Hohimer Wealth Management LLC Buys New Position in Barclays PLC $BCS

Key Points

• Hohimer Wealth Management opened a $10.4 million position in Barclays in the third quarter, buying 427,910 shares. The stock now represents about 0.8% of the firm’s portfolio.
• Barclays’ latest quarterly results fell slightly short of expectations: earnings were $0.66 per share versus a $0.67 consensus, and revenue was $9.85 billion versus $10.10 billion expected.
• Analyst sentiment is mixed, with four Buy and six Hold ratings; MarketBeat’s average rating is Hold. Barclays shares opened at $22.38, below their 50-day and 200-day moving averages.

Hohimer Wealth Management LLC bought a new stake in shares of Barclays PLC (NYSE:BCS - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 427,910 shares of the financial services provider's stock, valued at approximately $10,385,000. Barclays comprises about 0.8% of Hohimer Wealth Management LLC's holdings, making the stock its 17th biggest position.

A number of other hedge funds have also recently modified their holdings of the business. Bank of America Corp DE lifted its stake in shares of Barclays by 2.3% during the 1st quarter. Bank of America Corp DE now owns 8,691,765 shares of the financial services provider's stock worth $183,918,000 after acquiring an additional 199,130 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Barclays during the 1st quarter valued at $81,762,000. Ferguson Wellman Capital Management Inc. grew its position in Barclays by 1.1% in the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 1,180,408 shares of the financial services provider's stock valued at $31,706,000 after acquiring an additional 12,899 shares during the last quarter. Quantinno Capital Management LP grew its position in Barclays by 11.5% in the 1st quarter. Quantinno Capital Management LP now owns 798,698 shares of the financial services provider's stock valued at $16,900,000 after acquiring an additional 82,433 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Barclays by 11.8% in the first quarter. Bank of New York Mellon Corp now owns 706,580 shares of the financial services provider's stock worth $14,951,000 after purchasing an additional 74,738 shares during the period. Institutional investors own 3.39% of the company's stock.

Barclays Trading Up 0.2%

BCS opened at $22.38 on Monday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 5.89. The stock's fifty day moving average is $24.12 and its two-hundred day moving average is $24.81. The company has a market capitalization of $74.80 billion, a P/E ratio of 8.05, a PEG ratio of 0.49 and a beta of 1.04. Barclays PLC has a 52 week low of $19.83 and a 52 week high of $28.68.

Barclays (NYSE:BCS - Get Free Report) last issued its earnings results on Wednesday, October 21st. The financial services provider reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). The firm had revenue of $9.85 billion during the quarter, compared to analysts' expectations of $10.10 billion. Barclays had a return on equity of 9.02% and a net margin of 22.74%. Analysts forecast that Barclays PLC will post 2.78 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Citigroup reiterated a "neutral" rating on shares of Barclays in a research report on Thursday, July 16th. Weiss Ratings cut shares of Barclays from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, October 23rd. Morgan Stanley downgraded shares of Barclays from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, September 2nd. Finally, Bank of America lowered shares of Barclays from a "buy" rating to a "neutral" rating in a report on Tuesday, September 1st. Four investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Barclays currently has an average rating of "Hold".

About Barclays

Barclays is a British banking group that provides financial services to individuals, businesses, corporations and institutions. Its principal activities include retail and business banking, credit cards and payments, corporate banking, investment banking and wealth management.

The company serves customers in the United Kingdom and internationally, with a significant presence in the United States. Its businesses include Barclays UK, which focuses on UK consumer and business banking, and Barclays International, which includes its international banking and markets operations.

Barclays traces its origins to goldsmith banking in London in 1690.

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