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

Barclays PLC (LON:BARC) shares 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. The stock had previously closed at GBX 191.14 ($2.36).

Several other brokerages have also commented on BARC. Peel Hunt assumed coverage on Barclays in a research report on Friday, April 19th. They issued a “buy” rating and a GBX 245 ($3.03) target price for the company. Citigroup reiterated a “buy” rating on shares of Barclays in a research report on Wednesday, January 31st. Shore Capital reiterated a “buy” rating on shares of Barclays in a research report on Thursday, February 29th. Royal Bank of Canada lifted their target price on Barclays from GBX 230 ($2.84) to GBX 265 ($3.27) and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Barclays in a research report on Tuesday, March 12th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of GBX 242 ($2.99).

Barclays Stock Performance

The firm has a market cap of £30.84 billion, a P/E ratio of 756.85, a P/E/G ratio of -1.09 and a beta of 1.38. The firm has a fifty day moving average of GBX 178.83 and a 200-day moving average of GBX 156.43.

Barclays Increases Dividend

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

About Barclays

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.