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NatWest Shares (LON: NWG) Up This Morning As JP Morgan Hike Price Target, And Repurchase Continues

Analyst Team trader
Updated 4 Jul 2024

Natwest shares (LON: NWG) are trading higher this morning, up 1.3% as an upgraded price target moves the stock close to 50% gains through 2024 so far. With the firm's H1 results due on 26th July, attention is beginning to intensify around the stock.

Analysts at JPMorgan raised their price target for the shares of NatWest Group from 350p to 370p, reflecting more than 15% potential upside. The bank continues to buy back and terminate shares from the float, with a little over 1million NWG shares repurchased yesterday at a VWAP close to 320p.

Across the spectrum of analysts covering NatWest Group, the stock currently holds an average rating of ‘Moderate Buy' and an average price objective of 319p.

NatWest Group is a prominent player in the financial sector, offering a broad array of banking and financial products and services. Its operations cater to variegated customer segments in the United Kingdom and internationally through its subsidiaries. The bank's business activities are organized through several principal segments, including Retail Banking, Private Banking, and Commercial & Institutional banking.

In terms of market capitalization, NatWest Group stakes a significant presence with £28.42 billion, showcasing its substantial size within the market.

The commitment of insiders to the stability and growth of NatWest Group is notable, with recent purchases illustrating confidence in the bank's direction. Overall, company insiders own a considerable portion of the bank's shares, with 27.08% of the stock being held internally.

The increased price target from JPMorgan reflects a positive outlook on NatWest Group's financial health and its future prospects within the banking industry. The continued repurchase of shares is also a good indicator of cash on hand, and of a company aiming to deliver shareholder value.

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The AskTraders Analyst Team features experts in technical and fundamental analysis, as well as traders specializing in stocks, forex, and cryptocurrency.