The National Australia Bank Ltd. (ASX: NAB) share price continued its upwards trajectory for the majority of the Month of April.
The banking giant’s shares gained almost 4% until late last week before recording four consecutive days of losses.
Nonetheless, NAB shares finished trading on Friday 1.37% higher to $32.63. This means that for April, its shares have remained relatively flat.
Meanwhile, the S&P/ASX 200 Index (ASX: XJO) finished the month up 1.06% at 7,435 points.
When looking at the other major banks, NAB fared quite well.
The Commonwealth Bank of Australia (ASX: CBA) share price dropped around 2.1% in April, while Westpac Banking Corp (ASX: WBC) and Australia and New Zealand Banking Group Ltd (ASX: ANZ) sunk 2.61% and 2.08%, respectively.
How is the NAB share price valued?
While the bank didn’t release any market announcements throughout the month, a couple of brokers did weigh in on the NAB share price.
The team at Citi raised its 12-month price target for the bank’s shares by 8.2% to $33 apiece. It appears that the broker believes that NAB is fully valued at the moment, with investors agreeing alike given the current share price.
On the other hand, analysts at Morgans had a slightly more bullish take, raising its rating by 11% to $34.
Based on the bank’s share price, this implies an upside of roughly 5% from where it trades today.
NAB share price summary
Despite seesawing in April, the NAB share price has actually risen by 11% in 2022.
When looking further back, its shares are up 22% over the past 12 months.
Notably, the bank’s shares reached a 52-week high of $33.75 on 21 April, before giving up their gains.
NAB commands a market capitalisation of about $103.60 billion, making it the fourth largest company on the ASX.
The post Here’s how the NAB share price stacked up in April appeared first on The Motley Fool Australia.
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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. 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 recommended Westpac Banking Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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