NatWest Group (NYSE:NWG) Releases Earnings Results, Beats Expectations By $0.09 EPS

13 Feb 2026, 18:22 by Mitch Edgeman · The Markets Daily

NatWest Group (NYSE:NWG – Get Free Report) issued its earnings results on Friday. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.09, Zacks reports. The business had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.59 billion. NatWest Group had a return on equity of 12.77% and a net margin of 18.18%.

Here are the key takeaways from NatWest Group’s conference call:

Delivered a strong FY2025: income (ex-notables) up 12% to £16.4bn, operating profit £7.7bn, attributable profit £5.5bn, EPS +27%, cost‑income ratio down to 48.6% and total shareholder distributions of £4.1bn.
2026 guidance and 2028 targets show clear growth and return ambitions — 2026: income (ex-notables) £17.2–17.6bn, opex ~£8.2bn, impairment 17%; 2028 targets include CAL growth >4% p.a., cost‑income 18%.
Announced acquisition of Evelyn Partners (adds ~£69bn AUMA) to scale private banking/wealth to ~20% of the group, with management expecting material revenue synergies (~£700m+), ~£100m run‑rate cost synergies and accretion to returns by year three (day‑one CET1 impact ≈130bps).
Management expects a material hedge income tailwind from its product and equity structural hedges — roughly +£1.5bn in 2026 vs 2025 and further uplift into 2027–2030 — supporting margin expansion under stated reinvestment assumptions.
Regulatory/RWA headwinds remain — implementation of Basel 3.1 is expected to increase RWAs by ~£10bn from Jan 2027, raising nominal CET1 requirements and creating potential pressure on capital/distribution flexibility despite planned capital generation.

NatWest Group Price Performance

NWG traded down $0.33 during midday trading on Friday, hitting $16.00. The company had a trading volume of 6,179,556 shares, compared to its average volume of 3,362,762. NatWest Group has a twelve month low of $10.40 and a twelve month high of $19.35. The company has a market capitalization of $64.06 billion, a PE ratio of 9.30, a P/E/G ratio of 0.59 and a beta of 0.96. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The firm’s 50-day simple moving average is $17.45 and its 200-day simple moving average is $15.76.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in shares of NatWest Group in the 3rd quarter valued at $16,650,000. Citadel Advisors LLC boosted its holdings in NatWest Group by 150.7% in the third quarter. Citadel Advisors LLC now owns 1,612,872 shares of the company’s stock valued at $22,822,000 after acquiring an additional 969,546 shares during the last quarter. Millennium Management LLC increased its position in NatWest Group by 42.4% in the third quarter. Millennium Management LLC now owns 3,166,315 shares of the company’s stock worth $44,803,000 after purchasing an additional 942,059 shares during the period. Qube Research & Technologies Ltd raised its holdings in NatWest Group by 318.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 970,769 shares of the company’s stock worth $13,736,000 after purchasing an additional 738,671 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in NatWest Group by 41.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,451,886 shares of the company’s stock valued at $34,694,000 after purchasing an additional 723,115 shares during the period. 1.27% of the stock is currently owned by institutional investors.

NatWest Group News Roundup

Here are the key news stories impacting NatWest Group this week:

Positive Sentiment: Q4/FY25 beat and stronger profitability — NatWest reported $0.46 EPS vs. $0.37 consensus and revenue of $5.74B vs. $5.59B, with a healthy net margin and ROE; management guided for further income and profitability improvement. NatWest earnings and call transcript
Positive Sentiment: Shareholder returns stepped up — Management announced a £750m share buyback for H1 2026 and signaled higher medium-term payout ambition, which supports income-focused investors. Proactive Investors: shareholder returns
Positive Sentiment: Acquisition expands fee income and assets under management — The £2.7bn Evelyn Partners deal should more than double AUMA, diversifying revenue away from net interest income and supporting longer-term fee growth. Seeking Alpha: upgrade/dip worth buying
Positive Sentiment: Analyst upgrade — Zacks moved NWG from Hold to Strong Buy, reflecting the better-than-expected results and outlook. Zacks Research upgrade
Neutral Sentiment: Investor materials and guidance detail — Management provided slide deck and call materials outlining structural hedge benefits and guidance to grow hedge income through 2030; useful for modeling but not an immediate catalyst. Earnings presentation
Negative Sentiment: Policy change on fossil-fuel lending triggered investor pushback — NatWest softened its fossil-fuel lending rules alongside results; activist group ShareAction called for opposing the chair’s re-election, creating ESG/governance risks that likely pressured the stock despite the beat. Reuters: fossil-fuel lending rules softened

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NWG shares. The Goldman Sachs Group restated a “neutral” rating on shares of NatWest Group in a research note on Thursday, December 4th. Barclays reissued an “equal weight” rating on shares of NatWest Group in a research note on Wednesday, January 7th. Zacks Research raised shares of NatWest Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of NatWest Group in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Check Out Our Latest Stock Report on NatWest Group

NatWest Group Company Profile

(Get Free Report)

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.