The National Australia Bank Ltd (ASX: NAB) share price is outperforming all its S&P/ASX 200 Index (ASX: XJO) peers on Friday despite trading in the red.
Stock in the big four bank has slipped 0.72% at the time of writing to trade at $29.06.
That leaves it in a better position than both the ASX 200 and the S&P/ASX 200 Financials Index (ASX: XFJ). They’ve fallen 0.79% and 1.48% respectively at the time of writing.
Let’s take a closer look at how the NAB share price is performing compared to other ASX 200 bank stocks today.
NAB share price leads the pack on Friday
The NAB share price is down just 0.7% on Friday afternoon, making it the best performing ASX 200 bank.
Coming in second best is the Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price, with a 1.16% fall that sees it trading at $23.10.
Meanwhile, stock in Commonwealth Bank of Australia (ASX: CBA) and Westpac Banking Corp (ASX: WBC) have dumped 1.74% and 1.23% respectively.
The CBA share price is $91.50 right now while that of Westpac is $20.86.
Looking to the ASX 200’s smaller banks, the Bank of Queensland Limited (ASX: BOQ) share price is down 1.13% at $6.555 right now. Finally, that of Bendigo and Adelaide Bank Ltd (ASX: BEN) has slipped 1.82% to $7.815.
As can be seen, the CBA share price is coming in worst dressed on Friday. That’s despite the bank announcing the Australian Prudential Regulation Authority (APRA) has removed a $500 million capital add-on.
The sector might also be suffering amid expectations the Reserve Bank of Australia could hike interest rates by 0.5% next week.
Westpac chief economist Bill Evans confirmed the forecasted hike, which would bring the benchmark cash rate to 2.85%, earlier this week.
Rising rates can be both a burden and a relief for banks, allowing them to increase net interest margins (NIM) while also increasing risks facing their loan books.
The NAB share price has outperformed the market over the last month, falling 5% to the ASX 200’s 7% tumble.
The post NAB share price best of the ASX 200 banks on Friday appeared first on The Motley Fool Australia.
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More reading
- Why I believe this ASX 200 share has the makings of a Buffett-style investment
- What’s the outlook for ASX 200 bank shares in October?
- Macquarie vs NAB shares: Which bank is the better buy right now?
- Why did the Macquarie share price trail the other ASX 200 banks today?
- Are NAB shares a buy for income investors right now?
Motley Fool contributor Brooke Cooper 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 positions in and has recommended Bendigo and Adelaide Bank Limited. 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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