Barclays (NYSE:BCS) Reaches New 12-Month High – Should You Buy?

Barclays PLC (NYSE:BCS) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $13.12 and last traded at $13.09, with a volume of 579537 shares. The stock had previously closed at $12.47.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. The Goldman Sachs Group initiated coverage on shares of Barclays in a research note on Tuesday, October 8th. They issued a “buy” rating on the stock. Kepler Capital Markets initiated coverage on shares of Barclays in a research note on Thursday, September 5th. They issued a “buy” rating for the company. Finally, StockNews.com raised Barclays from a “hold” rating to a “buy” rating in a research note on Tuesday, July 9th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Barclays Stock Performance

The stock’s 50-day moving average price is $12.11 and its 200 day moving average price is $11.28. The firm has a market cap of $46.61 billion, a P/E ratio of 9.39, a price-to-earnings-growth ratio of 0.68 and a beta of 1.42. The company has a debt-to-equity ratio of 5.98, a current ratio of 1.39 and a quick ratio of 1.39.

Barclays (NYSE:BCS) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.56 EPS for the quarter. The firm had revenue of $8.52 billion for the quarter. Barclays had a net margin of 16.83% and a return on equity of 5.94%. During the same period last year, the firm earned $0.42 earnings per share. As a group, equities analysts predict that Barclays PLC will post 1.63 EPS for the current year.

Barclays Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 16th were issued a $0.2684 dividend. This represents a dividend yield of 3.6%. The ex-dividend date of this dividend was Friday, August 16th. This is an increase from Barclays’s previous semi-annual dividend of $0.27. Barclays’s dividend payout ratio is presently 21.64%.

Hedge Funds Weigh In On Barclays

A number of institutional investors have recently added to or reduced their stakes in BCS. Acadian Asset Management LLC increased its stake in shares of Barclays by 1,362.1% during the 2nd quarter. Acadian Asset Management LLC now owns 19,682,115 shares of the financial services provider’s stock worth $210,762,000 after purchasing an additional 18,335,937 shares during the last quarter. Raymond James & Associates increased its position in Barclays by 11.9% during the third quarter. Raymond James & Associates now owns 4,007,379 shares of the financial services provider’s stock worth $48,690,000 after buying an additional 426,815 shares during the last quarter. Renaissance Technologies LLC raised its stake in Barclays by 190.9% in the second quarter. Renaissance Technologies LLC now owns 3,661,086 shares of the financial services provider’s stock valued at $39,210,000 after buying an additional 2,402,500 shares during the period. Sei Investments Co. lifted its position in shares of Barclays by 118.7% in the second quarter. Sei Investments Co. now owns 2,709,312 shares of the financial services provider’s stock valued at $29,017,000 after buying an additional 1,470,523 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Barclays by 4.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,358,375 shares of the financial services provider’s stock worth $25,258,000 after acquiring an additional 105,857 shares during the period. 3.39% of the stock is currently owned by institutional investors and hedge funds.

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.