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National Australia Bank (NAB)

$27.83
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What does Bull and Bear mean?

Market Matters View Point?

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Market Matters
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MM is bullish NAB medium term

OPINION

National Australia Bank (NAB) $27.83

Lastly NAB which we hold in both of our Flagship Growth & Active Income Portfolios, it’s been the stronger of its peers grinding out new highs through September. We wouldn’t be surprised to see a test of $30 into Christmas although again we wouldn’t be chasing fresh highs.

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National Australia Bank (NAB) $28.20

NAB has outperformed in the Banking Sector over the last 3-months rallying 4.4% compared to say ANZ Bank (ANZ) which has fallen 4.6%. At MM we are hoping to increase our exposure to the sector via VUK at lower levels and while a pullback in NAB wouldn’t surprise after this month’s fresh multi-year high we have no interest in risking losing our position here, especially with a healthy dividend due in November.

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The Banking Sector

Secondly, as previously flagged MM has been watching UK based bank Virgin Money (VUK) into recent weakness i.e. over the last month NAB has rallied 1.5% while VUK has fallen 5%, not spectacular but still a useful performance differential if compounded over the year. MM has moved underweight the Banking Sector holding just 5% in CBA and NAB respectively...

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National Australia Bank (NAB) v ANZ Bank (ANZ)

The strong move by NAB yesterday led me to consider whether it had rallied too far ahead of its peers i.e. over the last months its rallied +6.7% while ANZ Bank (ANZ) has slipped -0.8%. However a quick glance at the 2 similarly priced banks illustrates it’s been more a case of performance catch-up by NAB as the balance that’s been in play since before the pandemic simply returned.

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National Australia Bank (NAB) $26.09

The banks have taken the gloss off of the ASX in recent weeks as the yield curve contraction sparked by the Fed last week appears to have removed a major sector tailwind from the macro backdrop.

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Flagship Growth Portfolio – Amendments

We are buying Bravura, trimming 2 bank positions to target a new purchase in a regional bank while we're also up weighting a number of existing positions largely in the tech / growth space.

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National Bank (NAB) $27.37

This morning NAB released FY21 results that look positive on first read through, with nearly all metrics a touch ahead of expectations.  

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National Australia Bank (NAB) $27.23

NAB is following in the footsteps of WBC with a just a touch less momentum, our ideal entry level is back towards $25 which might be possible post its dividend which is also due on the 13th of this month.

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ACTION

NAB
UPDATED 01/10/2021 18:09
MM is bullish NAB medium term
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IFL
UPDATED 29/09/2021 09:40
MM are trimming CBA, NAB & IFL by 1% each in the Income Portfolio to raise cash for a new purchase
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NAB
UPDATED 20/09/2021 08:24
MM remains bullish NAB medium term
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NAB
UPDATED 06/09/2021 08:54
MM is happy with our CBA & NAB exposure to the Banking Sector
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NAB
UPDATED 12/08/2021 11:11
MM are trimming NAB in the Flagship Growth Portfolio, taking profit around $27.25
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NAB
UPDATED 25/06/2021 11:22
MM likes NAB under $25
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CBA
UPDATED 09/06/2021 12:01
MM are trimming CBA & NAB in the Flagship Growth Portfolio reducing by 3% taking each weighting to 7%
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NAB
UPDATED 06/05/2021 17:07
We remain bullish NAB
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NAB
UPDATED 04/05/2021 16:56
NAB
UPDATED 21/04/2021 16:38
MM is considering trimming our NAB position
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'Big 4' Australian Bank

National Australia Bank (NAB) is an international banking group which operates in Australia, New Zealand, Europe, Asia and the United States. The Group offers banking services, credit and access card facilities, leasing, housing and general finance, international and investment banking, wealth and funds management, life insurance and custodian, trustee and nominee services. Like the rest in the sector, the next few years should be better than the last few.

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National Australia Bank (NAB)
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National Australia Bank (NAB)
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National Australia Bank (NAB)
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National Australia Bank (NAB) v Virgin Money UK (VUK)
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National Australia Bank (NAB) v ANZ Bank (ANZ)
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National Australia Bank (NAB)
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National Australia Bank (NAB)
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National Australia Bank (NAB)
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National Australia Bank (NAB)
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National Australia Bank (NAB)
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National Australia Bank (NAB)
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National Australia Bank (NAB)
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National Bank (NAB)
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National Australia Bank (NAB)
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National Bank (NAB)
National Australia Bank NAB Chart 200928
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National Australia Bank (NAB) Chart
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