Barclays PLC (NYSE: BCS) has been given a consensus recommendation of “Moderate Buy” by six analysts currently covering the stock, according to a report by MarketBeat. Among these analysts, two have rated the stock as a hold, while four have issued buy recommendations.
Several recent analyst reports have highlighted Barclays’ stock performance. On October 23, 2023, Citigroup maintained a “neutral” rating on shares of Barclays. Conversely, Wall Street Zen downgraded its rating from “buy” to “hold” on October 3, 2023. On October 6, 2023, Morgan Stanley reiterated an “overweight” rating, while Weiss Ratings reaffirmed a “buy (b)” rating on October 8, 2023. Finally, Royal Bank of Canada also reaffirmed an “outperform” rating on October 23, 2023.
Recent Financial Performance
Barclays announced its earnings results on October 22, 2023, reporting earnings of $0.56 per share for the quarter, exceeding analysts’ expectations of $0.54 by $0.02. The firm achieved a return on equity of 8.19% and a net margin of 21.26%, demonstrating a solid financial position. Revenue for the quarter reached $9.59 billion, significantly surpassing analysts’ projections of $6.95 billion. Analysts expect that Barclays will post two earnings per share for the current fiscal year.
Institutional Investment Changes
Changes in institutional investor positions have also been noteworthy. Fisher Asset Management LLC increased its stake in Barclays by 3.6% during the third quarter, now owning 86,027,312 shares valued at approximately $1.78 billion after acquiring an additional 2,964,420 shares. Acadian Asset Management LLC raised its holdings by 37.6% in the first quarter, now owning 33,607,068 shares valued at $516.16 million after acquiring 9,188,263 shares in the last quarter.
Natixis Advisors LLC raised its position in Barclays by 5.9% in the third quarter, now holding 9,886,650 shares worth approximately $204.36 million. Raymond James Financial Inc. also grew its holdings by 11.4% in the first quarter, now owning 4,976,635 shares valued at $76.44 million after purchasing an additional 509,110 shares. American Century Companies Inc. increased its position by 39.2% during the third quarter, owning 4,841,068 shares valued at about $100.07 million after acquiring an additional 1,362,247 shares.
Institutional investors currently own approximately 3.39% of Barclays’ stock, indicating a sustained interest in the financial services provider.
Barclays PLC operates in various regions, providing a wide range of financial services including retail banking, credit cards, wholesale banking, investment banking, wealth management, and investment management. The company serves clients across the United Kingdom, Europe, the Americas, Africa, the Middle East, and Asia.
As Barclays continues to navigate the financial landscape, these ratings and earnings figures reflect its ongoing efforts to strengthen its position in the market. Investors and analysts will be closely monitoring the firm’s performance in the upcoming quarters.
