Is a FY20 forward PE of 11.7 good value ? I really don't know the answer and a lot depends upon whether we go into a recession or not.
Make your own assessment of the merits of other banks but for what its worth off Market Screener the forward FY20 of the Aussie banks I follow is :-
BEN 14.3
BOQ 12.0
ANZ 11.5
NAB 12.3
WBC 12.4
CBA 13.8
Average 12.7.
Attachment 10720
TA isn't helpful in giving any clear guidance either. Probably just a hold for divvy income of 8.6% gross.