Diamond Hill International Strategy Q4 2025 Portfolio Review

Diamond Hill International Strategy returned 3.87% (net of fees) and the MSCI ACWI ex USA Index returned 5.05%. Sumitomo Densetsu, a Japanese electrical contractor, benefited from a takeover bid by Daiwa House, whose tender offer at a premium price drove the stock higher. Stock selection in information technology and industrials contributed, along with our overweight to communication services.

Seeking Alpha • Feb 17, 2026

NatWest shares rise after UBS lifts earnings forecasts, but Deutsche Bank flags cautious 2026 revenue guide

NatWest Group PLC (LSE:NWG) shares rose 4% to 603.88p after UBS upgraded its earnings forecasts following better-than-expected fourth quarter and stronger capital generation. The Swiss bank said fourth-quarter pre-tax profit excluding notable items and litigation and conduct charges was 7% above consensus, with net interest income 3% ahead and operating costs in line, while impairments were 30% better than expected at 13 basis points of loans.

Proactive Investors • Feb 16, 2026

NatWest Group plc (NWG) Q4 2025 Earnings Call Transcript

NatWest Group plc (NWG) Q4 2025 Earnings Call Transcript

Seeking Alpha • Feb 14, 2026

NatWest reports 24% jump in profit and lifts target

NatWest said its annual profit rose 24% on Friday, slightly ahead of forecasts, and the lender set out more ambitious performance targets.

Reuters • Feb 13, 2026

British bank NatWest softens fossil fuel lending rules

British bank NatWest softened its fossil fuel lending policy on Friday as it released full-year results, prompting activist ShareAction to call on investors to oppose re-election of the company's chair at its forthcoming annual meeting.

Reuters • Feb 13, 2026

Natwest Group reports stronger profit, bank pledges to boost shareholder returns

NatWest Group PLC told investors that 2025 profit and income rose sharply, allowing it to hike shareholder returns again and tee up a fresh £750 million share buyback for the first half of 2026, as the UK lender raised its medium-term ambitions and set out new financial targets. The bank reported total income of £16.4 billion, up 12% year-on-year, helped by deposit margin expansion, stronger structural hedge income and lending growth.

Proactive Investors • Feb 13, 2026

NatWest Sets Out Performance Targets After Quarterly Beat

NatWest guided for further income growth and profitability this year as it reported fourth-quarter results that beat expectations.

WSJ • Feb 13, 2026

NatWest Group: A Dip Worth Buying (Upgrade)

NatWest Group delivered strong Q4 and FY25 results, with revenue and earnings easily clearing sell-side consensus. NWG's structural hedge continues to boost net interest income, with management guiding for growing hedge income through 2030. The £2.7 billion Evelyn Partners acquisition will more than double NatWest's AUMA while also diversifying its revenue away from net interest income.

Seeking Alpha • Feb 13, 2026

Natwest may have spooked investors, but this Swiss bank reckons its still a 'buy'

NatWest Group PLC's £2.7bn deal to buy Evelyn Partners may have spooked the market, but analysts at UBS think the share sell-off looks like an overreaction, and, as such they've kept a 'Buy' rating with a 780p price target, implying almost 29% upside from 605p. On Monday, the UK bank confirmed the acquisition of Evelyn Partners for £2.7bn - that's 15.1x FY25 adj EBITDA of £179m, for 130bps, UBS said - framing the purchase as a meaningful but manageable capital deployment.

Proactive Investors • Feb 11, 2026

NatWest to buy Evelyn Partners in $3.68 billion deal

The UK's NatWest Group said on Monday it had agreed to buy Evelyn Partners in a deal valuing one of Britain's largest wealth managers at 2.7 billion pounds ($3.68 billion), including debt.

Reuters • Feb 9, 2026