Barclays (NYSE:BCS) Cut to “Neutral” at Bank of America

Barclays (NYSE:BCS) was downgraded by equities researchers at Bank of America from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, MarketBeat.com reports.

Several other analysts have also issued reports on the stock. Morgan Stanley restated an “overweight” rating on shares of Barclays in a research report on Thursday, July 2nd. Piper Sandler upgraded shares of Barclays from an “overweight” rating to a “buy” rating in a research note on Friday, June 12th. Berenberg Bank assumed coverage on shares of Barclays in a research report on Wednesday, June 24th. They set a “buy” rating for the company. Citigroup restated a “neutral” rating on shares of Barclays in a research note on Thursday, July 16th. Finally, Weiss Ratings upgraded Barclays from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 3rd. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Barclays Trading Down 0.8%

Shares of NYSE:BCS opened at $26.65 on Tuesday. The stock has a market capitalization of $89.93 billion, a price-to-earnings ratio of 9.94, a PEG ratio of 0.47 and a beta of 1.00. The company has a debt-to-equity ratio of 5.76, a quick ratio of 1.46 and a current ratio of 1.46. The stock’s 50-day simple moving average is $27.48 and its two-hundred day simple moving average is $24.91. Barclays has a 52-week low of $19.28 and a 52-week high of $28.68.

Barclays (NYSE:BCS) last released its quarterly earnings results on Monday, July 27th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. Barclays had a return on equity of 8.80% and a net margin of 22.27%.The business had revenue of $10.95 billion during the quarter, compared to the consensus estimate of $10.78 billion. Analysts expect that Barclays will post 2.83 EPS for the current year.

Institutional Investors Weigh In On Barclays

A number of institutional investors and hedge funds have recently bought and sold shares of BCS. Norges Bank purchased a new stake in shares of Barclays during the fourth quarter worth about $141,248,000. Ameriprise Financial Inc. lifted its position in shares of Barclays by 793.5% in the third quarter. Ameriprise Financial Inc. now owns 4,777,017 shares of the financial services provider’s stock worth $99,073,000 after buying an additional 4,242,360 shares in the last quarter. Renaissance Technologies LLC bought a new position in Barclays during the first quarter valued at approximately $81,762,000. Fisher Asset Management LLC boosted its stake in Barclays by 4.3% during the fourth quarter. Fisher Asset Management LLC now owns 89,750,069 shares of the financial services provider’s stock valued at $2,284,139,000 after buying an additional 3,722,757 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in Barclays by 7,013.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,671,369 shares of the financial services provider’s stock valued at $31,071,000 after buying an additional 1,647,872 shares in the last quarter. 3.39% of the stock is owned by institutional investors.

Barclays Company Profile

Barclays PLC (NYSE: BCS) is a British multinational bank and financial services company headquartered in London. The firm provides a broad range of banking and financial products to individual, corporate and institutional customers. Its core activities span retail and business banking, credit cards and payments, corporate and investment banking, and wealth and investment management.

In retail and business banking, Barclays offers deposit accounts, mortgages, personal and business loans, and card services.