Bank of America Corp DE Grows Stock Holdings in Barclays PLC $BCS

Key Points

• Bank of America increased its Barclays stake by 2.3% in the first quarter, adding 199,130 shares to hold 8.69 million shares worth approximately $183.9 million. Hedge funds and institutional investors collectively own 3.39% of Barclays.
• Analyst sentiment is generally positive, with five Buy ratings and four Hold ratings producing a consensus “Moderate Buy” rating. Piper Sandler upgraded Barclays to Buy, while Berenberg initiated coverage with a Buy rating.
• Barclays reported quarterly EPS of $0.90, slightly beating estimates, and revenue of $10.95 billion, above expectations. The company also declared a $0.3134-per-share dividend payable September 15 to shareholders of record August 7.

Bank of America Corp DE grew its holdings in Barclays PLC (NYSE:BCS - Free Report) by 2.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,691,765 shares of the financial services provider's stock after buying an additional 199,130 shares during the period. Bank of America Corp DE owned approximately 0.25% of Barclays worth $183,918,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new stake in Barclays during the 4th quarter valued at $26,000. Commonwealth Retirement Investments LLC purchased a new position in Barclays during the fourth quarter worth $26,000. SHP Wealth Management purchased a new position in Barclays during the fourth quarter worth $28,000. Advocate Investing Services LLC bought a new position in Barclays during the fourth quarter valued at $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Barclays in the fourth quarter valued at $39,000. 3.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Barclays in a research note on Wednesday, April 29th. Piper Sandler raised shares of Barclays from an "overweight" rating to a "buy" rating in a research report on Friday, June 12th. Berenberg Bank started coverage on shares of Barclays in a research note on Wednesday, June 24th. They issued a "buy" rating for the company. Morgan Stanley reaffirmed an "overweight" rating on shares of Barclays in a research note on Thursday, July 2nd. Finally, BNP Paribas Exane downgraded Barclays from an "outperform" rating to a "neutral" rating in a report on Tuesday, April 14th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

Barclays Stock Performance

Shares of NYSE:BCS opened at $28.00 on Wednesday. The firm's 50 day simple moving average is $26.60 and its 200-day simple moving average is $24.77. The company has a debt-to-equity ratio of 5.76, a quick ratio of 1.46 and a current ratio of 1.46. Barclays PLC has a one year low of $19.15 and a one year high of $28.67. The firm has a market cap of $95.46 billion, a PE ratio of 10.45, a price-to-earnings-growth ratio of 0.49 and a beta of 1.00.

Barclays (NYSE:BCS - Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.01. The firm had revenue of $10.95 billion during the quarter, compared to analyst estimates of $10.78 billion. Barclays had a return on equity of 8.80% and a net margin of 22.27%. As a group, equities analysts predict that Barclays PLC will post 2.83 EPS for the current year.

Barclays Dividend Announcement

The company also recently declared a dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 7th will be given a dividend of $0.3134 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a dividend yield of 233.0%. Barclays's dividend payout ratio is presently 21.64%.

Barclays Company Profile

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