How come the NAB share price is still 26% below its all-time high?

NAB shares cost more than $40 back in 2007…

| More on:
A man and a woman sit in front of a laptop looking fascinated and captivated.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Last week, we covered the brand new 52-week high for the National Australia Bank Ltd (ASX: NAB) share price. At that time, NAB shares hit a new high watermark of $33.85 each.

Since then, NAB has gone on to hit yet another new 52-week high. Just yesterday, we saw the bank climb up to a new top of $34.18.

This is fairly momentous for NAB shareholders. After all, the ASX 200 bank share has now gained 10.3% in 2024 alone so far, as well as more than 35% since June last year.

But, even though this is the highest level NAB has climbed to in well over five years, it's still not a new all-time high for this big four bank.

If you think NAB last hit an all-time high back in early 2015, you'd be forgiven. Back then, prior to NAB's Clydesdale sale, NAB shares got as high as $37.78. That's a good 10.7% away from that 2015 high.

But alas, we still haven't arrived at the NAB share price's all-time high.

To find this elusive figure, we have to journey all the way back, past the elections of Kevin Rudd and Barack Obama, to 2007. In November 2007, the NAB share price clocked a record high of $42.66 a share.

That's around 26% off of yesterday's new 52-week high. And it occurred more than 16 years ago.

Check it out for yourself below:

Will the NAB share price ever get back to $42?

It's hard to say whether the NAB share price will ever get back to $42.66. The pre-global financial crisis world of 2007 was a very different place. Online banking was only just taking off, cheques and passbooks were the norm, and paying by 'tap' was years away.

The Australian banking scene of the mid-2000s was dominated by wild ventures into untapped markets that subsequently ended in failure. NAB was one of the worst banks to be hit by this trend in Australian banking.

It used to have an American subsidiary called Great Western Bank, as well as its UK holding Clydesdale. Both ventures have subsequently been sold out (although Clydesdale remains on the ASX in its current Virgin Money UK plc (ASX: VUK) form).

It was arguably these foreign ventures, amongst many other factors, that destroyed much of NAB's market capitalisation in the years following 2007.

NAB shares have had a long but steady road back to where it stands today. At least investors have had the bank's generous dividends to keep them warm during these hot and cold years of the past two decades.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the 'five best ASX stocks' for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor Sebastian Bowen has positions in National Australia Bank. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Bank Shares

Worried woman calculating domestic bills.
Bank Shares

Which 2 big ASX bank shares will be most impacted by RBA rate cuts according to Macquarie?

Which banks could see the most pain from RBA rate cuts?

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Earnings Results

Bank of Queensland share price lifts off on soaring profits and boosted dividend

ASX investors are piling into Bank of Queensland shares on Wednesday. Here’s why.

Read more »

A small child in a judo outfit with a green belt strikes a martial arts pose with his hand thrust forward.
Bank Shares

3 reasons to buy this quality ASX 200 bank stock today

Up 27% in a year, a leading expert forecasts more upside potential for this ASX 200 bank stock.

Read more »

A woman sits at her computer with her hand to her mouth and a contemplative smile on her face as she reads about the performance of Allkem shares on her computer
Bank Shares

Is this the right time to invest in Westpac shares?

Is this blue-chip bank an appealing option right now?

Read more »

Woman and man calculating a dividend yield.
Bank Shares

2 ASX 200 bank stocks to sell today: Bell Potter

Bell Potter forecasts more headwinds in 2025 for these two ASX 200 banks.

Read more »

Two boys lie in the grass arm wrestling.
Share Market News

Regional bank battle:Bendigo Bank or Bank of Queensland shares?

Looking outside the big four? These two regional banks might be worth considering

Read more »

A man watches the share price movement closely.
Bank Shares

I want to buy CBA shares. What price should I pay?

What would be a good valuation to buy CBA at?

Read more »

Buy, hold, and sell ratings written on signs on a wooden pole.
Bank Shares

ANZ shares: Buy, sell, hold?

With the ANZ share price in retreat, the bank stock’s dividend yield is now at 6.2%.

Read more »