Barclays (NYSE:BCS) Reaches New 12-Month High on Better-Than-Expected Earnings

Barclays PLC (NYSE:BCS)’s share price reached a new 52-week high during trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $19.99 and last traded at $19.89, with a volume of 3553324 shares changing hands. The stock had previously closed at $19.41.

The financial services provider reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.04. Barclays had a net margin of 21.27% and a return on equity of 8.04%. The business had revenue of $10.32 billion for the quarter, compared to the consensus estimate of $8.37 billion.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BCS. Wall Street Zen downgraded shares of Barclays from a “buy” rating to a “hold” rating in a research report on Sunday, July 13th. Citigroup cut shares of Barclays from a “buy” rating to a “neutral” rating in a research note on Friday, July 18th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Barclays in a research note on Wednesday, July 16th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Barclays currently has a consensus rating of “Moderate Buy”.

Institutional Trading of Barclays

A number of hedge funds and other institutional investors have recently modified their holdings of BCS. Acadian Asset Management LLC grew its stake in Barclays by 37.6% during the first quarter. Acadian Asset Management LLC now owns 33,607,068 shares of the financial services provider’s stock valued at $516,163,000 after acquiring an additional 9,188,263 shares in the last quarter. Bank of America Corp DE grew its stake in Barclays by 485.0% during the fourth quarter. Bank of America Corp DE now owns 6,680,869 shares of the financial services provider’s stock valued at $88,789,000 after acquiring an additional 5,538,912 shares in the last quarter. Natixis Advisors LLC grew its stake in Barclays by 78.7% during the first quarter. Natixis Advisors LLC now owns 8,892,766 shares of the financial services provider’s stock valued at $136,593,000 after acquiring an additional 3,917,785 shares in the last quarter. Deutsche Bank AG purchased a new position in Barclays during the fourth quarter valued at $50,189,000. Finally, Bank of Montreal Can grew its stake in Barclays by 667.4% during the fourth quarter. Bank of Montreal Can now owns 3,603,127 shares of the financial services provider’s stock valued at $47,886,000 after acquiring an additional 3,133,632 shares in the last quarter. 3.39% of the stock is owned by hedge funds and other institutional investors.

Barclays Stock Up 3.3%

The company has a market capitalization of $70.99 billion, a PE ratio of 10.18, a PEG ratio of 0.47 and a beta of 1.10. The company’s 50 day moving average is $18.24 and its two-hundred day moving average is $16.29. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 5.75.

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.