NatWest stock enters October with a board change and GBp 769.38 target

Published on 09/30/2026 at 14:14 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

NatWest stock carries a GBp 769.38 average target from eight brokerages as of September 30, 2026. A committee chair change takes effect October 1, ahead of Q3 results on October 30.

Fotorealistisches Bürogebäude einer Großbank in Edinburgh bei Sonnenuntergang — NatWest Group plc Hauptsitz als modernes Glasgebäude in Edinburgh bei goldenem Abendlicht, ISIN GB00BM8PJ831, Illustration mit AI erstellt.

NatWest Group (ISIN GB00BM8PJ831) carries an average 12-month target of GBp 769.38 from eight brokerages, according to MarketBeat on September 30, 2026. The London-listed bank is also preparing for a board committee change effective October 1.

Analyst target remains above recent range

The consensus target is supported by four buy ratings and four hold ratings, giving NatWest a Moderate Buy consensus. Berenberg raised its target from GBp 860.00 to GBp 880.00 on August 3, while Citigroup lifted its target from GBp 840.00 to GBp 860.00 on September 23, according to MarketBeat.

JPMorgan raised its target from GBp 790.00 to GBp 830.00 on September 15, while Jefferies maintained a buy rating with a GBp 770.00 target on September 2. The spread shows that the consensus is not driven by a single bank, although individual views remain wide.

Income guidance rises to GBP 17.9 billion

At the Barclays Global Financial Services Conference on September 15, NatWest said 2026 total income guidance had increased to GBP 17.9 billion. The figure was presented alongside return on tangible equity approaching 20 percent and a fourth consecutive year above 17 percent, according to Investing.com.

Customer assets and liabilities grew 5.3 percent in H1 2026, exceeding NatWest's medium-term target of more than 4 percent. Management also said the cost-income ratio had fallen to just above 45 percent from the mid-60s in 2021, with a goal below 45 percent by 2028.

Board change precedes Q3 results

Investegate reported on September 29, 2026, that Roisin Donnelly will succeed Lena Wilson as chair of the Group Performance and Remuneration Committee on October 1. The company said Donnelly brings board and remuneration experience to the role.

NatWest's investor calendar lists Q3 2026 results for October 30, 2026, according to the NatWest Group investor page. That date is the next scheduled checkpoint for the income guidance, margin trend and capital returns narrative.

Market value and yearly range

NatWest Group had a market capitalization of GBP 55.0 billion on September 30, 2026. Its London Stock Exchange 52-week range was GBp 504.41 to GBp 726.00, placing the latest reported opening level of GBp 692.60 within the upper part of that span.