Natwest Shares (LON: NWG) Hit Multi Year High – Close To Double Up

Natwest’s share price (LON: NWG) has been on the radar of many for a while, and has continued the recent bullish run with a 0.58% gain on the day. The stock has hit a multi year high of 419.70, after a 95.3% gain over the past year. Today’s milestone comes as analysts forecast a promising outlook for the bank in the upcoming year.

In part, the bullish sentiment can be attributed to the bank’s strategic acquisitions last summer, including Sainsbury’s Bank and the residential mortgage portfolio from Metro Bank. These moves have bolstered Natwest’s market presence and diversified its portfolio.

In addition to these moves, Bank of America analysts predict a four percent annual loan growth for Natwest, especially within the commercial sector. This anticipated growth is expected to further enhance the bank’s profitability and market position.

Another advantage for Natwest is its lack of exposure to the motor finance cases currently affecting other banks. This lack of involvement shields the bank from potential financial setbacks in this particular area.

Bank of America analysts have set an optimistic price target for Natwest at 500p, whereas the current share price stands at 415p. The consensus of 466p also reflects a potential upside seen by the street of some 10% from here.