Barclays’ (BARC) Buy Rating Reaffirmed at Berenberg Bank

Barclays (LON:BARC)‘s stock had its “buy” rating reaffirmed by stock analysts at Berenberg Bank in a note issued to investors on Friday, London Stock Exchange reports. They currently have a GBX 620 price objective on the financial services provider’s stock. Berenberg Bank‘s price objective suggests a potential upside of 53.47% from the stock’s current price.

A number of other equities analysts also recently commented on BARC. JPMorgan Chase & Co. upped their target price on shares of Barclays from GBX 610 to GBX 620 and gave the stock an “overweight” rating in a research note on Tuesday, September 15th. Citigroup decreased their price target on shares of Barclays from GBX 510 to GBX 500 and set a “neutral” rating for the company in a research note on Wednesday, September 23rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a GBX 550 price target on shares of Barclays in a report on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 570 price objective on shares of Barclays in a research note on Wednesday, July 29th. Finally, Jefferies Financial Group raised their price objective on Barclays from GBX 590 to GBX 600 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of GBX 576.67.

Barclays Trading Down 1.3%

LON BARC opened at GBX 404 on Friday. The stock has a market cap of £53.94 billion, a PE ratio of 8.36, a PEG ratio of 1.15 and a beta of 0.91. Barclays has a 12 month low of GBX 361.35 and a 12 month high of GBX 538.30. The company’s 50-day moving average price is GBX 468.35 and its 200-day moving average price is GBX 472.51.

Barclays (LON:BARC) last announced its quarterly earnings data on Thursday, October 22nd. The financial services provider reported GBX 12.30 earnings per share for the quarter. Barclays had a net margin of 25.61% and a return on equity of 10.11%. As a group, sell-side analysts forecast that Barclays will post 39.11 earnings per share for the current year.

Insider Transactions at Barclays

In other Barclays news, insider Robert Berry bought 1,908 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were bought at an average cost of GBX 497 per share, for a total transaction of £9,482.76. Also, insider Mary Mack bought 2,160 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were acquired at an average cost of GBX 497 per share, for a total transaction of £10,735.20. Insiders purchased a total of 27,498 shares of company stock valued at $13,666,506 over the last three months. 0.34% of the stock is currently owned by corporate insiders.

Key Headlines Impacting Barclays

Here are the key news stories impacting Barclays this week:

• Positive Sentiment: Barclays reported a 12% year-over-year increase in third-quarter pretax profit to approximately £2.3 billion, broadly in line with expectations. Strong equities trading and disciplined costs helped offset weaker fixed-income revenue. Barclays Q3 profit rises 12% and announces buyback
• Positive Sentiment: The bank announced a £500 million share buyback, which could support earnings per share and signal confidence in its capital position. Barclays also published third-quarter Pillar 3 capital and liquidity metrics, providing investors with additional balance-sheet information. Barclays publishes Q3 capital and liquidity metrics
• Positive Sentiment: One analyst maintained a Buy rating following the results, while Barclays said its Middle East expansion remains on track. Barclays maintaining Buy rating following Q3 earnings
• Neutral Sentiment: Barclays plans to eliminate about 5,000 positions, or roughly 5% of its workforce, as it expands artificial-intelligence and automation initiatives. Management expects productivity and cost benefits, but investors may focus on execution risks, employee disruption and the possibility that savings will take time to materialize. Barclays plans 5,000 job cuts
• Negative Sentiment: Bank of America maintained a Hold rating and cut its price target to GBX 580, citing an earnings miss and weaker investment-banking revenue. The cautious view may limit the positive effect of the profit growth and buyback. Barclays price target cut

About Barclays

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.