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Prices & Quotes - UK Markets - NATWEST GROUP PLC ORD 100P (NWG)

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Share Price:
Down 189.30p
Change Today:
-0.30p
Market Cap:
21,913m
Sector:
Banks

JP Morgan upgrades Lloyds Banking Group

By Sean Farrell

Date: Monday 22 Mar 2021

LONDON (ShareCast) - (Sharecast News) - JP Morgan upgraded Lloyds Banking Group to 'overweight' and predicted the strengthening UK yield curve would end the underperformance of the country's banks.
The outlook for UK lenders to return capital will improve materially over the next 12 months helped by NatWest's buyback of government-owned shares, JP Morgan said. Less uncertainty over capital returns should reduce cost of equity for the sector, the broker said.

The outlook for domestic net interest income (NII) is improving significantly based on analysis of product prices, JP Morgan said. The bank kept Barclays as its top pick and upgraded Lloyds from 'neutral' with a price target increased to 51p from 42p.

"We now believe that most of the concerns around the Lloyds investment case are in consensus expectations, with NII recover undiscounted," JP Morgan analyst Raul Sinha said in a note to clients. "We believe that the material steepening of the UK curve is likely to end the multi-year underperformance of UK banks."

Sinha increased his price targets for both NatWest and Barclays to 210p from 190p and kept NatWest's 'neutral' rating. He upped Virgin Money's price target to 180p from 130p but cut his rating on the bank to 'underweight' from 'neutral'.

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NWG Market Data

Currency UK Pounds
Price 189.30p
Change Today -0.30p
52 Week High 203.50p
52 Week Low 93.32p
Volume 66,943,871
Shares Issued 11,576m
Market Cap 21,913m
Beta 0.04

Performance Indicators

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What The Brokers Say

Strong Buy 9
Buy 0
Neutral 11
Sell 1
Strong Sell 3
Total 24
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

NWG Dividends

  Latest Previous
  Final Interim
Ex-Div 25-Mar-21 15-Aug-19
Paid 04-May-21 20-Sep-19
Amount 3.00p 2.00p

Trades for 13-May-2021

Time Volume / Share Price
16:53 200,000 @ 186.58p
16:39 260,000 @ 189.30p
16:37 250,000 @ 188.19p
16:35 44,691,589 @ 189.30p
16:29 2,000 @ 188.30p

NWG Key Personnel

Chair Howard Davies