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

Barclays (LON:BARC)‘s stock had its “buy” rating reiterated by equities researchers at Berenberg Bank in a research note issued on Thursday, Digital Look reports. They presently have a GBX 620 price target on the financial services provider’s stock. Berenberg Bank’s target price indicates a potential upside of 27.44% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Citigroup lifted their target price on Barclays from GBX 505 to GBX 510 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 550 price target on shares of Barclays in a research report on Wednesday, August 12th. Jefferies Financial Group raised their price target on shares of Barclays from GBX 590 to GBX 600 and gave the stock a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of Barclays from GBX 600 to GBX 610 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 570 price objective on shares of Barclays in a research report on Wednesday, July 29th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of GBX 576.67.

Barclays Trading Up 0.6%

BARC opened at GBX 486.50 on Thursday. The firm’s fifty day simple moving average is GBX 511.21 and its 200 day simple moving average is GBX 463.21. The stock has a market capitalization of £65.61 billion, a P/E ratio of 10.07, a P/E/G ratio of 1.15 and a beta of 0.88. Barclays has a 12 month low of GBX 353.55 and a 12 month high of GBX 538.30.

Barclays (LON:BARC) last released 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 return on equity of 10.11% and a net margin of 25.61%. On average, equities research analysts predict that Barclays will post 39.1062802 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Nigel Higgins bought 7,604 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were acquired at an average price of GBX 497 per share, for a total transaction of £37,791.88. Also, insider Brian Gilvary purchased 3,640 shares of Barclays stock in a transaction that occurred on Tuesday, July 28th. The shares were bought at an average cost of GBX 497 per share, with a total value of £18,090.80. Insiders have purchased 27,498 shares of company stock worth $13,666,506 over the last three months. Company insiders own 0.35% of the company’s stock.

Key Stories Impacting Barclays

Here are the key news stories impacting Barclays this week:

• Positive Sentiment: Jefferies raised its Barclays price target to GBX 600 from GBX 590 and reiterated a “buy” rating. The upgrade supports investor confidence in Barclays’ earnings outlook and implies further upside from recent trading levels. Digital Look report
• Positive Sentiment: Barclays will offer some remortgage customers a decision within 24 hours. Faster processing could improve customer conversion and competitiveness in the UK mortgage market, although the financial impact is not yet quantified. Barclays remortgage offer report
• Neutral Sentiment: Barclays increased its listed share capital by 1,262,738 shares and reported 13.44 billion shares outstanding as of August 31. The change is primarily administrative, but the additional shares could create minor dilution depending on their purpose. Barclays listed share capital report
• Neutral Sentiment: Barclays’ sponsorship of the Women’s Super League continues through a multi-year insurance partnership involving WTW. The arrangement may strengthen brand visibility, but it is unlikely to materially change near-term revenue or earnings. WTW Barclays WSL partnership report
• Negative Sentiment: A legal complaint alleges Barclays helped finance the Rampal power plant near Bangladesh’s Sundarbans mangrove forest. The complaint could increase reputational, regulatory and potential litigation risks, particularly around environmental, social and governance policies. Guardian environmental complaint report
• Negative Sentiment: Barclays warned that heavy borrowing by Asian data-center operators is pushing banks toward lending limits. The comments highlight possible credit-concentration and asset-quality risks in a fast-growing sector, potentially raising concerns about Barclays’ own corporate and investment-banking exposures. Asian data-center debt report

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.