Barclays (LON:BARC) Shares Pass Above 200-Day Moving Average – Here’s Why

Barclays PLC (LON:BARC) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 211.70 ($2.83) and traded as high as GBX 222.15 ($2.97). Barclays shares last traded at GBX 219.35 ($2.93), with a volume of 28,655,733 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on BARC shares. Royal Bank of Canada reduced their price target on Barclays from GBX 260 ($3.48) to GBX 250 ($3.34) and set an “outperform” rating on the stock in a research report on Thursday, June 13th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a GBX 270 ($3.61) price target on shares of Barclays in a research note on Monday, September 9th. Citigroup reiterated a “buy” rating on shares of Barclays in a report on Monday, September 2nd. Finally, Shore Capital restated a “buy” rating on shares of Barclays in a report on Wednesday, June 19th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, Barclays presently has a consensus rating of “Buy” and a consensus target price of GBX 276 ($3.69).

Barclays Stock Down 0.4 %

The stock has a market capitalization of £31.89 billion, a price-to-earnings ratio of 843.65, a P/E/G ratio of 1.07 and a beta of 1.36. The stock has a fifty day moving average of GBX 223.45 and a 200-day moving average of GBX 211.70.

Barclays Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, September 20th. Stockholders of record on Thursday, August 15th were issued a GBX 2.90 ($0.04) dividend. This represents a dividend yield of 1.24%. The ex-dividend date of this dividend was Thursday, August 15th. Barclays’s payout ratio is 3,076.92%.

Insider Buying and Selling

In related news, insider Anna Cross sold 49,013 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of GBX 221 ($2.96), for a total value of £108,318.73 ($144,888.62). In other Barclays news, insider Dawn Fitzpatrick bought 5,259 shares of the stock in a transaction dated Friday, August 2nd. The shares were acquired at an average cost of GBX 210 ($2.81) per share, for a total transaction of £11,043.90 ($14,772.47). Also, insider Anna Cross sold 49,013 shares of Barclays stock in a transaction on Monday, September 16th. The shares were sold at an average price of GBX 221 ($2.96), for a total transaction of £108,318.73 ($144,888.62). 1.47% of the stock is owned by company insiders.

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.