Similar to Westpac, NAB doesn’t report and pay its next dividend until May but it is due to give the market a quarterly update next week. Yesterday the stock advanced +3.4%, making new all-time highs in the process. It’s the 3rd best performing ASX bank over the last year with its forecast 3.9% fully franked yield, well below that of ANZ at 4.6%.
- We like the NAB around $45.50 but having already popped to new highs we can see relative underperformance in the short term.
MM is cautiously bullish towards NAB around $45.50
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