One of these does not fit with the others
Holders will of course say its justified based on superior earnings growth whereas those who have recently sold such as myself would say its got a little ahead of itself and as primarily a value investor I see better value elsewhere. I simply present the information and its up to readers to assess for themselves.
FY18 PE's according to 4traders average brokers forecasts based on Friday's closing price, (all figures rounded to the nearest single decimal point).
ANZ 12.2
NAB 13.1
WBC 12.8
BEN 13.0
CBA 13.8
BOQ 13.2
HBL 17.0
As JeremyALD astutely noted, not a huge amount has changed to HBL in the last eighteen months other than moderate EPS growth but mainly the extraordinary SP outperformance is simply a function of the fact that its been rerated from a considerable discount to its peer group to quite a considerable premium. Whether that premium is warranted or a whether a reversion towards the mean average of its peers is more likely in the medium term is of course the question. Some might even try and make the case that an even bigger PE premium is warranted and I wish them good luck with that.