Barclays (LON:BARC) Hits New 1-Year High Following Analyst Upgrade

Barclays PLC (LON:BARC)’s share price hit a new 52-week high during trading on Thursday after Berenberg Bank raised their price target on the stock from GBX 270 to GBX 280. Berenberg Bank currently has a buy rating on the stock. Barclays traded as high as GBX 196.88 ($2.43) and last traded at GBX 196.40 ($2.43), with a volume of 870737938 shares changing hands. The stock had previously closed at GBX 191.14 ($2.36).

Other equities analysts have also recently issued research reports about the company. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 220 ($2.72) price objective on shares of Barclays in a research note on Tuesday, February 20th. Royal Bank of Canada lifted their price objective on Barclays from GBX 230 ($2.84) to GBX 265 ($3.27) and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Shore Capital reiterated a “buy” rating on shares of Barclays in a research note on Thursday, February 29th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Barclays in a research report on Tuesday, March 12th. Finally, Peel Hunt initiated coverage on Barclays in a research report on Friday, April 19th. They set a “buy” rating and a GBX 245 ($3.03) target price on the stock. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of GBX 242 ($2.99).

Barclays Stock Up 0.2 %

The company has a market cap of £30.84 billion, a price-to-earnings ratio of 756.85, a price-to-earnings-growth ratio of -1.09 and a beta of 1.38. The firm has a 50-day simple moving average of GBX 178.83 and a 200 day simple moving average of GBX 156.43.

Barclays Increases Dividend

The company also recently declared a dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Thursday, February 29th were given a dividend of GBX 5.30 ($0.07) per share. This is a positive change from Barclays’s previous dividend of $2.70. The ex-dividend date of this dividend was Thursday, February 29th. This represents a yield of 3.56%. Barclays’s payout ratio is 2,962.96%.

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.