Barclays (NYSE:BCS) Lowered to Neutral Rating by Bank of America

Key Points

• Bank of America downgraded Barclays from “buy” to “neutral,” although the stock retains a “Moderate Buy” consensus rating from analysts.
• Barclays reported quarterly earnings of $0.90 per share, slightly exceeding the $0.89 consensus estimate, while revenue of $10.95 billion also topped expectations.
• Shares opened at $26.65, with a market capitalization of approximately $89.93 billion and a one-year trading range of $19.28 to $28.68.

Barclays (NYSE:BCS) was downgraded by stock analysts at Bank of America from a "buy" rating to a "neutral" rating in a research report issued to clients and investors on Tuesday, Marketbeat reports.

BCS has been the topic of a number of other research reports. Weiss Ratings upgraded shares of Barclays from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, August 3rd. Piper Sandler raised shares of Barclays from an "overweight" rating to a "buy" rating in a research report on Friday, June 12th. Berenberg Bank began coverage on shares of Barclays in a research note on Wednesday, June 24th. They set a "buy" rating on the stock. Morgan Stanley reaffirmed an "overweight" rating on shares of Barclays in a research note on Thursday, July 2nd. Finally, Citigroup reiterated a "neutral" rating on shares of Barclays in a report on Thursday, July 16th. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

Barclays Stock Performance

Shares of BCS opened at $26.65 on Tuesday. The company has a 50-day simple moving average of $27.48 and a two-hundred day simple moving average of $24.91. The company has a debt-to-equity ratio of 5.76, a current ratio of 1.46 and a quick ratio of 1.46. The firm has a market capitalization of $89.93 billion, a PE ratio of 9.94, a price-to-earnings-growth ratio of 0.47 and a beta of 1.00. Barclays has a one year low of $19.28 and a one year high of $28.68.

Barclays (NYSE:BCS - Get Free Report) last posted its earnings results on Monday, July 27th. The financial services provider reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $0.01. Barclays had a return on equity of 8.80% and a net margin of 22.27%.The firm had revenue of $10.95 billion for the quarter, compared to the consensus estimate of $10.78 billion. On average, analysts anticipate that Barclays will post 2.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Barclays

Several institutional investors and hedge funds have recently made changes to their positions in the company. Commonwealth Retirement Investments LLC bought a new position in shares of Barclays during the fourth quarter valued at $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Barclays during the 4th quarter valued at about $26,000. SHP Wealth Management bought a new stake in shares of Barclays in the fourth quarter worth approximately $28,000. Advocate Investing Services LLC purchased a new position in shares of Barclays during the fourth quarter valued at approximately $33,000. Finally, First Pacific Financial lifted its position in Barclays by 3,036.4% during the first quarter. First Pacific Financial now owns 1,725 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 1,670 shares during the period. Institutional investors own 3.39% of the company's stock.

About Barclays

Barclays PLC NYSE: BCS is a British multinational bank and financial services company headquartered in London. The firm provides a broad range of banking and financial products to individual, corporate and institutional customers. Its core activities span retail and business banking, credit cards and payments, corporate and investment banking, and wealth and investment management.

In retail and business banking, Barclays offers deposit accounts, mortgages, personal and business loans, and card services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source