How has the NAB share price performed since reporting results

The bank reported a huge boost in its H1FY21 cash earnings.

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The National Australia Bank Ltd. (ASX: NAB) share price is down 0.32% in afternoon trading, to $28.14 per share.

The S&P/ASX 200 Index (ASX: XJO) is slipping as well, down 0.3%.

Some 4 months has passed since the big four bank released its half-year results for the 6 months ending 31 March (H1FY21). We take a look at how the NAB share price has been tracking since.

But first, a quick recap of the key results.

What did the ASX 200 bank report for H1FY21?

The NAB share price was in the spotlight on 6 May, when the bank released its results before market open.

Some of the key metrics the bank reported included a 1% lift in revenue compared to the prior corresponding half year. It also reported a 94.8% leap in cash earnings to $3.34 billion.

On another positive front, NAB reported its writeback of credit impairment charges fell to $128 million, down from $1.16 billion in H1FY20.

ASX income investors would have been pleased with the dividend payout, though that didn’t prevent NAB’s share price sliding on the day. The bank declared a fully-franked interim dividend of 60 cents per share, up from 30 cents per share in the prior corresponding period.

Ross McEwan, NAB’s CEO, said in the results announcement that, “There is growing momentum across our bank, reflecting our investment in key strategic priority areas. While there is still much to do, we are progressing on our ambition to deliver better outcomes for customers and colleagues. Focus and execution remain key.”

The bank is scheduled to release its full 2021 financial year results on 9 November.

How has the NAB share price performed since reporting results?

On the day of reporting the comany’s half-year results the NAB share price dropped 3%, closing at $26.56 per share.

Since the opening bell on 6 May, NAB’s shares are up 2.5%. That compares to a gain of 4.3% posted by the ASX 200 over that same period.

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