Big ASX news: NAB shares hit 18-year high

The last time NAB shares were at this level was in November 2007.

| More on:
A beautiful ocean vista is shown with a woman whose back is to the camera holding her arms up in triumph as she stands at the top of a rock feeling thrilled that ASX 200 shares are reaching multi-year high prices today

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

ASX investors are enjoying another exceptional day on the stock market. The S&P/ASX 200 Index (ASX: XJO) is currently sitting at 8,518.1 points this Thursday, up a hearty 1.2%. But let's talk about what's happening with National Australia Bank Ltd (ASX: NAB) shares. 

NAB shares are having an extraordinary day this session. The ASX 200 bank stock and blue-chip share is currently up 2.26% today at $40.28 a share. That was after the bank closed at $39.39 yesterday afternoon and opened at $39.89 this morning.

But during the trading day, NAB stock got as high as $40.48.

For one, that's a new 52-week high for NAB. But it's also the highest this bank has traded at in a very long time. Not even at the height of the 2015 bank share price surge did NAB get to the $40 mark. To find the last time this happened, we have to go way back to before the global financial crisis.

Yep, the last time NAB shares were at $40 each was in November 2007. A good 18 years ago (and then some).

Check it out for yourself below:

Created with Highcharts 11.4.3National Australia Bank PriceZoom1M3M6MYTD1Y5Y10YALLwww.fool.com.au

As it stands right now, the NAB share price is up a healthy 8.25% in 2025 to date and an even rosier 25.16% over the past 12 months. Any lucky investor who was fortunate enough to pick up some NAB shares during the COVID lows of March 2020 would now be sitting on a gain of over 160%.

Are NAB shares still a buy today?

With these gains under the belt, many investors might be wondering whether it's too late to buy NAB shares. Or even whether they should sell NAB if they already own it.

Last month, my Fool colleague Zach looked at what ASX experts were saying.

As we noted at the time, brokers at Macquarie, as well as fundies at Firetrail Investments, both rated NAB as a 'hold'. Macquarie analyst Victor German noted that NAB, alongside the other ASX bank stocks, "are trading at their highest levels in absolute and relative terms, making them some of the most expensive stocks on the market".

However, German also argued that "the catalyst for near-term underperformance isn't clear, as we see upside risk to near-term earnings underpinned by the resilient economic conditions and better-than-expected funding conditions".

Another broker in Bell Potter wasn't as generous though. This broker labelled NAB shares as a 'sell' back in December, stating that the "upside appeal appears limited".

So, arguably, there is not much consensus that NAB shares have much further to climb from these ASX experts. But we'll have to wait and see what 2025 has in store for this ASX 200 bank stock.

Motley Fool contributor Sebastian Bowen has positions in National Australia Bank. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. 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

A man in a suit smiles at the yellow piggy bank he holds in his hand.
Bank Shares

Fresh high of $192: Here's how many records CBA shares have hit in 2025

CBA's record count for 2025 is getting ridiculous.

Read more »

executive in shirt and tie holding chin in hand looking disappointed because of slashed dividend payouts
Bank Shares

Is a dividend cut coming for ANZ shares?

ANZ's high dividend yield might not last...

Read more »

A graphic showing a businessman running up a white upwards rising arrow symbolising the soaring Magellan share price today
Share Gainers

CBA shares hit another all-time high. Can they surpass $200 in 2025?

CBA shares have a tailwind pushing up their price that has nothing directly to do with the bank's business performance.

Read more »

A hip young man with a beard and manbun sits thoughtfully at his laptop computer in a darkened room, staring at the screen with his chin resting on his hand in thought.
Bank Shares

Should I buy JP Morgan or CBA shares?

CBA shares hit another new all-time high today.

Read more »

guy helping girl invest in shares and dividends
Bank Shares

Is the Westpac share price a buy for passive income?

Should investors look at Westpac shares for income?

Read more »

A man holds his hand under his chin as he concentrates on his laptop screen and reads about the ANZ share price
Bank Shares

Could the growth of Kiwibank impact ANZ shares?

Could a competitor hurt ANZ’s outlook?

Read more »

Shocked office worker staring at computer screen with colleagues working in the background.
Bank Shares

Why CBA shares could keep on rising

Can the ASX banking giant continue to defy analyst expectations?

Read more »

A man looking at his laptop and thinking.
Share Gainers

Thinking of selling your CBA shares? This expert says you should hold on

CBA shares are up by about 80% since November 2023.

Read more »