Investment analysts at Citigroup have increased their price target for NatWest Group from GBX 690 to GBX 765, reflecting a potential upside of 19.49% from the stock’s current price. This adjustment, outlined in a research note released on October 30, 2023, comes along with a maintained “buy” rating for the stock, indicating confidence in its future performance.
Several other financial institutions have also revised their views on NatWest Group. On October 28, 2023, Jefferies Financial Group raised its price target from GBX 615 to GBX 630, maintaining a “buy” rating. Royal Bank of Canada set a new target of GBX 725, upgrading from GBX 650, while also assigning a “sector perform” rating. Additionally, Shore Capital increased its target from GBX 500 to GBX 550, giving it a “hold” rating. Lastly, JPMorgan Chase & Co. adjusted its target to GBX 700 from GBX 610, issuing an “overweight” rating.
Market Consensus and Recent Performance
Currently, the consensus rating for NatWest Group among analysts is a “Moderate Buy,” with an average target price of GBX 661.67, according to data from MarketBeat. The stock has seen a recent uptick, trading up 1.3% following its quarterly earnings announcement on October 24, 2023. In this earnings report, NatWest Group disclosed an earnings per share (EPS) of GBX 19.80, with a return on equity of 13.29% and a net margin of 18.21%. Analysts expect the company to post an estimated EPS of approximately 45.97 for the current fiscal year.
Insider Activity and Ownership
In related news, insider activity has highlighted confidence in the company’s prospects. On October 1, 2023, insider Richard Haythornthwait acquired 2,268 shares at an average price of GBX 525, totaling £11,907. Another insider, Roisin Donnelly, purchased 591 shares for a total of £3,102.75 at the same average price. Over the past ninety days, insiders have collectively acquired 6,541 shares, valued at approximately $3,439,815. Currently, 0.19% of the stock is held by insiders.
Founded nearly three centuries ago, NatWest Group operates primarily in the UK, serving over 20 million customers across retail, commercial, and private banking sectors. Its notable brands include NatWest, Royal Bank of Scotland, Ulster Bank, and Coutts. The recent analyst upgrades and insider activity may signal a positive outlook for the company as it continues to navigate the evolving financial landscape.
