Barclays (NYSE:BCS) Hits New 52-Week High - Here's Why

Key Points

• Barclays PLC shares recently reached a new 52-week high of $20.08 during trading, closing at $20.03 with a trading volume of approximately 5.98 million shares.
• The company reported $0.62 earnings per share for the last quarter, surpassing estimates by $0.12, and had a revenue of $9.58 billion, exceeding expectations significantly.
• Barclays announced a semi-annual dividend of $0.1557, with a yield of 210.0%, despite a recent downgrade from several analysts, resulting in a consensus rating of "Moderate Buy."

Barclays PLC (NYSE:BCS) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $20.08 and last traded at $20.03, with a volume of 5981866 shares. The stock had previously closed at $19.94.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BCS shares. Wall Street Zen lowered Barclays from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Royal Bank Of Canada restated an "outperform" rating on shares of Barclays in a report on Wednesday, July 16th. Morgan Stanley restated an "overweight" rating on shares of Barclays in a report on Wednesday, July 30th. Finally, Citigroup downgraded Barclays from a "buy" rating to a "neutral" rating in a report on Friday, July 18th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy".

Barclays Trading Up 0.6%

The company has a 50-day moving average price of $18.54 and a 200-day moving average price of $16.61. The firm has a market capitalization of $70.82 billion, a price-to-earnings ratio of 9.24, a PEG ratio of 0.47 and a beta of 1.15. The company has a debt-to-equity ratio of 5.70, a quick ratio of 1.38 and a current ratio of 1.38.

Barclays (NYSE:BCS - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.12. The business had revenue of $9.58 billion during the quarter, compared to analysts' expectations of $7.06 billion. Barclays had a return on equity of 8.49% and a net margin of 22.11%. As a group, research analysts forecast that Barclays PLC will post 2 EPS for the current fiscal year.

Barclays Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 8th will be given a $0.1557 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a dividend yield of 210.0%. Barclays's dividend payout ratio is 14.29%.

Institutional Trading of Barclays

A number of large investors have recently made changes to their positions in the company. AMG National Trust Bank raised its stake in Barclays by 0.5% during the 2nd quarter. AMG National Trust Bank now owns 105,707 shares of the financial services provider's stock valued at $1,965,000 after acquiring an additional 561 shares during the last quarter. Fifth Third Bancorp raised its stake in Barclays by 1.1% during the 2nd quarter. Fifth Third Bancorp now owns 56,035 shares of the financial services provider's stock valued at $1,042,000 after acquiring an additional 599 shares during the last quarter. Bleakley Financial Group LLC raised its stake in Barclays by 3.4% during the 2nd quarter. Bleakley Financial Group LLC now owns 19,389 shares of the financial services provider's stock valued at $360,000 after acquiring an additional 634 shares during the last quarter. Ballentine Partners LLC raised its stake in Barclays by 2.2% during the 1st quarter. Ballentine Partners LLC now owns 31,547 shares of the financial services provider's stock valued at $485,000 after acquiring an additional 668 shares during the last quarter. Finally, Prospera Financial Services Inc raised its stake in Barclays by 3.4% during the 2nd quarter. Prospera Financial Services Inc now owns 21,526 shares of the financial services provider's stock valued at $400,000 after acquiring an additional 699 shares during the last quarter. 3.39% of the stock is owned by institutional investors and hedge funds.

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.

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