Professional
Added to YB: 2024-08-09
Pitch date: 2024-07-31
NWG [bullish]
NatWest Group plc
+89.96%
current return
Author Info
No bio for this author
Company Info
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.
Market Cap
GBP 34.9B
Pitch Price
GBP 8.69
Price Target
N/A
Dividend
5.23%
EV/EBITDA
N/A
P/E
7.89
EV/Sales
N/A
Sector
Banks
Category
value
L1 Long Short Fund Portfolio Holding: NatWest Group plc
NWG +18% on Q4 beats (earnings 28% above est). #2 UK retail bank (13% mortgage share), #1 commercial lender (20% share). Leads sector w/ improving ops, superior mortgage margins, rising hedge income. Expects NIM expansion despite BoE cuts. Undervalued at 7x FY25 P/E, 1x P/TBV despite 14% ROTE, 8% earnings CAGR. Strong upside potential.
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