ASX investors are enjoying another exceptional day on the stock market. The S&P/ASX 200 Index (ASX: XJO) is currently sitting at 8,518.1 points this Thursday, up a hearty 1.2%. But let's talk about what's happening with National Australia Bank Ltd (ASX: NAB) shares.
NAB shares are having an extraordinary day this session. The ASX 200 bank stock and blue-chip share is currently up 2.26% today at $40.28 a share. That was after the bank closed at $39.39 yesterday afternoon and opened at $39.89 this morning.
But during the trading day, NAB stock got as high as $40.48.
For one, that's a new 52-week high for NAB. But it's also the highest this bank has traded at in a very long time. Not even at the height of the 2015 bank share price surge did NAB get to the $40 mark. To find the last time this happened, we have to go way back to before the global financial crisis.
Yep, the last time NAB shares were at $40 each was in November 2007. A good 18 years ago (and then some).
Check it out for yourself below:
As it stands right now, the NAB share price is up a healthy 8.25% in 2025 to date and an even rosier 25.16% over the past 12 months. Any lucky investor who was fortunate enough to pick up some NAB shares during the COVID lows of March 2020 would now be sitting on a gain of over 160%.
Image source: Getty Images
Are NAB shares still a buy today?
With these gains under the belt, many investors might be wondering whether it's too late to buy NAB shares. Or even whether they should sell NAB if they already own it.
Last month, my Fool colleague Zach looked at what ASX experts were saying.
As we noted at the time, brokers at Macquarie, as well as fundies at Firetrail Investments, both rated NAB as a 'hold'. Macquarie analyst Victor German noted that NAB, alongside the other ASX bank stocks, "are trading at their highest levels in absolute and relative terms, making them some of the most expensive stocks on the market".
However, German also argued that "the catalyst for near-term underperformance isn't clear, as we see upside risk to near-term earnings underpinned by the resilient economic conditions and better-than-expected funding conditions".
Another broker in Bell Potter wasn't as generous though. This broker labelled NAB shares as a 'sell' back in December, stating that the "upside appeal appears limited".
So, arguably, there is not much consensus that NAB shares have much further to climb from these ASX experts. But we'll have to wait and see what 2025 has in store for this ASX 200 bank stock.
