Citigroup Cuts Barclays (LON:BARC) Price Target to GBX 500

Key Points

• Citigroup lowered Barclays’ price target to GBX 500 from GBX 510 while maintaining a neutral rating, implying approximately 6.69% upside from the prior close.
• Analyst sentiment remains broadly positive: six analysts rate Barclays a Buy and one rates it Hold, producing a “Moderate Buy” consensus and average target of GBX 576.67.
• Barclays reported quarterly earnings of GBX 30.70 per share, with a 10.11% return on equity and 25.61% net margin; insiders also purchased 27,498 shares during the latest quarter.

Barclays (LON:BARC - Get Free Report) had its price target reduced by investment analysts at Citigroup from GBX 510 to GBX 500 in a note issued to investors on Wednesday, Digital Look reports. The brokerage presently has a "neutral" rating on the financial services provider's stock. Citigroup's target price points to a potential upside of 6.69% from the company's previous close.

Several other research firms have also commented on BARC. Jefferies Financial Group raised their target price on Barclays from GBX 590 to GBX 600 and gave the stock a "buy" rating in a report on Wednesday, September 2nd. Royal Bank Of Canada restated an "outperform" rating and issued a GBX 550 price objective on shares of Barclays in a research report on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a GBX 570 price objective on shares of Barclays in a research note on Wednesday, July 29th. Berenberg Bank reaffirmed a "buy" rating and set a GBX 620 target price on shares of Barclays in a report on Thursday, September 3rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Barclays from GBX 610 to GBX 620 and gave the company an "overweight" rating in a research note on Tuesday, September 15th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 576.67.

Barclays Stock Performance

LON:BARC opened at GBX 468.65 on Wednesday. Barclays has a one year low of GBX 353.55 and a one year high of GBX 538.30. The firm has a market cap of £62.90 billion, a price-to-earnings ratio of 9.70, a PEG ratio of 1.15 and a beta of 0.87. The firm's fifty day moving average is GBX 502.46 and its two-hundred day moving average is GBX 465.71.

Barclays (LON:BARC - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The financial services provider reported GBX 30.70 earnings per share for the quarter. Barclays had a return on equity of 10.11% and a net margin of 25.61%. As a group, equities research analysts predict that Barclays will post 39.1062802 earnings per share for the current fiscal year.

Insider Buying and Selling at Barclays

In other Barclays news, insider Dawn Fitzpatrick bought 2,307 shares of Barclays stock in a transaction dated Tuesday, July 28th. The stock was acquired at an average cost of GBX 497 per share, with a total value of £11,465.79. Also, insider Brian Shea bought 2,393 shares of the firm's stock in a transaction dated Tuesday, July 28th. The shares were acquired at an average price of GBX 497 per share, for a total transaction of £11,893.21. Over the last quarter, insiders acquired 27,498 shares of company stock worth $13,666,506. 0.34% of the stock is currently owned by corporate insiders.

More Barclays News

Here are the key news stories impacting Barclays this week:

• Positive Sentiment: Share buyback continues: Barclays reported further purchases under its previously announced buyback program, reducing the company’s share count and voting base. Continued repurchases can support earnings per share and signal management confidence in the valuation. Barclays Advances Share Buy-Back, Cuts Share Count and Voting Base
• Positive Sentiment: Investment-banking mandate: Barclays acted as sole structuring bank and initial coordinating lead arranger for Form Energy’s $270 million credit facility. The deal supports manufacturing expansion for Form Energy and reinforces Barclays’ role in financing growth companies, potentially benefiting fees and client relationships. Form Energy Secures $270 Million Credit Facility
• Positive Sentiment: UK and Asia expansion: Barclays is adding three bankers to its Black Country and Staffordshire team, opening new branches in three UK towns, and appointing Morgan Stanley veteran Wee Yee-Yeong to lead its private bank in Singapore and Asia. The moves could strengthen local deposits, lending, wealth-management revenue, and customer coverage. Barclays Adds Three Bankers Barclays Appoints Private-Bank Leader
• Neutral Sentiment: Branch expansion: New branches and longer opening hours may improve customer access and support long-term market share, although the strategy also entails additional operating costs. Barclays to Open New UK Bank Branches
• Negative Sentiment: Return-to-office dispute: Unionized employees are seeking compensation for commuting and childcare costs as Barclays increases office attendance to three days weekly. Potential allowances, employee-relations issues, or productivity disruption could raise expenses. Barclays Staff Demand Return-to-Office Compensation

Barclays Company Profile

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.

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