Barclays PLC (NYSE:BCS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “Barclays' shares on NYSE have significantly underperformed the industry over the last six months. The company has surpassed the Zacks Consensus Estimate for earnings in only one of the trailing four quarters. The bank’s third quarter 2017 results reflected lower operating costs and a rise in advisory fees, partially offset by decline in net interest income as well as muted investment banking performance. It’s restructuring and business simplifying efforts ended successfully and continue to result in decrease in expenses. A strong balance sheet position is another positive for the company. However, the company has been facing pressure on revenues owing to weak capital market performance, low interest rates and uncertainty related to Brexit. Also, litigation matters remain a near-term concern.”

Several other research analysts have also issued reports on the company. Keefe, Bruyette & Woods raised Barclays PLC from an “underperform” rating to a “market perform” rating in a research report on Tuesday. Berenberg Bank raised Barclays PLC from a “sell” rating to a “hold” rating in a research report on Friday, October 20th. BNP Paribas lowered Barclays PLC from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 5th. ValuEngine raised Barclays PLC from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating on shares of Barclays PLC in a research report on Wednesday, September 6th. Six investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. Barclays PLC presently has a consensus rating of “Hold” and an average target price of $10.24.

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Several institutional investors and hedge funds have recently modified their holdings of the company. Fisher Asset Management LLC boosted its stake in shares of Barclays PLC by 7.6% in the third quarter. Fisher Asset Management LLC now owns 20,654,732 shares of the financial services provider’s stock worth $213,776,000 after buying an additional 1,467,037 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Barclays PLC by 10.7% in the second quarter. Dimensional Fund Advisors LP now owns 13,209,959 shares of the financial services provider’s stock worth $139,893,000 after buying an additional 1,279,988 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Barclays PLC by 9.3% in the second quarter. Northern Trust Corp now owns 6,136,590 shares of the financial services provider’s stock worth $64,986,000 after buying an additional 521,524 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Barclays PLC by 14.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 5,904,900 shares of the financial services provider’s stock worth $62,533,000 after buying an additional 724,794 shares during the last quarter. Finally, Brandes Investment Partners LP boosted its stake in shares of Barclays PLC by 0.8% in the second quarter. Brandes Investment Partners LP now owns 5,602,988 shares of the financial services provider’s stock worth $59,336,000 after buying an additional 43,360 shares during the last quarter. Hedge funds and other institutional investors own 2.50% of the company’s stock.

Barclays PLC Company Profile

Analyst Recommendations for Barclays PLC (NYSE:BCS)

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