Australian banks (minus CBA) are about to report on their interim performances and sector analysts' previews are simply anticipating more of the same

Australian banks (minus CBA) are about to report on their interim performances and sector analysts' previews are simply anticipating more of the same. Albeit with one key difference: double digit growth is being replaced with single digit growth, dividends included. No matter what measurement tool is being used, banks' share prices are not cheap, but that won't stop these share prices from rising higher in the short term, allowing the likes of Westpac and ANZ Bank to reach new all-time record highs in the process.?With the exception of laggard National Australia Bank, all banks are now trading above consensus price targets. Traditionally, banks trading above targets has often been an indication of too much investor optimism being priced into the share market, so this is probably as good as any other time to be a little more cautious.