London, Feb 26, 2026, 08:55 (GMT) — Regular session
- NatWest shares ticked higher in early London trade as the lender kept up its buyback updates.
- UK bank stocks stayed sensitive to the broader tape after a strong session for the FTSE 100.
- A UK fiscal update next week and NatWest’s dividend calendar are the next near-term markers.
NatWest Group (NWG.L) shares edged higher in early London trade on Thursday. The NatWest share price was up 0.1% at 616.2 pence by 0840 GMT after opening at 616.8 pence. The stock has traded between 611.8 and 619.2 pence so far. (Share Prices)
The lender has been feeding the market near-daily disclosures on its buyback, a mechanical source of demand that can steady trading when the broader mood turns. A share buyback is when a company repurchases its own stock, shrinking the share count and potentially lifting earnings per share.
NatWest ended Wednesday up 1.82% at £6.15, outperforming the broader market as the FTSE 100 closed at a record high, helped by HSBC. HSBC jumped 7.9% after raising a profitability target, and the FTSE ended up 1.18% on the day. (MarketWatch)
In a filing dated Feb. 25, NatWest said it bought back 467,642 ordinary shares from UBS AG, London Branch, paying between 607.8 pence and 614.4 pence across venues including the London Stock Exchange, CHIX and BATE. The bank plans to cancel the stock and said it would hold 217,878,410 shares in treasury and have 7,976,936,122 shares in issue, excluding treasury shares, after settlement. The volume-weighted average price on the LSE — an average price weighted by trading volume — was 611.41 pence, the filing showed. (Investegate)
NatWest announced the current £750 million buyback alongside its agreement to buy wealth manager Evelyn Partners for £2.7 billion, its biggest deal since the 2008 rescue. “Although we consider this to be a bolt on transaction, it would be transformational, filling the gap NWG has in its affluent wealth offering,” RBC Capital Markets analyst Benjamin Toms wrote in a note. (Reuters)
On Feb. 13, NatWest reported a 24% jump in 2025 pretax profit to £7.7 billion and raised its return on tangible equity — a key profitability measure — target to more than 18% in 2028. Chief Executive Paul Thwaite said it was “raising our ambition and sharpening our strategic focus, with stretching new targets in place”. (Reuters)
Still, buybacks do not insulate the stock from a turn in the cycle. A weaker UK economy, a faster drop in rates or fresh worries about bad loans could drag bank shares and swamp the steady bid from repurchases.
Traders now look to Tuesday, March 3, when finance minister Rachel Reeves delivers a budget update and the Office for Budget Responsibility publishes new forecasts for growth and borrowing. Reeves is aiming for a low-key event, but any shift in those projections can move sentiment around domestically focused lenders. (Reuters)
NatWest investors also have company dates: the proposed 23.0 pence final dividend for 2025 is due to go ex-dividend on March 19 — when the stock starts trading without entitlement to the payout — ahead of a May 5 payment, subject to shareholder approval at the April 28 AGM. The bank’s next scheduled results are on May 1, with first-quarter numbers. (Natwestgroup)
