NatWest Group (NYSE:NWG) Sets New 1-Year High on Better-Than-Expected Earnings

NatWest Group plc (NYSE:NWG)’s stock price hit a new 52-week high on Monday following a better than expected earnings announcement. The company traded as high as $13.21 and last traded at $13.19, with a volume of 958511 shares. The stock had previously closed at $13.00.

The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.05. The firm had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $3.80 billion.

NatWest Group Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, April 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.3899 per share. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from NatWest Group’s previous semi-annual dividend of $0.36. This represents a dividend yield of 3.8%. NatWest Group’s dividend payout ratio is 51.68%.

Wall Street Analysts Forecast Growth

NWG has been the subject of several analyst reports. BNP Paribas downgraded shares of NatWest Group from an “outperform” rating to a “neutral” rating in a research note on Tuesday, March 4th. Citigroup reaffirmed a “buy” rating on shares of NatWest Group in a research report on Monday, April 28th. Finally, Peel Hunt lowered NatWest Group from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, March 6th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NatWest Group has an average rating of “Buy”.

Institutional Investors Weigh In On NatWest Group

Several large investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its holdings in NatWest Group by 374.5% during the 1st quarter. Bessemer Group Inc. now owns 2,102 shares of the company’s stock worth $25,000 after acquiring an additional 1,659 shares during the period. Whipplewood Advisors LLC bought a new position in shares of NatWest Group in the fourth quarter worth $27,000. Hilltop National Bank purchased a new stake in shares of NatWest Group in the fourth quarter worth $29,000. First Horizon Advisors Inc. boosted its stake in NatWest Group by 161.4% during the fourth quarter. First Horizon Advisors Inc. now owns 2,894 shares of the company’s stock valued at $29,000 after buying an additional 1,787 shares during the period. Finally, Pinnacle Bancorp Inc. purchased a new position in NatWest Group during the first quarter worth about $30,000. Hedge funds and other institutional investors own 1.27% of the company’s stock.

NatWest Group Stock Performance

The company has a 50-day moving average of $12.08 and a 200 day moving average of $10.95. The firm has a market capitalization of $51.82 billion, a PE ratio of 9.46, a PEG ratio of 0.85 and a beta of 1.01. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.16.

About NatWest Group

NatWest Group plc, together with its subsidiaries, provides banking and financial products and services to personal, commercial, corporate, and institutional customers in the United Kingdom and internationally. It operates through Retail Banking, Private Banking, and Commercial & Institutional segments.