Barclays (LON:BARC) Price Target Raised to GBX 610

Barclays (LON:BARC) had its price objective increased by JPMorgan Chase & Co. from GBX 600 to GBX 610 in a report issued on Wednesday,Digital Look reports. The firm currently has an overweight rating on the financial services provider’s stock.

A number of other research firms have also issued reports on BARC. Shore Capital Group reissued a “buy” rating on shares of Barclays in a research report on Tuesday, April 28th. Citigroup increased their price objective on shares of Barclays from GBX 425 to GBX 450 and gave the stock a “neutral” rating in a research note on Thursday, April 23rd. Jefferies Financial Group upped their price target on shares of Barclays from GBX 570 to GBX 590 and gave the company a “buy” rating in a report on Wednesday, May 6th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 620 price target on shares of Barclays in a research report on Wednesday. Finally, Royal Bank Of Canada reduced their price objective on Barclays from GBX 575 to GBX 550 and set an “outperform” rating for the company in a research note on Wednesday. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Barclays presently has a consensus rating of “Moderate Buy” and an average target price of GBX 575.

Barclays Trading Up 0.2%

LON BARC opened at GBX 511.71 on Wednesday. Barclays has a 12-month low of GBX 352.65 and a 12-month high of GBX 538.30. The company has a fifty day simple moving average of GBX 495.16 and a two-hundred day simple moving average of GBX 459.59. The stock has a market cap of £69.01 billion, a P/E ratio of 11.79, a P/E/G ratio of 1.15 and a beta of 0.88.

Barclays (LON:BARC) last released its 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%. As a group, sell-side analysts forecast that Barclays will post 39.1062802 earnings per share for the current year.

Insider Buying and Selling at Barclays

In other news, insider Mary Mack bought 2,160 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was purchased at an average cost of GBX 497 per share, with a total value of £10,735.20. Also, insider Robert Berry bought 1,908 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was purchased at an average price of GBX 497 per share, with a total value of £9,482.76. Over the last ninety days, insiders have acquired 27,498 shares of company stock worth $13,666,506. 0.27% of the stock is currently owned by insiders.

Trending Headlines about Barclays

Here are the key news stories impacting Barclays this week:

• Positive Sentiment: Share buyback supports returns: Barclays launched a programme to repurchase up to £1 billion of stock. The buyback should reduce excess capital, potentially lift earnings per share and reinforce shareholder returns. Barclays Launches £1bn Share Buy-back
• Positive Sentiment: Broad insider buying: Barclays directors and senior figures, including Chairman Nigel Higgins, bought shares at approximately GBX 497. The purchases offer a modest confidence signal following the bank’s recent results, although the transactions are relatively small compared with the company’s market value. Barclays Insider Purchases
• Positive Sentiment: Analyst support remains favorable: Deutsche Bank and Jefferies reaffirmed “buy” ratings, while JPMorgan raised its target to GBX 610 and Berenberg maintained a GBX 620 objective. The reported consensus target of GBX 545 also remains above recent trading levels, implying additional potential upside. Barclays Consensus Price Target
• Positive Sentiment: Potentially favorable bank regulation: Former Barclays CEO Bob Diamond said the Clarity Act could be beneficial for banks over time, adding to optimism about the sector’s longer-term regulatory environment. Bob Diamond on the Clarity Act
• Neutral Sentiment: Mixed broker revisions: JPMorgan raised its target and Citigroup moved its target to GBX 510 while retaining a “neutral” rating. RBC reduced its target from GBX 575 to GBX 550 but kept an “outperform” recommendation. RBC Barclays Target Revision
• Negative Sentiment: Political and valuation risks: Calls for higher taxes on UK banks after Barclays’ profits increased could constrain future earnings and capital returns. Separate commentary also questioned whether the bank’s recent results fully justify its valuation, potentially limiting further gains. UK Bank Tax Pressure

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.