Sheets Smith Wealth Management Acquires Shares of 39,563 Barclays PLC $BCS

Key Points

• Sheets Smith Wealth Management has acquired 39,563 shares of Barclays PLC, valued at approximately $735,000, during the second quarter.
• Barclays reported earnings of $0.62 per share for the most recent quarter, exceeding analysts' expectations of $0.50, while revenue reached $9.58 billion.
• Despite a recent dividend cut, Barclays maintains a relatively low payout ratio of 14.75%, with a dividend yield of 210.0% reported recently.

Sheets Smith Wealth Management bought a new position in Barclays PLC (NYSE:BCS) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 39,563 shares of the financial services provider's stock, valued at approximately $735,000.

A number of other hedge funds also recently made changes to their positions in BCS. Opal Wealth Advisors LLC bought a new position in Barclays during the second quarter valued at approximately $53,000. GAMMA Investing LLC boosted its position in shares of Barclays by 7.6% during the 2nd quarter. GAMMA Investing LLC now owns 17,272 shares of the financial services provider's stock valued at $321,000 after acquiring an additional 1,223 shares during the last quarter. Park Avenue Securities LLC purchased a new position in shares of Barclays in the second quarter valued at $1,708,000. UMB Bank n.a. increased its position in Barclays by 70.0% in the second quarter. UMB Bank n.a. now owns 3,148 shares of the financial services provider's stock worth $59,000 after purchasing an additional 1,296 shares during the last quarter. Finally, Contravisory Investment Management Inc. raised its stake in Barclays by 2,893.5% during the second quarter. Contravisory Investment Management Inc. now owns 453,638 shares of the financial services provider's stock valued at $8,433,000 after purchasing an additional 438,484 shares in the last quarter. 3.39% of the stock is currently owned by hedge funds and other institutional investors.

Barclays Stock Performance

Shares of NYSE:BCS opened at $20.72 on Thursday. The firm's 50 day simple moving average is $20.04 and its 200-day simple moving average is $17.76. 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 PLC has a one year low of $11.48 and a one year high of $21.22. The firm has a market cap of $72.79 billion, a PE ratio of 9.55, a price-to-earnings-growth ratio of 0.43 and a beta of 1.14.

Barclays (NYSE:BCS - Get Free Report) last announced 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 company had revenue of $9.58 billion for the quarter, compared to analysts' expectations of $7.06 billion. Barclays had a return on equity of 8.49% and a net margin of 22.11%. As a group, equities analysts predict that Barclays PLC will post 2 EPS for the current year.

Barclays Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, September 16th. Investors of record on Friday, August 8th were issued a $0.1557 dividend. This represents a dividend yield of 210.0%. The ex-dividend date was Friday, August 8th. Barclays's payout ratio is presently 14.75%.

Wall Street Analyst Weigh In

A number of brokerages have commented on BCS. Wall Street Zen raised shares of Barclays from a "hold" rating to a "buy" rating in a research note on Saturday, September 20th. Morgan Stanley reiterated an "overweight" rating on shares of Barclays in a research report on Tuesday, September 2nd. Royal Bank Of Canada restated an "outperform" rating on shares of Barclays in a research report on Wednesday, July 16th. Finally, Citigroup cut Barclays from a "buy" rating to a "neutral" rating in a report on Friday, July 18th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Barclays presently has an average rating of "Moderate Buy".

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.

Want to see what other hedge funds are holding BCS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Barclays PLC (NYSE:BCS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.