Markets: A CBA dampener

Dividend expectations have supported Commonwealth Bank, but investors may find the impetus for further gains in the bank’s share price, higher dividends or earnings growth lacking.

Commonwealth Bank's stock is trading at levels very similar to the beginning of May when UBS analyst Jonathan Mott warned that Australian bank shares were trading in “bubble” territory. The bank's shares are up 33 per cent in 12 months and 13 per cent since June 7 when they were at $65.02. The stock closed at $73.73 yesterday.

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