Commonwealth Bank of Australia (ASX:CBA) Stock Today, 28 November 2025: Banks Retreat, Valuations in Focus, Housing Tailwinds Build

Commonwealth Bank of Australia (ASX:CBA) ended Friday’s session slightly weaker, as investors rotated out of bank stocks following a recent bounce and renewed concerns about interest rates, margins, and the broader economic outlook.

Below is a rundown of today’s market action, fresh commentary on CBA’s valuation, and the latest company and housing-market news shaping the investment narrative around Australia’s largest bank.

Today’s CBA share price: mild pullback after recent stabilisation

Based on end-of-day data, Commonwealth Bank shares finished around A$152.85, down roughly 0.9% on the day. The stock traded between about A$152.65 and A$154.10, on relatively light volume (around 0.48 million shares). ^[1]

That puts CBA:

Just over 9% above its 52-week low of A$140.21 set in April 2025
Still well below its 52-week high near A$192 reached in June 2025 ^[2]

So today wasn’t a crash; it was more of a controlled exhale after a volatile year where CBA first surged to record highs and later fell sharply on concerns over margins and competition, including a near-5% one-day slide earlier in November when management flagged pressure on key lending margins. ^[3]

Sector backdrop: banks lead the ASX lower

Today’s move in CBA wasn’t happening in a vacuum. Financials broadly led the ASX lower:

A market wrap noted that Commonwealth Bank and Westpac each lost about 0.5%, while NAB and ANZ also retreated. ^[4]

Investors are juggling a messy set of inputs:

Hotter-than-expected inflation in recent months has unsettled rate-cut hopes and re-ignited debate about whether the RBA might actually need to hike again in 2026 rather than simply easing. ^[5]
Commentary aimed at retail investors today emphasised being cautious when buying ASX shares ahead of a potential new rate-hiking cycle, highlighting that interest-rate sensitivity remains a critical driver for banks. ^[6]

In short: the whole sector is tied up in a tug-of-war between margin pressure, credit quality risks if rates go higher again, and ongoing demand for housing finance.

Fresh valuation chatter: are CBA shares still too expensive?

CBA is one of the most heavily analysed pieces of financial metal on the ASX, and today saw more valuation work land:

A new Rask Media piece notes CBA is trading “around A$154” and walks through two valuation methods (typically discounted cash flow and relative valuation) to stress-test whether the current price makes sense. ^[7]
A separate analysis from Kalkine Media, also published today, focuses on “whether CBA shares are right for your portfolio”, again emphasising valuation and income characteristics. ^[8]

Across these and other recent notes, a few themes repeat:

Premium valuation
- CBA trades on a higher price-to-earnings (P/E) multiple than its big-four peers, largely because of its dominant market position, perceived lower risk, and strong brand.
- Broker and retail commentary over the past fortnight has repeatedly referred to “valuation concerns” and “overvaluation in the medium term” after CBA’s run-up earlier in the year. ^[9]
Dividend and yield support
- The trailing dividend yield is in the low-to-mid 3% range (around 3.1–3.4%), fully franked, supported by a A$2.25 interim and A$2.60 final dividend in FY25. ^[10]
- For income-oriented investors, that combination of yield plus franking credits remains a core part of the CBA story.
Mixed technical signals
- Short-term technical analysis today points to support around the low-A$150s, with a “pivot bottom” buy signal indicated from mid-November, but also a lingering sell signal on longer-term momentum (MACD), underscoring that the trend is not one-way. ^[11]

So the consensus vibe is: great business, decent income, but still not obviously “cheap” after the big post-2023 rally.

Analyst and broker sentiment: rotation within the big four

A new article this week on how broker Morgans rates the big four ASX 200 bank shares highlights a rotation within the sector: some investors are trimming outperformers like CBA and looking more closely at peers that may offer better value. ^[12]

Separately, other commentators have suggested alternative financial stocks that could be more attractive on a valuation basis than CBA right now, pointing to smaller lenders or diversified financials as potential beneficiaries if investors cool on the bank giant’s premium pricing. ^[13]

The upshot for today: sentiment is not hostile, but it is cautious. Investors appear less willing to pay any price for “quality” now that:

Margins are under observable pressure, and
Macroeconomic uncertainty around inflation and 2026 interest-rate settings is rising again.

Company and macro news today: housing, wealth transfer, and demand for credit

Two fresh pieces of CommBank-authored news today feed into the longer-term narrative for CBA’s loan book and earnings:

Help to Buy scheme launch with CommBank participation
- CommBank highlighted its participation in the Australian Government’s Help to Buy Scheme, designed to help eligible buyers bridge the gap between their borrowing capacity and dwelling prices. ^[14]
- For CBA, schemes like this can support ongoing demand for mortgages, even if affordability is stretched and interest-rate uncertainty is high.
Intergenerational wealth transfer and property demand
- A CBA newsroom article released today explores how an estimated A$3.5 trillion in Baby Boomer wealth is expected to help fund Millennials’ “forever homes”, implying a sustained long-run tailwind for the property market. ^[15]
- For a bank whose fortunes are tightly linked to Australia’s housing market, the idea that the next generation will still be buying (with help from Mum & Dad, and Mum & Dad’s super) is strategically important.

These items don’t move the share price minute-to-minute, but they strengthen the long-term housing and credit demand story that underpins CBA’s earnings.

How today fits into CBA’s 2025 story

If you zoom out a little, today’s modest fall is just another frame in a very jumpy 2025 film:

Record highs: In June, CBA hit around A$192, helped by strong FY25 profit expectations and a global rally in financials. ^[16]
Big correction: By late October and early November, hot inflation data and renewed rate jitters knocked financials back, and CBA suffered several heavy down-days. ^[17]
Results and dividends: The FY25 profit announcement in August flagged a A$10-plus billion annual profit, ongoing capital strength, and another fully-franked dividend, underpinning the view that CBA remains fundamentally solid. ^[18]

Today’s pricing around the low-A$150s effectively sits in the middle of this range: well below the euphoric highs, but not yet close to the panic lows.

Key takeaways for investors watching CBA today

To boil down today’s newsflow:

Price action
- CBA closed around A$152.85, off about 0.9%, as part of a broader pullback in financials where big banks led the ASX lower. ^[19]
Valuation
- Fresh articles today are once again stressing that CBA remains richly valued relative to peers, even after the correction, with income support from a dividend yield in the low-3% zone and fully-franked payouts. ^[20]
Macro and housing
- Commentary around possible RBA hikes in 2026, stubborn inflation, and sector rotation is tempering enthusiasm. ^[21]
- At the same time, CBA’s own newsroom is leaning into a structural housing-demand narrative via the Help to Buy scheme and intergenerational wealth transfer research, reinforcing the long-run growth case for its home-loan franchise. ^[22]
Sentiment and positioning
- Recent broker commentary suggests some investors are rotating away from CBA into other financials or sectors where valuations look less stretched, while long-term holders continue to focus on dividends and balance-sheet strength. ^[23]

Put bluntly: today’s move is more about nerves than disaster. The market is trying to reconcile a high-quality franchise with high expectations, wobbly macro conditions, and a valuation that still assumes CBA will keep threading the needle on margins and credit quality.

Final word: what today’s CBA move signals

From an information perspective, 28 November 2025 adds another data point to a familiar pattern:

When inflation surprises and rate expectations shift, CBA trades like a high-beta macro instrument for the Australian economy.
When housing policy and demographic tailwinds are in the headlines, CBA looks more like a long-term cash-machine with structural demand behind it.

Today delivered a little of both: a modest price dip alongside new reminders that the long-term housing story is still very much alive.

CBA shares slump, consumer sentiment surveys yield conflicting results | Finance Report | ABC NEWS