Barclays (NYSE:BCS) Upgraded at Zacks Research

Zacks Research upgraded shares of Barclays (NYSE:BCS) from a hold rating to a strong-buy rating in a research report released on Monday morning,Zacks.com reports.

BCS has been the subject of several other research reports. Wall Street Zen raised shares of Barclays from a “hold” rating to a “buy” rating in a report on Saturday, September 20th. Royal Bank Of Canada reissued an “outperform” rating on shares of Barclays in a research note on Wednesday, July 16th. Citigroup cut shares of Barclays from a “buy” rating to a “neutral” rating in a research report on Friday, July 18th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Barclays in a report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Barclays presently has an average rating of “Buy”.

Barclays Stock Performance

Shares of BCS stock opened at $20.62 on Monday. The company has a market cap of $72.43 billion, a P/E ratio of 9.50, a PEG ratio of 0.43 and a beta of 1.10. The business has a 50 day moving average of $20.18 and a two-hundred day moving average of $17.95. Barclays has a 52 week low of $11.48 and a 52 week high of $21.22. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 5.70.

Barclays (NYSE:BCS) last announced its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.12. The business had revenue of $9.58 billion for the quarter, compared to the consensus estimate of $7.06 billion. Barclays had a return on equity of 8.49% and a net margin of 22.11%. As a group, analysts anticipate that Barclays will post 2 EPS for the current year.

Barclays Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Tuesday, September 16th. Stockholders of record on Friday, August 8th were paid a $0.1557 dividend. This represents a dividend yield of 210.0%. The ex-dividend date of this dividend was Friday, August 8th. Barclays’s dividend payout ratio is currently 14.75%.

Institutional Investors Weigh In On Barclays

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in Barclays by 14.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 352,328 shares of the financial services provider’s stock valued at $5,412,000 after purchasing an additional 43,607 shares in the last quarter. FORA Capital LLC acquired a new stake in shares of Barclays in the first quarter valued at $697,000. Invesco Ltd. boosted its stake in Barclays by 8,088.1% during the first quarter. Invesco Ltd. now owns 882,108 shares of the financial services provider’s stock valued at $13,549,000 after buying an additional 871,335 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Barclays by 13.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 784,979 shares of the financial services provider’s stock worth $12,089,000 after acquiring an additional 95,566 shares during the period. Finally, Bessemer Group Inc. raised its position in 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 acquiring an additional 4,234 shares in the last quarter. Institutional investors own 3.39% of the company’s stock.

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.