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

Barclays PLC (NYSE:BCS)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $24.87 and traded as high as $28.28. Barclays shares last traded at $28.1040, with a volume of 2,708,445 shares traded.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BCS shares. Royal Bank Of Canada reiterated an “outperform” rating on shares of Barclays in a research note on Wednesday, April 29th. Weiss Ratings upgraded shares of Barclays from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 3rd. Berenberg Bank initiated coverage on Barclays in a research note on Wednesday, June 24th. They issued a “buy” rating for the company. Citigroup reaffirmed a “neutral” rating on shares of Barclays in a report on Thursday, July 16th. Finally, Piper Sandler upgraded Barclays from an “overweight” rating to a “buy” rating in a research report on Friday, June 12th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Barclays Price Performance

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 company has a market cap of $95.80 billion, a P/E ratio of 10.49, a P/E/G ratio of 0.49 and a beta of 1.00. The firm’s fifty day moving average is $27.07 and its two-hundred day moving average is $24.87.

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

Barclays Dividend Announcement

The firm also recently declared a dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 7th will be issued a $0.3134 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a yield of 224.0%. Barclays’s payout ratio is currently 22.39%.

Hedge Funds Weigh In On Barclays

Several institutional investors have recently bought and sold shares of BCS. Caitong International Asset Management Co. Ltd bought a new position in shares of Barclays in the 4th quarter valued at about $26,000. Commonwealth Retirement Investments LLC purchased a new stake in Barclays during the fourth quarter valued at approximately $26,000. SHP Wealth Management purchased a new stake in Barclays during the fourth quarter valued at approximately $28,000. Advocate Investing Services LLC bought a new stake in shares of Barclays in the 4th quarter valued at approximately $33,000. Finally, First Pacific Financial boosted its holdings in shares of Barclays by 3,036.4% in the 1st quarter. First Pacific Financial now owns 1,725 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 1,670 shares during the period. 3.39% of the stock is owned by hedge funds and other institutional investors.

About Barclays

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.