NYSE · Asset Management · USD

AllianceBernstein National Municipal Income Fund, Inc. (AFB) Stock Analysis

AllianceBernstein National Municipal Income Fund, Inc. (AFB) is a Asset Management stock listed on NYSE and quoted in US Dollar.

Last Updated: October 21, 2026

AFB

$9.85

−$0.05 (−0.51%)

Oct 21, 2026 · Market close

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Price History

Hover for the daily close. The dotted line marks the period open.

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AFB Key Statistics

As of Oct 21, 2026

Trading

Open: $9.99
Previous Close: $9.90
Day's Range: 9.83–10.00
52-Week Range: 9.28–11.50
Volume: 83.86K
Beta: 0.70

Valuation

P/E Ratio: 12.31
EPS (ttm): 0.80

Financials (FY)

Revenue (FY): $3.84M−93.78%
Net Income (FY): $3.44M−94.39%
Profit margin: 82.25%
1-Year Return: −6.72%

Dividend and dates

Dividend: $0.60+6.08%
Ex-Dividend Date: October 1, 2026
Avg Volume: 116.92K

Only metrics the company reports are shown. Data provided by Yahoo Finance via yfinance. Updated daily.

Key facts

As of October 21, 2026, AFB closed at $9.85, −6.72% over 1 year.

In fiscal 2025, AFB reported revenue of $3.84M.

AFB Stock Return by Calendar Year

AllianceBernstein National Municipal Income Fund, Inc. (AFB) 10-year return: what $10,000 became

1 year: $10,000 $9,328; −6.72%
5 years: $10,000 $8,236; −17.64%
10 years: $10,000 $10,635; +6.35%

If you had invested $10,000 in AllianceBernstein National Municipal Income Fund, Inc. (AFB) 10 years ago, at the close on October 21, 2016, it would have been worth $10,635 at the close on October 21, 2026: +6.35% in total, +0.62% a year, with dividends reinvested. A historical calculation from closing prices adjusted for splits and dividends, before fees and taxes.

Calendar-year returns computed from daily closing prices. Partial years are shown muted and marked with an asterisk.

+20.15%−25.92%−5.60%

2016*2017201820192020202120222023202420252026*

Year	Return
2026 (partial year)	−5.60%
2025	+4.44%
2024	+4.14%
2023	+7.45%
2022	−25.92%
2021	+7.22%
2020	+7.79%
2019	+20.15%
2018	−5.42%
2017	+6.14%
2016 (partial year)	−9.27%

As of October 21, 2026.

AFB Revenue and Earnings by Fiscal Year

FY ends October

RevenueNet income

2022202320242025

Fiscal year	Revenue	Net income	Net margin
2025	$3.84M	$3.44M	89.6%
2024	$61.85M	$61.34M	99.2%
2023	−$812.10K	−$1.22M	150.2%
2022	−$97.11M	−$97.53M	100.4%

Fiscal year	Revenue	Gross profit	Operating income	Net income	Net margin
2025	$3.84M	—	—	$3.44M	89.6%
2024	$61.85M	—	—	$61.34M	99.2%
2023	−$812.10K	—	—	−$1.22M	150.2%
2022	−$97.11M	—	—	−$97.53M	100.4%

Annual figures as reported, in the company's reporting currency. As of October 31, 2025.

AFB Dividend History

’16’17’18’19’20’21’22’23’24’25’26*

$0.51+22.4% vs 2024

Dividends per share, 2025 · 12 payments

Year	Dividends per share	Payments	Change
2026*	$0.45	9	—
2025	$0.51	12	+22.4%
2024	$0.42	12	+6.1%
2023	$0.40	12	−28.3%

Year	Dividends per share	Payments	Change
2026 (partial year)	$0.45	9	—
2025	$0.51	12	+22.4%
2024	$0.42	12	+6.1%
2023	$0.40	12	−28.3%
2022	$0.55	12	−13.2%
2021	$0.64	12	+5.6%
2020	$0.60	13	+9.1%
2019	$0.55	12	+0.0%
2018	$0.55	12	−12.4%
2017	$0.63	12	+472.7%
2016	$0.11	2	—

Most recent payment: $0.05 per share, ex-dividend September 3, 2026. Per-share amounts summed by calendar year from ex-dividend dates. Partial years are shown muted and marked with an asterisk.

AFB Valuation vs Asset Management Median

Median of 512 stocks

Metric	AFB	Asset Management median	vs median
P/E	12.31	9.44	30% above
Profit margin	82.25%	74.97%	7.3 pts above

Medians across 512 Asset Management stocks that report the metric. Medians, not averages, so one outlier cannot move them. As of October 21, 2026.

Recent News

News provided by third-party sources. Not financial advice.

Analysis

Data-derived

Company Overview

AllianceBernstein National Municipal Income Fund, Inc. trades under the ticker AFB. The company sits in the Financial Services sector, in the Asset Management industry.

The most recent close on file for AFB is $9.85, dated October 21, 2026. That is −$0.05 (−0.51%) against the previous close. The 52-week range on file runs from $9.28 to $11.50. The latest close sits 6.14% above that 52-week low.

Financial Health

Fiscal 2025 revenue came to $3.84M. That is −93.78% against the prior fiscal year, when revenue was $61.85M. Net income for the same year was $3.44M. That is −94.39% against the prior fiscal year. Profit margin runs at 82.25%. That is 7.3 percentage points above the Asset Management median of 74.97%. Earnings per share on a trailing basis come to 0.8.

Across the 4 fiscal years on file, revenue moves from −$97.11M in 2022 to $3.84M in 2025. Of those 4 years, 2 report positive net income.

Valuation Assessment

The trailing P/E ratio stands at 12.31. That is 30.4% above the Asset Management median of 9.44. 512 Asset Management companies report these metrics, and the medians quoted come from that group.

Over the trailing twelve months the total return is −6.72%. Across 10 years the annualized return works out at +0.62%. Beta against the wider market is reported at 0.7. Daily returns over the trailing 10 years annualize to a volatility of 11.42%.

Growth & Income

The trailing dividend yield is 6.08%. That is 2.8 percentage points below the Asset Management median yield of 8.91%. The indicated annual rate is $0.60 a share. The ex-dividend date on file is October 1, 2026. Dividends are recorded for 11 calendar years; 2026 shows 9 payments totalling $0.45 a share. The year before, 2025, totalled $0.51 a share.

So far in 2026 the total return is −5.60%. Across the complete calendar years on file, 2019 returned +20.15% and 2022 returned −25.92%. Of the 9 complete calendar years on file, 7 finished higher.

Peer Comparison

AllianceBernstein National Municipal Income Fund, Inc. (AFB) operates in the Asset Management industry. Here is how it compares to its closest peers by market capitalization:

Company	Ticker	Market Cap	P/E Ratio
AllianceBernstein National Municipal Income Fund, Inc.	AFB	—	12.3
BlackRock, Inc.	BLK	$184.31B	25.8
Blackstone Inc.	BX	$127.43B	23.9
Brookfield Corporation	BN	$83.74B	69.5

The Asset Management industry average P/E ratio is 9.4x. AllianceBernstein National Municipal Income Fund, Inc. trades at a P/E of 12.3.

Every figure above is read from this page's own data on each daily rebuild. Informational only, not financial advice. As of October 21, 2026.

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About AllianceBernstein National Municipal Income Fund, Inc.

AllianceBernstein National Municipal Income Fund, Inc. is a closed-ended fixed income mutual fund launched and managed by AllianceBernstein L.P. The fund invests in the fixed income markets of the United States. It primarily invests in investment-grade municipal securities which pay interest that is exempt from federal income tax. The fund seeks to invest in bonds rated Baa/BBB or higher. It employs both quantitative and fundamental analysis to create its portfolio. AllianceBernstein National Municipal Income Fund, Inc. was formed on November 9, 2001 and is domiciled in the United States.

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