London, January 11, 2026, 08:43 GMT — Market closed
- NatWest announced it bought back 841,756 shares on Jan. 9 as part of its ongoing buyback programme
- The stock closed Friday at 642.6p, slipping 0.25%.
- Investors are eyeing the annual results set for Feb. 13
NatWest Group Plc (NWG.L) repurchased 841,756 shares on Jan. 9 as part of its ongoing share buyback program, paying between 635.6 pence and 647.0 pence per share. The bank intends to cancel these shares once settled, leaving 8,000,523,245 shares outstanding, excluding treasury stock, according to a U.S. filing. (SEC)
NatWest shares ended Friday at 642.6p, slipping 0.25% after fluctuating between 635.6p and 647.2p during the session, according to Investing.com data. The stock has traded within a 52-week range of 372.2p to 674.2p. (Investing)
The buyback is standard procedure. What makes it notable now is that NatWest is trading near recent highs, prompting investors to question if the current pace of capital returns will continue into the next earnings report.
Share buybacks boost earnings per share by cutting the number of shares on the market. In banks, they serve as a real-time indicator of capital strength, particularly amid shifting credit conditions and interest rates.
Risk appetite gained ground as the week wrapped up, pushing London’s FTSE 100 to a record close on Friday. Glencore’s shares surged amid merger discussions, while a U.S. jobs report kept hopes alive for rate cuts. (Reuters)
NatWest’s attention now shifts from a single day’s repurchase to the bigger picture of its annual results: the trajectory of lending, any cracks showing in consumer and business credit, and the leeway left to reduce its share count further.
NatWest will release its annual results at 0700 GMT on Friday, Feb. 13, with a management presentation set for 0900 GMT and a fixed-income session at 1330 GMT, per the bank’s investor calendar. (NatWest Group Investors)
NatWest’s ADRs in New York dropped roughly 1.3% to $17.26, based on the latest pricing data.
But the risks are clear. If rate cuts come quicker than anticipated, bank margins could take a hit. On top of that, a deeper UK recession would drive up loan-loss provisions and might slow down share buyback programs.
Traders are watching the early-January peak around 674p closely—that’s the high end of the stock’s 52-week range. If the price slips away from there, focus usually shifts back down toward the mid-630s and the lows seen earlier this week.
