6 April.

Zip share price summary

It has been a whirlwind year for Zip investors, losing almost 80% in value.

The company’s shares rocketed to a 52-week high of $10.61 in April 2021, before quickly plummeting throughout the year.

When comparing this to the S&P/ASX All Technology Index (ASX: XTX), the index has lost 3% over the same time frame.

Zip commands a market capitalisation of around $1 billion and has more than 669.06 million shares on its registry.

The post The Zip share purchase plan closes tomorrow. Here’s what you need to know appeared first on The Motley Fool Australia.

More reading

• Could the Zip share price turn over a new leaf in April?
• Why is the Zip share price launching 7% on Tuesday?
• Guess how many cents now separate the Zip share price from its market-crash low
• Why Evolution, Fisher & Paykel Healthcare, St Barbara, and Zip shares are falling
• These are the 10 most shorted ASX shares

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. owns and has recommended ZIPCOLTD FPO. 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 Bruce Jackson.

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On Wednesday, we looked at three ASX shares that brokers have given buy ratings to this week. Unfortunately, not all shares are in favour with brokers right now.

Three ASX shares that have just been given sell ratings by brokers are listed below. Here’s why they are bearish on them:

Commonwealth Bank of Australia (ASX: CBA)

According to a note out of Morgan Stanley, its analysts have retained their underweight rating and $92.00 price target on this banking giant’s shares. Morgan Stanley has been looking at the impact that cash rate rises will have on the sector. Unfortunately, it suspects that any net interest margin boost from hikes may be partly offset by higher funding costs, more intense mortgage competition, and modestly higher loan losses. Outside this, the broker believes CBA’s shares are overvalued at the current level. The CBA share price is trading at $106.40 on Thursday.

IGO Ltd (ASX: IGO)

Another note out of Morgan Stanley reveals that its analysts have retained their underweight rating but lifted their price target on this battery materials focused miner’s shares to $11.35. While the broker has lifted its earnings and dividend estimates to reflect stronger commodity prices, it isn’t enough for a change of rating due to its current valuation. The IGO share price is fetching $14.04 on Thursday afternoon.

Vicinity Centres (ASX: VCX)

A final note out of Morgan Stanley shows that its analysts have retained their underweight rating and $1.82 price target on this shopping centre operator’s shares. Morgan Stanley fears that it could take some time for Vicinity Centres’ earnings to bounce back. It suspects that even if temporary COVID-19 impacts on income were to stop now, its funds from operations would still be 12% to 14% lower than pre-COVID levels. The Vicinity Centres share price is trading at $1.87 today.

The post Top brokers name 3 ASX shares to sell today appeared first on The Motley Fool Australia.

More reading

• Why has the CBA share price outperformed its big four peers in March?
• How did ASX 200 bank shares perform today?
• The CBA dividend is being paid today. Here’s what you need to know
• 5 things to watch on the ASX 200 on Wednesday
• Buy or sell? ASX experts rate the CBA share price for April

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 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 Bruce Jackson.

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ASX 200 energy shares are in the red today on the back of falling oil prices.

The S&P/ASX 200 Energy Index (ASX: XEJ) is down 0.68% at the time of writing. Meanwhile, the benchmark S&P/ASX 200 Index (ASX: XJO) is up 0.26%.

Let’s take a look at what is impacting ASX 200 energy shares today.

ASX 200 energy shares down

Oil prices are plunging again today, and so are the big ASX 200 energy shares. The Santos Ltd (ASX: STO) share price is down 1.21%, while Woodside Petroleum Ltd (ASX: WPL) is slipping 1.41%. Meanwhile, Beach Energy Ltd (ASX: BPT) shares have descended 1.45%.

The WTI crude oil price has fallen by 5.63% to US$101.75 a barrel. Brent crude oil has dropped 4.82% to US$107.98 a barrel, Bloomberg data shows. Natural gas prices are also slipping by 1.61%.

The value of oil is diving amid a plan by US President Joe Biden to release supply. The Biden administration is considering releasing one million barrels of oil per day from strategic reserves for several months, Reuters reports.

The Biden team is expected to provide more details on the plan on Thursday in the United States. The aim is to calm gasoline prices, which have surged since the Russian invasion of Ukraine on 24 February.

The Brent crude oil price has soared 15% since this date, Trading Economics data shows. On 8 March, Brent crude oil hit a high of US$127.98 a barrel.

Commenting on the potential oil release, SPI Asset management managing partner Stephen Innes said:

It’s a sentiment shock, but if recent history suggests anything the reserve release will only be a temporary fix and akin to putting a band-aid on a broken leg.

Which ASX energy giant has gained the most in 2022?

The S&P/ASX 200 Energy Index (ASX: XEJ) index has surged by 20% in the year to date. For perspective, the benchmark S&P/ASX 200 Index (ASX: XJO) is down 0.73% over the same timeframe.

Of the major ASX 200 energy shares, Woodside has enjoyed the strongest gains in 2022. The Woodside share price is up 41.6% year to date.

The post What’s dragging on ASX 200 energy shares today? appeared first on The Motley Fool Australia.

More reading

• Woodside share price dips despite ‘significant achievement’. Here’s why
• ASX 200 (ASX:XJO) midday update: Tabcorp demerger update, BHP higher, Block tumbles
• 2 ‘very interesting’ ASX shares to buy now as ASX 200 roars back
• 5 things to watch on the ASX 200 on Thursday
• Hoping to bag the next Vanguard Australian Shares Index ETF (ASX:VAS) dividend? Read this

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 Bruce Jackson.

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to continue its winning run. At the time of writing, the benchmark index is up 0.25% to 7,534.3 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are racing higher:

BHP Group Ltd (ASX: BHP)

The BHP share price is up almost 3% to $51.93. Investors have been buying BHP and other mining shares today following a rise in base metal and oil prices overnight. This has helped drive the S&P/ASX 200 Resources index 1.6% this afternoon.

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is up 9% to $1.38. Investors have been buying this lithium developer’s shares following the release of drilling results from the Bilatos prospect at its Finniss Lithium Project. According to the release, most holes intersected significant lithium grades and consistent thicknesses of pegmatite in the first drilling.

Tabcorp Holdings Limited (ASX: TAH)

The Tabcorp share price is up 3% to $5.37. This follows the release of a demerger update by the gambling company. Tabcorp intends to spin off its lotteries business with a separate share market listing. Shareholders will be given one new share in the lotteries business for every Tabcorp share they own. The board determined that the demerger is the most certain and timely path to maximise value for shareholders.

Talga Group Ltd (ASX: TLG)

The Talga share price has jumped 19% to $1.70. This morning the battery technology company announced that it has successfully commissioned its electric vehicle anode qualification plant located in Northern Sweden. This is considered to be Europe’s first ultra-low emission battery anode production facility.

The post Why BHP, Core Lithium, Tabcorp, and Talga shares are racing higher appeared first on The Motley Fool Australia.

More reading

• Talga (ASX:TLG) share price rockets 17% on EV battery news
• ASX 200 (ASX:XJO) midday update: Tabcorp demerger update, BHP higher, Block tumbles
• Are these ASX 200 mining shares in trouble?
• The BHP share price is up 4% and close to a record high
• Why is the Core Lithium (ASX:CXO) share price up 6% to a record high?

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 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 Bruce Jackson.

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The Vanguard MSCI Index International Shares ETF (ASX: VGS) might not be the most popular exchange-traded fund (ETF) on the ASX. That honour goes to the Vanguard Australian Shares Index ETF (ASX: VAS). But it is still one of the most popular funds that track shares listed outside Australia.

Vanguard’s VGS ETF is massive in scope. It tracks the MSCI World ex-Australia Index (AUD), which is an index that aims to provide exposure to the stock markets of most of the advanced economies of the world. The fund covers more than 20 countries. These range from the United States, Singapore and Japan to Canada, the United Kingdom and Hong Kong. It also covers most countries in Europe.

As such, the VGS ETF holds an extraordinarily large number of companies within its underlying portfolio – close to 1,500. 

But despite this sheer number of holdings, it’s the US tech giants that still dominate this ETF. Between them, Apple Inc (NASDAQ: AAPL), Microsoft Corporation (NASDAQ: MSFT), Amazon.com Inc (NASDAQ: AMZN), Alphabet Inc (NASDAQ: GOOG)(NASDAQ: GOOGL) and Tesla Inc (NASDAQ: TSLA) make up approximately 15.24% of this ETF’s weighting, despite being five shares out of almost 1,500.

With an ETF of this size, scale and scope, many investors might be wondering if they can expect dividend payments? 

What kind of dividend distributions does the VGS ETF pay out?

Well, let’s take a look at the Vanguard MSCI Index International Shares ETF’s income potential.

So as an ETF, VGS is obliged to pass on any dividends it receives from its holdings straight to investors through dividend distributions. And amongst its near-1,500 holdings, there are more than a few dividend payers, including both Apple and Microsoft.

As such, VGS does indeed pay dividend distributions. In fact, it forks these out four times a year. Its latest announced payment will be sent to investors on 20 April. This payment will be worth 40.84 cents per unit.

VGS’s previous three dividend distributions were worth 43.12 cents, 34.26 cents and 81.3 cents per unit.

That comes to a (as of 20 April) trailing annual amount of 199.52 cents, or just under $2, per unit.

VGS units are presently trading at a price of $98.93, up 0.25% for the day so far. That gives this ETF a trailing yield of 2.02% right now. Since none of VGS’s shares are ASX shares, there are no franking credits that come with these distributions. 

So that’s the kind of dividend income an ASX investor can expect from the Vanguard MSCI Index International Shares ETF. 

The post Does the Vanguard MSCI Index International Shares ETF (ASX:VGS) pay dividends? appeared first on The Motley Fool Australia.

More reading

• Here are 2 top ETFs for ASX investors next week
• How is the Vanguard International Shares ETF (ASX:VGS) performing in the 2022 volatility?
• 3 highly rated ETFs for ASX investors to check out this week
• 3 exciting ETFs for ASX investors in March

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Motley Fool contributor Sebastian Bowen owns Alphabet (A shares), Amazon, Apple, Microsoft, and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Alphabet (A shares), Amazon, Apple, Microsoft, Tesla, and Vanguard MSCI Index International Shares ETF. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Alphabet (C shares) and has recommended the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), Amazon, Apple, and Vanguard MSCI Index International Shares ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Commonwealth Bank of Australia (ASX: CBA) share price blew those of its competitors out of the water in March.

At the time of writing, it’s trading at $106.49, around 14% higher than it was at the end of February.

For context, the S&P/ASX 200 Index (ASX: XJO) has gained 7% over the same time frame.

So, what’s been sending the CBA share price higher in March, and by how much has it outperformed its big banking buddies? Let’s take a look.

What’s been driving the CBA share price in March?

The month started off with a bang for the CBA share price when it gained 1.46% on the back of an estimated $1.8 billion divestment.

The biggest Aussie bank announced it had agreed to sell a 10% stake in Chinese counterpart, Bank of Hangzhou, on 1 March.

It will continue to own an approximate 5.6% stake in the bank until 2025 at the earliest.

CBA CEO Matt Comyn noted the sale will allow the ASX-listed bank to “focus on [its] core banking business in Australia and New Zealand.”

Speaking of Comyn, he raised some eyebrows and, perhaps, some concerns this month when he offloaded a sizeable chunk of CBA shares on-market.  

The CEO sold 13,520 shares in the bank for a total of approximately $1.4 million on 15 March.

That left Comyn with a direct holding of a little over 50,000 CBA shares, an indirect holding of slightly more than 34,000 shares, and a healthy collection of rights.

CBA also paid out its interim dividend yesterday.

Shareholders received a full franked $1.75 dividend for every share they owned as of 16 February.

By how much has CBA outperformed its peers in March?

The CBA share price has been the best performing big bank stock in March.

However, it’s been closely trailed by the National Australia Bank Ltd (ASX: NAB) share price. It has gained 12% this month.

Meanwhile, the share prices of Australia and New Zealand Banking Group Ltd (ASX: ANZ) and Westpac Banking Corp (ASX: WBC) have each gained around 7%.

The post Why has the CBA share price outperformed its big four peers in March? appeared first on The Motley Fool Australia.

More reading

• How did ASX 200 bank shares perform today?
• The CBA dividend is being paid today. Here’s what you need to know
• 5 things to watch on the ASX 200 on Wednesday
• Buy or sell? ASX experts rate the CBA share price for April
• 2 ASX shares to guide you through a turbulent 2022: expert

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 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 Bruce Jackson.

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