London, June 13, 2026, 17:02 (BST).
- NatWest Group Plc finished Friday at 614.20p, rising 4.53%. That outpaced the FTSE 100, which added 1.63%.
- NatWest said in a June 12 filing it’s still buying back its shares, with the repurchased stock to be cancelled.
- Next up is the Bank of England rate call on June 18, followed by half-year results from NatWest on July 31.
NatWest Group Plc finished Friday up 26.60p, or 4.53%, at 614.20p, as shares rallied into the weekend. The gain put the bank ahead of the FTSE 100, which added 167.84 points, or 1.63%, to end at 10,471.72. NatWest traded in a range from 599.20p to 615.00p. It was among the UK bank shares seeing increased interest.
NatWest’s latest “Transaction in Own Shares” update landed June 12. The bank said it repurchased ordinary shares from UBS AG London Branch between June 8 and June 11, with transactions showing up on the LSE, CHIX and BATE. NatWest said those buys are part of its current buyback program, adding it plans to cancel the repurchased shares. Once the trades settle, the bank said it will have 7.97 billion ordinary shares in issue, not counting treasury stock. Cutting the share count can lift earnings per share. Investegate
That’s important for the stock as capital returns are still key to the NatWest story. The group keeps a payout ratio around 50%, and says it can do buybacks as long as it sticks to its 13%-14% CET1 range. CET1, or Common Equity Tier 1, measures a bank’s core equity against risk-weighted assets.
NatWest’s buyback follows a solid first quarter. The bank booked £1.4 billion in attributable profit, with earnings per share at 17.9p, up 15.5% on the year. Return on Tangible Equity landed at 18.2%. RoTE tracks profit versus tangible equity and remains a key bank metric. Chief Executive Paul Thwaite called it a “strong performance” and said NatWest delivered for both customers and shareholders. NatWest Group Investors
NatWest’s story for bulls is strong returns, ongoing capital returns, and steady backing from the analyst community. LSEG data cited by Investors Chronicle shows no “sell” ratings among coverage as of June 11; the breakdown is four “buy,” seven “outperform,” and seven “hold.” Median 12-month price target from 15 analysts is 730p—an 18.85% gain from current levels at 614.20p. The top estimate sees 840p. Investors Chronicle
The worry for bears is that after a big jump in a single session, the stock isn’t flying under the radar now and is still tied tightly to UK rates. Investors Chronicle gives NatWest a beta of 1.55, so shares have tended to swing harder than the broad market. The lowest analyst target sits at 600p, just under where it closed Friday. The Bank of England’s Bank Rate is at 3.75%, inflation is running at 2.8%, over the 2% goal, and the next rate call is set for June 18. Net interest margin for UK lenders like NatWest is sensitive to rate moves—it’s the spread between what banks earn on loans and pay for deposits and funding.
All eyes now turn to the Bank of England’s June 18 decision, with NatWest’s half-year numbers due July 31. The focus is on loan growth, deposit flows, impairment charges and pace of buybacks to see if per-share returns hold up, especially if rate views change before the results.
NatWest is showing strong profitability and is buying back shares, according to verified data. The median analyst target sits above the current price. But even after the rally, the stock’s elevated beta and links to UK rates and credit still put it in the higher-risk group for investors wanting stability. NatWest may look attractive to some, but it’s not risk-free right now.
