Bank of America Corp DE Raises Stock Holdings in NatWest Group plc $NWG

Bank of America Corp DE boosted its position in NatWest Group plc (NYSE:NWG) by 17.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,948,264 shares of the company’s stock after purchasing an additional 1,048,804 shares during the quarter. Bank of America Corp DE’s holdings in NatWest Group were worth $103,529,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of NWG. Janus Henderson Group PLC lifted its position in NatWest Group by 66.4% during the 1st quarter. Janus Henderson Group PLC now owns 29,296 shares of the company’s stock valued at $437,000 after acquiring an additional 11,687 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of NatWest Group by 35.6% during the first 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. Quantinno Capital Management LP lifted its holdings in shares of NatWest Group by 14.0% during the first quarter. Quantinno Capital Management LP now owns 889,533 shares of the company’s stock valued at $13,254,000 after purchasing an additional 109,338 shares during the last quarter. Entropy Technologies LP grew its stake in shares of NatWest Group by 39.0% in the 1st quarter. Entropy Technologies LP now owns 120,979 shares of the company’s stock worth $1,803,000 after buying an additional 33,930 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of NatWest Group in the 1st quarter worth approximately $1,807,000. Institutional investors own 1.27% of the company’s stock.

NatWest Group Price Performance

Shares of NatWest Group stock opened at $19.18 on Friday. The company has a market capitalization of $76.44 billion, a price-to-earnings ratio of 9.54, a PEG ratio of 0.97 and a beta of 0.92. The company has a quick ratio of 1.04, a current ratio of 1.03 and a debt-to-equity ratio of 0.15. The stock’s 50-day simple moving average is $17.48 and its 200-day simple moving average is $16.63. NatWest Group plc has a 52 week low of $13.56 and a 52 week high of $19.42.

NatWest Group (NYSE:NWG) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.09. The firm had revenue of $5.89 billion for the quarter, compared to analysts’ expectations of $5.90 billion. NatWest Group had a net margin of 20.10% and a return on equity of 14.01%. As a group, analysts expect that NatWest Group plc will post 1.97 earnings per share for the current fiscal year.

NatWest Group Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, September 18th. Investors of record on Friday, August 14th will be issued a $0.3222 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a dividend yield of 340.0%. NatWest Group’s dividend payout ratio (DPR) is presently 60.20%.

Analysts Set New Price Targets

NWG has been the topic of several analyst reports. Zacks Research downgraded NatWest Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Keefe, Bruyette & Woods raised NatWest Group from a “hold” rating to a “moderate buy” rating in a research report on Friday, July 17th. Berenberg Bank assumed coverage on shares of NatWest Group in a research note on Wednesday, June 24th. They set a “buy” rating on the stock. BNP Paribas Exane upgraded shares of NatWest Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 11th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of NatWest Group in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

NatWest Group Company Profile

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.