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.
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.
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