Barclays (LON:BARC) Receives Buy Rating from Berenberg Bank

Barclays (LON:BARC)‘s stock had its “buy” rating reiterated by Berenberg Bank in a report issued on Thursday, Digital Look reports. They currently have a GBX 620 price objective on the financial services provider’s stock. Berenberg Bank’s price objective points to a potential upside of 27.44% from the company’s previous close.

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

Barclays Stock Performance

BARC opened at GBX 486.50 on Thursday. The company has a fifty day moving average price of GBX 511.21 and a two-hundred day moving average price of GBX 463.21. The firm has a market capitalization of £65.61 billion, a PE ratio of 10.07, a P/E/G ratio of 1.15 and a beta of 0.88. Barclays has a 52 week low of GBX 353.55 and a 52 week high of GBX 538.30.

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

Insiders Place Their Bets

In other Barclays news, insider Mary Mack acquired 2,160 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, with a total value of £10,735.20. Also, insider Robert Berry bought 1,908 shares of Barclays stock in a transaction on Tuesday, July 28th. The shares were acquired at an average price of GBX 497 per share, for a total transaction of £9,482.76. Insiders have purchased 27,498 shares of company stock worth $13,666,506 over the last 90 days. 0.35% of the stock is currently owned by corporate insiders.

Key Barclays News

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

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.