Why did the NAB share price hit a record high today?

A strong NAB Q1 trading update lifted sentiment. Cash earnings rose 16% to A$2.02 billion on robust lending and stable margins. Volume spiked above average, and momentum indicators stayed positive. Together, these factors supported a breakout to A$48.68 intraday and a close at A$48.28, boosting confidence across ASX banks.

Is NAB expensive after the rally?

NAB trades on a TTM P/E of 28.49 and P/B of 2.29, both above long-run bank averages. The price sits well above its 50-day and 200-day moving averages, reflecting a quality premium. That premium looks reasonable if margins and credit hold, but any slip in earnings or cost control could compress multiples.

What technical levels should traders watch on NAB?

Near-term support is around A$47.10 to A$46.50, while resistance is the new record at A$48.68. ATR at 0.87 implies active daily ranges. RSI at 63 suggests bullish momentum without being overbought. A retest of A$48.00 or A$47.50 is possible if momentum cools or broader market tone softens.

What are the next catalysts for NAB earnings 2026?

Key drivers include margin trends, deposit mix, arrears, and cost control ahead of the 4 May 2026 update. Watch management commentary on lending growth and competitive intensity. Any shift in credit charges or expense guidance could sway the NAB share price and influence positioning across ASX banks.

Global Market Insights

NAB.AX Stock Today: Record High After Q1 Profit Beat – February 19

ByDanny Kontos February 19, 2026

The NAB share price jumped to a record intraday high after a stronger NAB Q1 trading update. Cash earnings rose 16% to A$2.02 billion on robust lending and stable margins, lifting confidence across ASX banks today. Shares in NAB.AX traded at A$48.28, up 6.5% for the session, with volume well above average. The NAB share price surge sharpens focus on bank profitability and resilience through the rate cycle. We break down what drove the move, the technical setup, and what it means for investors in Australia.