NatWest Group (NYSE:NWG) Shares Gap Up Following Earnings Beat

NatWest Group plc (NYSE:NWG)’s stock price gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $7.38, but opened at $7.79. NatWest Group shares last traded at $7.79, with a volume of 811,128 shares trading hands.

The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The business had revenue of $3.48 billion during the quarter.

NatWest Group Increases Dividend

The firm also recently announced a — dividend, which will be paid on Monday, April 29th. Shareholders of record on Friday, March 15th will be issued a $0.2896 dividend. The ex-dividend date is Thursday, March 14th. This represents a yield of 6.4%. This is a boost from NatWest Group’s previous — dividend of $0.14.

Hedge Funds Weigh In On NatWest Group

A number of large investors have recently bought and sold shares of NWG. Barclays PLC bought a new position in NatWest Group in the second quarter worth about $35,000. DAVENPORT & Co LLC bought a new position in NatWest Group in the third quarter worth about $141,000. Clarius Group LLC acquired a new stake in shares of NatWest Group in the third quarter valued at approximately $122,000. Raymond James & Associates increased its stake in shares of NatWest Group by 2.6% in the third quarter. Raymond James & Associates now owns 1,580,286 shares of the company’s stock valued at $9,213,000 after purchasing an additional 40,039 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of NatWest Group by 14.3% in the third quarter. Bank of New York Mellon Corp now owns 146,714 shares of the company’s stock valued at $855,000 after purchasing an additional 18,345 shares during the period. Institutional investors own 1.27% of the company’s stock.

NatWest Group Stock Up 6.2 %

The firm’s 50 day simple moving average is $6.65 and its 200 day simple moving average is $5.83. The company has a market cap of $34.26 billion, a price-to-earnings ratio of 7.33, a price-to-earnings-growth ratio of 4.51 and a beta of 1.42. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.15.

About NatWest Group

NatWest Group plc, together with its subsidiaries, provides banking and financial products and services to personal, commercial, corporate, and institutional customers in the United Kingdom and internationally. It operates through Retail Banking, Private Banking, and Commercial & Institutional segments.