Here’s why the CBA (ASX:CBA) share price is underperforming today

The market may be pushing higher again today but the same cannot be said for the Commonwealth Bank of Australia (ASX: CBA) share price.

In afternoon trade the banking giant’s shares are down 1% to $85.41. This compares to a 0.4% gain by the S&P/ASX 200 Index (ASX: XJO).

What is happening?

The decline in the CBA share price might be confusing investors, especially given how the rest of the big four are on the rise today.

For example, the Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price is up 1.2%, the Westpac Banking Corp (ASX: WBC) share price is up 0.7%, and the National Australia Bank Ltd (ASX: NAB) share price is up 0.8% following its first quarter update.

The good news for the shareholders of Australia’s…