Short Interest in Barclays PLC (NYSE:BCS) Drops By 38.1%

Key Points

• Short interest in Barclays PLC dropped by 38.1% in September, ending the month at 8,450,000 shares, indicating a reduced bearish sentiment towards the company.
• Barclays traded up 4.6% on Wednesday, reaching $20.39, with significant trading volume exceeding its average.
• The company recently cut its dividend, with a yield of 210.0%, while its payout ratio currently stands at 14.75%.

Barclays PLC (NYSE:BCS) was the recipient of a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 8,450,000 shares, a decline of 38.1% from the September 15th total of 13,650,000 shares. Currently, 0.2% of the company's shares are short sold. Based on an average daily trading volume, of 11,800,000 shares, the short-interest ratio is currently 0.7 days. Based on an average daily trading volume, of 11,800,000 shares, the short-interest ratio is currently 0.7 days. Currently, 0.2% of the company's shares are short sold.

Barclays Trading Up 4.6%

NYSE:BCS traded up $0.90 on Wednesday, reaching $20.39. 9,632,031 shares of the company's stock were exchanged, compared to its average volume of 6,793,639. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 5.70. The firm has a market capitalization of $71.29 billion, a price-to-earnings ratio of 9.39, a price-to-earnings-growth ratio of 0.41 and a beta of 1.10. The business has a fifty day moving average of $20.32 and a 200-day moving average of $18.43. Barclays has a 52-week low of $12.14 and a 52-week high of $21.22.

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

Barclays Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, September 16th. Stockholders of record on Friday, August 8th were given a dividend of $0.1557 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a dividend yield of 210.0%. Barclays's payout ratio is currently 14.75%.

Hedge Funds Weigh In On Barclays

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Kathmere Capital Management LLC grew its position in shares of Barclays by 4.0% during the third quarter. Kathmere Capital Management LLC now owns 42,236 shares of the financial services provider's stock worth $873,000 after buying an additional 1,637 shares in the last quarter. Signaturefd LLC grew its position in shares of Barclays by 2.7% during the third quarter. Signaturefd LLC now owns 79,593 shares of the financial services provider's stock worth $1,645,000 after buying an additional 2,125 shares in the last quarter. PDS Planning Inc grew its position in shares of Barclays by 17.6% during the third quarter. PDS Planning Inc now owns 21,025 shares of the financial services provider's stock worth $435,000 after buying an additional 3,143 shares in the last quarter. True Wealth Design LLC acquired a new position in shares of Barclays during the third quarter worth about $31,000. Finally, Salomon & Ludwin LLC boosted its holdings in Barclays by 2,673.6% in the third quarter. Salomon & Ludwin LLC now owns 1,470 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 1,417 shares in the last quarter. 3.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on BCS. Citigroup lowered shares of Barclays from a "buy" rating to a "neutral" rating in a report on Friday, July 18th. Zacks Research upgraded shares of Barclays from a "hold" rating to a "strong-buy" rating in a report on Monday, September 29th. Morgan Stanley restated an "overweight" rating on shares of Barclays in a report on Monday, October 6th. Wall Street Zen lowered shares of Barclays from a "buy" rating to a "hold" rating in a report on Friday, October 3rd. Finally, Royal Bank Of Canada reiterated an "outperform" rating on shares of Barclays in a research note on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "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.

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