Barclays (LON:BARC) Reaches New 12-Month High – Here’s What Happened

Barclays PLC (LON:BARC) shares reached a new 52-week high on Thursday . The company traded as high as GBX 524.10 and last traded at GBX 523, with a volume of 311283125 shares traded. The stock had previously closed at GBX 515.

Key Barclays News

Here are the key news stories impacting Barclays this week:

• Positive Sentiment: Swift announced a framework with Barclays, HSBC, Lloyds and NatWest to improve international retail transfers, a potentially constructive development for Barclays’ U.K. payments franchise. Swift Helps UK Banks Speed Consumer X-Border Payments
• Positive Sentiment: Barclays also received fresh attention in the market after other companies’ coverage and analyst commentary continued to show Barclays as an active, influential lender with ongoing brokerage support.
• Neutral Sentiment: Recent company announcements about share capital and voting rights were procedural updates, with little direct fundamental impact on earnings or valuation. Barclays Confirms Total Voting Rights and Share Capital Base
• Neutral Sentiment: Barclays also added a small number of new shares to its London listing, which is likely routine capital-management activity rather than a major stock-moving event. Barclays Adds 1.7 Million New Shares to London Listing

Wall Street Analyst Weigh In

Several analysts have weighed in on BARC shares. Berenberg Bank reissued a “buy” rating and issued a GBX 620 target price on shares of Barclays in a report on Wednesday, June 24th. Shore Capital Group reaffirmed a “buy” rating on shares of Barclays in a report on Tuesday, April 28th. JPMorgan Chase & Co. raised their price objective on shares of Barclays from GBX 590 to GBX 600 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Jefferies Financial Group increased their target price on Barclays from GBX 570 to GBX 590 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada raised Barclays to an “outperform” rating and increased their price objective for the company from GBX 550 to GBX 575 in a research note on Wednesday, April 29th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of GBX 545.

Barclays Stock Up 1.4%

The company has a 50 day moving average of GBX 457.65 and a 200 day moving average of GBX 452.71. The stock has a market capitalization of £70.70 billion, a price-to-earnings ratio of 12.03, a price-to-earnings-growth ratio of 1.15 and a beta of 0.90.

Barclays (LON:BARC) last issued its quarterly earnings results on Tuesday, April 28th. The financial services provider reported GBX 14.10 earnings per share (EPS) for the quarter. The firm had revenue of GBX 816.30 billion for the quarter. Barclays had a return on equity of 9.46% and a net margin of 17.81%. On average, research analysts forecast that Barclays PLC will post 39.1062802 earnings per share for the current fiscal year.

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.