The National Australia Bank Ltd (ASX: NAB) share price posted a decent performance in the first quarter of financial year 2023.
Indeed, investors who bought into the S&P/ASX 200 Index (ASX: XJO) big four bank at the end of June would be better off for it.
The NAB share price outperformed the market over the three months ended 30 September, closing last month at $28.81.
Meanwhile, the ASX 200 slumped 1.43% and the S&P/ASX 200 Financials Index (ASX: XFJ) lifted 0.66%.
So, if one were to have snapped up $2,000 worth of NAB shares at the end of financial year 2022, how much would their investment be worth now? Keep reading to find out.
NAB shares gained 5.2% in the September quarter
If you bought NAB shares at the end of financial year 2022, pat yourself on the back.
A $2,000 investment at the end of June likely would have seen an investor with 73 NAB shares valued at $27.39 each.
Such a parcel would have been worth $2,103 at the end of September, marking a 5.15% return on investment.
And while I would love to also factor dividends into the equation, I unfortunately cannot.
The bank hasn’t declared a payout since its 73-cent interim dividend, for which the stock traded ex-dividend in May.
Though, patient investors will likely be rewarded with a dividend offering when the company releases its full-year earnings in November.
Interestingly, NAB shares gained 5% in the September quarter without the bank releasing all that much news.
The only price-sensitive announcement from the bank over the period was its third-quarter trading update.
That saw it posting an unaudited statutory net profit of $1.85 billion and a $1.8 billion quarterly cash profit.
Right now, the NAB share price is 2% higher than it was at the start of 2022. It has also lifted 7% since this time last year.
For comparison, the ASX 200 has slumped almost 11% year to date and 6% over the last 12 months.
The post If you’d bought $2,000 of NAB shares at the end of FY22, here’s how much you’d have now appeared first on The Motley Fool Australia.
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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 no position in any of the stocks mentioned. 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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