Citigroup Cuts Barclays (LON:BARC) Price Target to GBX 500

Barclays (LON:BARC) had its price target reduced by Citigroup from GBX 510 to GBX 500 in a research note released on Wednesday,Digital Look reports. Citigroup currently has a neutral rating on the financial services provider’s stock.

A number of other equities research analysts also recently weighed in on BARC. Jefferies Financial Group upped their price target on shares of Barclays from GBX 590 to GBX 600 and gave the company a “buy” rating in a report on Wednesday, September 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 570 price objective on shares of Barclays in a research note on Wednesday, July 29th. Royal Bank Of Canada reiterated an “outperform” rating and issued a GBX 550 target price on shares of Barclays in a report on Wednesday, August 12th. Berenberg Bank reissued a “buy” rating and set a GBX 620 target price on shares of Barclays in a research note on Thursday, September 3rd. Finally, JPMorgan Chase & Co. raised their target price on shares of Barclays from GBX 610 to GBX 620 and gave the stock an “overweight” rating in a report on Tuesday, September 15th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 576.67.

Barclays Stock Up 1.2%

Shares of Barclays stock opened at GBX 462.05 on Wednesday. The firm has a market cap of £62.01 billion, a price-to-earnings ratio of 9.57, a price-to-earnings-growth ratio of 1.15 and a beta of 0.87. The business has a fifty day simple moving average of GBX 498.91 and a 200-day simple moving average of GBX 466.16. Barclays has a fifty-two week low of GBX 353.55 and a fifty-two week high of GBX 538.30.

Barclays (LON:BARC) last announced its 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%. Analysts anticipate that Barclays will post 39.1062802 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Julia Wilson acquired 2,033 shares of Barclays stock in a transaction on Tuesday, July 28th. The stock was bought at an average cost of GBX 497 per share, with a total value of £10,104.01. Also, insider Mary Mack bought 2,160 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was purchased at an average cost of GBX 497 per share, for a total transaction of £10,735.20. In the last quarter, insiders have acquired 27,498 shares of company stock worth $13,666,506. 0.34% of the stock is owned by company insiders.

Barclays News Roundup

Here are the key news stories impacting Barclays this week:

• Positive Sentiment: Barclays participated in the UK’s first interbank transactions using tokenized deposits, including remortgage payments and a simulated online purchase. The initiative highlights Barclays’ involvement in potentially faster, more secure and automated payment infrastructure, although the near-term earnings impact is likely limited. The UK’s First Tokenized Deposit Transfers
• Positive Sentiment: Market commentary is focusing on whether UK loan growth and increased technology spending can lift Barclays’ earnings, offering a potentially favorable operating backdrop for the bank. Can UK loan growth and tech spending lift Barclays’ earnings?
• Neutral Sentiment: Barclays appointed Mary Mack to its board nominations committees, a governance change that may strengthen oversight but is unlikely to materially affect near-term valuation. Barclays Strengthens Board Nominations Committees
• Neutral Sentiment: Senior Barclays executives increased their holdings through dividend reinvestment. The transactions signal continued participation in the company’s shareholder-return program, but were not open-market purchases and therefore provide limited incremental information about management’s outlook. Barclays Executives Boost Holdings Through Dividend Reinvestment
• Negative Sentiment: Citigroup issued a pessimistic forecast for Barclays’ share price, creating a valuation overhang and countering the more constructive earnings narrative. Citigroup Issues Pessimistic Forecast for Barclays
• Negative Sentiment: Barclays strategists warned that rising bond yields could threaten stock-market stability. Higher yields can increase volatility, pressure asset valuations and raise concerns about credit conditions, presenting a broader risk to the bank’s investment-banking and trading businesses. Barclays Warns Rising Bond Yields Threaten Stock Market Stability

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.