Barclays' (BARC) "Buy" Rating Reiterated at Berenberg Bank

Barclays (LON:BARC - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at Berenberg Bank in a research report issued on Friday, London Stock Exchange reports. They currently have a GBX 620 target price on the financial services provider's stock. Berenberg Bank's price objective suggests a potential upside of 53.16% from the stock's previous close.

BARC has been the subject of several other reports. JPMorgan Chase & Co. boosted their target price on Barclays from GBX 610 to GBX 620 and gave the stock an "overweight" rating in a research note on Tuesday, September 15th. Citigroup cut their price target on Barclays from GBX 510 to GBX 500 and set a "neutral" rating on the stock in a report on Wednesday, September 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a GBX 570 price target on shares of Barclays in a research report on Wednesday, July 29th. Jefferies Financial Group lifted their price objective on Barclays from GBX 590 to GBX 600 and gave the company a "buy" rating in a research note on Wednesday, September 2nd. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a GBX 550 price objective on shares of Barclays in a research note on Wednesday, August 12th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 576.67.

Barclays Trading Down 1.1%

LON BARC opened at GBX 404.80 on Friday. The stock has a fifty day simple moving average of GBX 468.35 and a 200-day simple moving average of GBX 472.51. The stock has a market cap of £54.05 billion, a PE ratio of 8.38, a P/E/G ratio of 1.15 and a beta of 0.91. Barclays has a twelve month low of GBX 361.35 and a twelve month high of GBX 538.30.

Barclays (LON:BARC - Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The financial services provider reported GBX 12.30 EPS for the quarter. Barclays had a return on equity of 10.11% and a net margin of 25.61%. Research analysts predict that Barclays will post 39.11 EPS for the current year.

Insider Activity

In other Barclays news, insider Robert Berry purchased 1,908 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The shares were purchased at an average cost of GBX 497 per share, for a total transaction of £9,482.76. Also, insider Mary Mack purchased 2,160 shares of the stock in a transaction dated Tuesday, July 28th. The shares were bought at an average cost of GBX 497 per share, for a total transaction of £10,735.20. Over the last quarter, insiders acquired 27,498 shares of company stock valued at $13,666,506. 0.34% of the stock is currently owned by company insiders.

Barclays News Roundup

Here are the key news stories impacting Barclays this week:

• Positive Sentiment: Barclays reported a 12% year-over-year increase in third-quarter pretax profit to approximately £2.3 billion, broadly in line with expectations. Strong equities trading and disciplined costs helped offset weaker fixed-income revenue. Barclays Q3 profit rises 12% and announces buyback
• Positive Sentiment: The bank announced a £500 million share buyback, which could support earnings per share and signal confidence in its capital position. Barclays also published third-quarter Pillar 3 capital and liquidity metrics, providing investors with additional balance-sheet information. Barclays publishes Q3 capital and liquidity metrics
• Positive Sentiment: One analyst maintained a Buy rating following the results, while Barclays said its Middle East expansion remains on track. Barclays maintaining Buy rating following Q3 earnings
• Neutral Sentiment: Barclays plans to eliminate about 5,000 positions, or roughly 5% of its workforce, as it expands artificial-intelligence and automation initiatives. Management expects productivity and cost benefits, but investors may focus on execution risks, employee disruption and the possibility that savings will take time to materialize. Barclays plans 5,000 job cuts
• Negative Sentiment: Bank of America maintained a Hold rating and cut its price target to GBX 580, citing an earnings miss and weaker investment-banking revenue. The cautious view may limit the positive effect of the profit growth and buyback. Barclays price target cut

About Barclays

Barclays PLC provides various financial services in the United Kingdom, Europe, the Americas, Africa, the Middle East, and Asia. The company operates through Barclays UK and Barclays International division segments. It offers financial services, such as retail banking, credit cards, wholesale banking, investment banking, wealth management, and investment management services. In addition, the company engages in securities dealing activities. The company was formerly known as Barclays Bank Limited and changed its name to Barclays PLC in January 1985.