Barclays (LON:BARC) Hits New 52-Week Low After Analyst Downgrade

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Barclays PLC (LON:BARC) reached a new 52-week low during mid-day trading on Wednesday after HSBC lowered their price target on the stock from GBX 220 to GBX 200. HSBC currently has a buy rating on the stock. Barclays traded as low as GBX 140.42 ($1.83) and last traded at GBX 140.46 ($1.84), with a volume of 2469365 shares. The stock had previously closed at GBX 141.10 ($1.84).

A number of other analysts have also recently issued reports on the company. Shore Capital reissued a “buy” rating on shares of Barclays in a research note on Thursday, August 1st. Bank of America cut Barclays to a “neutral” rating in a research note on Thursday, April 18th. Deutsche Bank reissued a “buy” rating on shares of Barclays in a research note on Friday, August 2nd. Goldman Sachs Group lowered their target price on Barclays from GBX 200 ($2.61) to GBX 190 ($2.48) and set a “neutral” rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. set a GBX 220 ($2.87) target price on Barclays and gave the stock a “buy” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of GBX 208.71 ($2.73).

In other news, insider Nigel Higgins purchased 10,092 shares of Barclays stock in a transaction dated Friday, August 2nd. The shares were bought at an average cost of GBX 153 ($2.00) per share, for a total transaction of £15,440.76 ($20,176.09).

The stock has a 50 day moving average of GBX 153.27 and a 200 day moving average of GBX 157.08. The company has a market capitalization of $23.66 billion and a price-to-earnings ratio of 7.66.

The business also recently disclosed a dividend, which will be paid on Monday, September 23rd. Investors of record on Thursday, August 8th will be paid a GBX 3 ($0.04) dividend. This represents a dividend yield of 1.95%. The ex-dividend date of this dividend is Thursday, August 8th. Barclays’s dividend payout ratio is currently 0.39%.

Barclays Company Profile (LON:BARC)

Barclays PLC, through its subsidiaries, provides various financial products and services in the United Kingdom, other European countries, the Americas, Africa, the Middle East, and Asia. The company operates through Barclays UK and Barclays International divisions. It offers financial services, including retail banking, credit cards, wholesale banking, investment banking, wealth management, and investment management services.

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