NatWest exits Fed dealer list as Barclays upgrades NatWest stock

Published on 10/22/2026 at 09:58 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Barclays set NatWest's target at GBp 850 from GBp 740 on October 13, 2026. NatWest stock costs EUR 7.65 on October 22, 2026, versus its EUR 7.72 Xetra close.

Capital and earnings markers

Barclays upgraded NatWest from Equal Weight to Overweight and set an October 13, 2026 target of GBp 850.
Second-quarter 2026 pre-tax profit reached GBP 2.29 billion against GBP 2.04 billion expected.
NatWest stock trades at EUR 7.65 at 9:47 a.m. CEST at Lang & Schwarz on October 22, 2026, 0.93 percent below the Xetra close of October 21, 2026.

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 stock (ISIN GB00BM8PJY71) was trading at EUR 7.65 at Lang & Schwarz on October 22, 2026, at 9:47 a.m. CEST, down 0.93 percent versus the Xetra close of October 21, 2026 at EUR 7.72. The latest corporate development is NatWest Markets Securities' withdrawal from the New York Federal Reserve's primary-dealer list, effective October 16, 2026, as reported by Markets Insider.

Barclays raises its rating

On October 13, 2026, Barclays upgraded NatWest from Equal Weight to Overweight and raised its price target from GBp 740.00 to GBp 850.00, according to Markets Insider. The target is 11.76 percent above the new target's old level, calculated from the two pence-denominated values. Barclays cited higher-rate earnings potential, continued growth and the Evelyn Partners business, while deposit and funding costs were a partial offset.

Three milestones frame the story

NatWest's recent chronology starts with its May 1, 2026 first-quarter report, when adjusted earnings per share reached GBp 18.00 versus GBp 15.00 a year earlier, according to Simply Wall St. On July 31, 2026, second-quarter pre-tax profit rose 29.00 percent to GBP 2.29 billion from GBP 2.04 billion expected, while total income rose 13.00 percent to GBP 4.50 billion from GBP 4.40 billion expected, according to Investing.com. On October 16, 2026, the bank's markets securities unit withdrew from one New York Federal Reserve primary-dealer list, according to Markets Insider.

What does the next report mean?

The next quantified test is NatWest's third-quarter report on October 30, 2026. The investor-relations calendar lists the date, while the bank's second-quarter return on tangible equity was 21.00 percent and its full-year 2026 income guidance was raised to GBP 17.90 billion, according to Investing.com. That combination leaves margin performance, income delivery and capital returns as the main figures for the next update.

Stock remains below the yearly high

NatWest's London listing had a 52-week range of GBp 504.41 to GBp 788.20 on October 22, 2026, with a market capitalization of GBP 50.7 billion. The euro quote sits below the 52-week high in the same underlying share-price context, while the daily euro move remains below the 1.00 percent threshold for a directional headline.

NatWest stock was trading at EUR 7.65 at Lang & Schwarz on October 22, 2026, at 9:47 a.m. CEST, 0.93 percent below the Xetra close of October 21, 2026 at EUR 7.72. The further course of trading is shown by the continuously updated real-time quote of NatWest stock.