Royal Bank Of Canada Cuts Barclays (LON:BARC) Price Target to GBX 550

Barclays (LON:BARC) had its target price reduced by Royal Bank Of Canada from GBX 575 to GBX 550 in a research report released on Wednesday morning,Digital Look reports. Royal Bank Of Canada currently has an outperform rating on the financial services provider’s stock.

Other research analysts also recently issued research reports about the stock. Citigroup increased their price objective on shares of Barclays from GBX 425 to GBX 450 and gave the company a “neutral” rating in a report on Thursday, April 23rd. Berenberg Bank reiterated a “buy” rating and issued a GBX 620 target price on shares of Barclays in a research report on Wednesday. Jefferies Financial Group increased their price target on Barclays from GBX 570 to GBX 590 and gave the company a “buy” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. raised their price target on Barclays from GBX 590 to GBX 600 and gave the company an “overweight” rating in a report on Friday, June 12th. Finally, Shore Capital Group restated a “buy” rating on shares of Barclays in a report on Tuesday, April 28th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of GBX 575.

Barclays Stock Performance

BARC stock opened at GBX 511.71 on Wednesday. The company’s fifty day moving average price is GBX 495.16 and its 200-day moving average price is GBX 459.59. Barclays has a one year low of GBX 352.65 and a one year high of GBX 538.30. The company has a market capitalization of £69.01 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 1.15 and a beta of 0.88.

Barclays (LON:BARC) last posted its earnings results on Tuesday, July 28th. The financial services provider reported GBX 30.70 earnings per share for the quarter. Barclays had a net margin of 25.61% and a return on equity of 10.11%. On average, research analysts predict that Barclays will post 39.1062802 EPS for the current fiscal year.

Insider Transactions at Barclays

In related news, insider Brian Gilvary acquired 3,640 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were acquired at an average cost of GBX 497 per share, for a total transaction of £18,090.80. Also, insider Mary Mack acquired 2,160 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were bought at an average price of GBX 497 per share, for a total transaction of £10,735.20. Insiders have purchased 27,498 shares of company stock worth $13,666,506 in the last quarter. Company insiders own 0.27% of the company’s stock.

Barclays News Roundup

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.