Barclays’ (BARC) “Buy” Rating Reiterated at Berenberg Bank

Berenberg Bank reaffirmed their buy rating on shares of Barclays (LON:BARC) in a research report released on Thursday morning,Digital Look reports. They currently have a GBX 620 price objective on the financial services provider’s stock.

A number of other equities research analysts also recently commented on the stock. Jefferies Financial Group increased their price objective on shares of Barclays from GBX 590 to GBX 600 and gave the company a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of Barclays from GBX 600 to GBX 610 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 570 target price on shares of Barclays in a report on Wednesday, July 29th. Royal Bank Of Canada restated an “outperform” rating and issued a GBX 550 price target on shares of Barclays in a research note on Wednesday, August 12th. Finally, Citigroup lifted their price target on Barclays from GBX 505 to GBX 510 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of GBX 576.67.

Barclays Stock Performance

BARC stock opened at GBX 494.71 on Thursday. The company’s 50 day moving average price is GBX 510.26 and its 200 day moving average price is GBX 463.71. The firm has a market capitalization of £66.72 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 1.15 and a beta of 0.88. Barclays has a fifty-two week low of GBX 353.55 and a fifty-two week high of GBX 538.30.

Barclays (LON:BARC) last issued its quarterly earnings results on Tuesday, July 28th. The financial services provider reported GBX 30.70 earnings per share (EPS) for the quarter. Barclays had a net margin of 25.61% and a return on equity of 10.11%. Equities analysts forecast that Barclays will post 39.1062802 EPS for the current fiscal year.

Insider Buying and Selling at Barclays

In related news, insider Mary Mack bought 2,160 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were purchased at an average cost of GBX 497 per share, with a total value of £10,735.20. Also, insider Julia Wilson purchased 2,033 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The shares were bought at an average price of GBX 497 per share, for a total transaction of £10,104.01. In the last ninety days, insiders have bought 27,498 shares of company stock worth $13,666,506. 0.35% of the stock is owned by insiders.

Key Headlines Impacting Barclays

Here are the key news stories impacting Barclays this week:

• Positive Sentiment: Positive analyst coverage: Berenberg reaffirmed its “Buy” rating and set a GBX 620 price target, implying meaningful upside from recent trading levels. A separate report also highlighted Jefferies’ expectation for strong appreciation in Barclays shares. Jefferies Financial Group Forecasts Strong Price Appreciation for Barclays Stock
• Positive Sentiment: Singapore private-bank expansion: Barclays plans to more than double its private-bank headcount in Singapore by 2030. The move signals an effort to capture growth among wealthy clients in Asia and could support longer-term fee income, although it will require additional investment before benefits materialize. Barclays to More Than Double Singapore Private Bank Headcount
• Neutral Sentiment: Risk-management caution: Barclays strategist Emmanuel Cau sees a case for reducing risk as September develops. The comments may influence broader market sentiment toward financial stocks, but they do not represent a change in Barclays’ operating outlook. Barclays’ Cau Sees Case for Reducing Risk as September Unfolds
• Negative Sentiment: Reputational and legal overhang: Barclays faces a complaint related to financing for a power plant near Bangladesh’s Sundarbans mangrove forest. While the direct financial exposure is unclear, the issue could add compliance, litigation and reputational risks. Barclays Faces Complaint Over Power Plant Financing

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. In addition, the company engages in securities dealing activities. The company was formerly known as Barclays Bank Limited and changed its name to Barclays PLC in January 1985.