Barclays (NYSE:BCS) Reaches New 1-Year High Following Earnings Beat

Barclays PLC (NYSE:BCS) shares reached a new 52-week high on Tuesday following a better than expected earnings announcement. The stock traded as high as $19.99 and last traded at $19.89, with a volume of 3553324 shares. The stock had previously closed at $19.41.

The financial services provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.50 by $0.12. Barclays had a return on equity of 8.68% and a net margin of 22.11%. The firm had revenue of $9.58 billion for the quarter, compared to analyst estimates of $7.06 billion.

Barclays Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 8th will be issued a dividend of $0.1557 per share. This represents a yield of 2.1%. The ex-dividend date of this dividend is Friday, August 8th. Barclays’s payout ratio is 27.92%.

Wall Street Analyst Weigh In

BCS has been the topic of a number of analyst reports. Royal Bank Of Canada reiterated an “outperform” rating on shares of Barclays in a report on Wednesday, July 16th. Citigroup downgraded Barclays from a “buy” rating to a “neutral” rating in a research report on Friday, July 18th. Finally, Wall Street Zen lowered shares of Barclays from a “buy” rating to a “hold” rating in a research note on Sunday, July 13th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Institutional Investors Weigh In On Barclays

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its position in shares of Barclays by 13.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 784,979 shares of the financial services provider’s stock valued at $12,089,000 after purchasing an additional 95,566 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Barclays by 1,539.6% in the first quarter. Bessemer Group Inc. now owns 4,509 shares of the financial services provider’s stock worth $69,000 after buying an additional 4,234 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in shares of Barclays by 51.0% during the fourth quarter. Neuberger Berman Group LLC now owns 579,964 shares of the financial services provider’s stock worth $7,708,000 after buying an additional 195,825 shares during the period. Janney Montgomery Scott LLC lifted its position in Barclays by 52.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 47,617 shares of the financial services provider’s stock worth $731,000 after acquiring an additional 16,293 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in Barclays by 14.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 3,063,126 shares of the financial services provider’s stock valued at $40,709,000 after purchasing an additional 391,899 shares during the last quarter. 3.39% of the stock is currently owned by hedge funds and other institutional investors.

Barclays Stock Down 0.9%

The firm has a market capitalization of $70.34 billion, a price-to-earnings ratio of 9.16, a price-to-earnings-growth ratio of 0.49 and a beta of 1.10. The company has a debt-to-equity ratio of 5.75, a current ratio of 1.39 and a quick ratio of 1.39. The business has a fifty day moving average price of $18.29 and a two-hundred day moving average price of $16.31.

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.