NatWest Group plc (NYSE:NWG) Short Interest Up 117.8% in June

NatWest Group plc (NYSE:NWG) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totaling 1,747,359 shares, an increase of 117.8% from the May 31st total of 802,160 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily volume of 4,469,624 shares, the days-to-cover ratio is presently 0.4 days.

Wall Street Analysts Forecast Growth

NWG has been the topic of several recent research reports. BNP Paribas Exane raised NatWest Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 11th. Wall Street Zen lowered NatWest Group from a “buy” rating to a “hold” rating in a research report on Saturday. Keefe, Bruyette & Woods cut shares of NatWest Group from a “moderate buy” rating to a “hold” rating in a report on Monday, April 20th. Weiss Ratings cut shares of NatWest Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Finally, Zacks Research downgraded shares of NatWest Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Institutional Investors Weigh In On NatWest Group

A number of institutional investors have recently modified their holdings of NWG. NewEdge Advisors LLC increased its holdings in shares of NatWest Group by 4.1% during the first quarter. NewEdge Advisors LLC now owns 59,729 shares of the company’s stock valued at $890,000 after acquiring an additional 2,333 shares in the last quarter. Glenmede Trust Co. NA raised its position in shares of NatWest Group by 3.5% in the 1st quarter. Glenmede Trust Co. NA now owns 59,415 shares of the company’s stock worth $885,000 after purchasing an additional 1,994 shares during the last quarter. Bank of America Corp DE boosted its stake in NatWest Group by 17.8% in the 1st quarter. Bank of America Corp DE now owns 6,948,264 shares of the company’s stock worth $103,529,000 after purchasing an additional 1,048,804 shares in the last quarter. Janus Henderson Group PLC boosted its stake in NatWest Group by 66.4% in the 1st quarter. Janus Henderson Group PLC now owns 29,296 shares of the company’s stock worth $437,000 after purchasing an additional 11,687 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in NatWest Group by 35.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 18,245 shares of the company’s stock valued at $272,000 after purchasing an additional 4,792 shares during the last quarter. 1.27% of the stock is owned by hedge funds and other institutional investors.

NatWest Group Price Performance

NWG stock opened at $17.46 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a 50 day moving average price of $16.06 and a 200-day moving average price of $16.46. NatWest Group has a 52-week low of $12.91 and a 52-week high of $19.35. The firm has a market capitalization of $69.63 billion, a price-to-earnings ratio of 9.29, a PEG ratio of 0.92 and a beta of 0.93.

NatWest Group (NYSE:NWG) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.04. NatWest Group had a return on equity of 13.30% and a net margin of 19.11%.The company had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.80 billion. Equities research analysts forecast that NatWest Group will post 1.97 EPS for the current fiscal year.

About NatWest Group

NatWest Group plc is a major UK-based banking and financial services group headquartered in Edinburgh, Scotland. The company traces its roots to the Royal Bank of Scotland, founded in 1727, and adopted the NatWest Group name in 2020 as part of a strategic refocus on its NatWest brand. NatWest Group is listed on the London Stock Exchange and also has American depositary shares trading on the New York Stock Exchange under the symbol NWG.

The group provides a broad range of banking services across retail, private, commercial, corporate and institutional segments.