Barclays (NYSE:BCS) Sets New 1-Year High After Earnings Beat

Key Points

• Barclays PLC shares reached a new 52-week high of $19.99 following a better-than-expected earnings report, with earnings per share of $0.62, surpassing the consensus estimate of $0.50.
• Several research firms have adjusted their ratings on Barclays stock, resulting in a current average rating of "Moderate Buy" from analysts.
• Institutional investors are becoming increasingly involved in Barclays, with five firms making new stakes in the company during the first quarter, raising their combined ownership to 3.39% of the stock.

Barclays PLC (NYSE:BCS) shares reached a new 52-week high during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as high as $19.99 and last traded at $19.89, with a volume of 3553324 shares traded. The stock had previously closed at $19.41.

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 for the quarter, compared to analysts' expectations of $7.06 billion. Barclays had a return on equity of 8.68% and a net margin of 22.11%.

Barclays Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, September 16th. Shareholders 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 yield of 2.1%. Barclays's payout ratio is 27.92%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Citigroup cut Barclays from a "buy" rating to a "neutral" rating in a research report on Friday, July 18th. Wall Street Zen cut Barclays from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Barclays in a research report on Wednesday, July 16th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy".

Institutional Trading of Barclays

Several institutional investors and hedge funds have recently added to or reduced their stakes in BCS. Acadian Asset Management LLC raised its holdings in shares of Barclays by 37.6% during the 1st quarter. Acadian Asset Management LLC now owns 33,607,068 shares of the financial services provider's stock worth $516,163,000 after acquiring an additional 9,188,263 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Barclays by 485.0% in the 4th quarter. Bank of America Corp DE now owns 6,680,869 shares of the financial services provider's stock worth $88,789,000 after buying an additional 5,538,912 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of Barclays by 78.7% in the 1st quarter. Natixis Advisors LLC now owns 8,892,766 shares of the financial services provider's stock worth $136,593,000 after buying an additional 3,917,785 shares in the last quarter. Deutsche Bank AG bought a new position in shares of Barclays during the 4th quarter valued at approximately $50,189,000. Finally, Bank of Montreal Can increased its position in shares of Barclays by 667.4% during the 4th quarter. Bank of Montreal Can now owns 3,603,127 shares of the financial services provider's stock valued at $47,886,000 after purchasing an additional 3,133,632 shares during the last quarter. Institutional investors own 3.39% of the company's stock.

Barclays Trading Down 0.9%

The stock has a market cap of $70.34 billion, a P/E ratio of 9.16, a P/E/G ratio of 0.49 and a beta of 1.10. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 5.75. The company has a 50-day moving average price of $18.29 and a two-hundred day moving average price of $16.31.

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.