Berenberg Bank Begins Coverage on NatWest Group (NYSE:NWG)

Investment analysts at Berenberg Bank began coverage on shares of NatWest Group (NYSE:NWG) in a report issued on Wednesday, MarketBeat reports. The brokerage set a “buy” rating on the stock.

NWG has been the subject of a number of other reports. Zacks Research downgraded NatWest Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Wall Street Zen raised shares of NatWest Group from a “hold” rating to a “buy” rating in a report on Sunday, June 14th. 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, BNP Paribas Exane upgraded shares of NatWest Group from a “hold” rating to a “strong-buy” rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, NatWest Group has an average rating of “Moderate Buy”.

NatWest Group Stock Down 1.2%

Shares of NYSE NWG traded down $0.20 during mid-day trading on Wednesday, hitting $17.07. The company had a trading volume of 1,213,460 shares, compared to its average volume of 4,030,826. The company has a market capitalization of $68.08 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 0.93 and a beta of 0.93. The business’s 50-day simple moving average is $16.02 and its 200 day simple moving average is $16.43. NatWest Group has a 1-year low of $12.91 and a 1-year high of $19.35. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04.

NatWest Group (NYSE:NWG) last issued 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. On average, analysts predict that NatWest Group will post 1.97 earnings per share for the current year.

Hedge Funds Weigh In On NatWest Group

Several hedge funds have recently added to or reduced their stakes in NWG. Bank of Montreal Can raised its holdings in NatWest Group by 136.0% during the third quarter. Bank of Montreal Can now owns 3,273,212 shares of the company’s stock worth $46,316,000 after purchasing an additional 1,886,141 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of NatWest Group by 4.5% in the 3rd quarter. Fisher Asset Management LLC now owns 39,234,322 shares of the company’s stock valued at $555,166,000 after buying an additional 1,702,930 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in shares of NatWest Group in the 3rd quarter valued at $16,650,000. Bank of America Corp DE grew its position in shares of 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 valued at $103,529,000 after buying an additional 1,048,804 shares during the last quarter. Finally, Morgan Stanley grew its position in shares of NatWest Group by 10.0% in the 4th quarter. Morgan Stanley now owns 11,061,146 shares of the company’s stock valued at $193,570,000 after buying an additional 1,009,044 shares during the last quarter. 1.27% of the stock is currently owned by hedge funds and other institutional investors.

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.