Barclays (LON:BARC) Sets New 52-Week High on 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 traded. The stock had previously closed at GBX 191.14 ($2.36).

BARC has been the subject of a number of other reports. Citigroup reiterated a “buy” rating on shares of Barclays in a research note on Wednesday, January 31st. Royal Bank of Canada lifted their price target on shares of Barclays from GBX 230 ($2.84) to GBX 265 ($3.27) and gave the company an “outperform” rating in a research report on Tuesday, February 27th. Peel Hunt began coverage on shares of Barclays in a research report on Friday, April 19th. They set a “buy” rating and a GBX 245 ($3.03) target price on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 220 ($2.72) target price on shares of Barclays in a research report on Tuesday, February 20th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating on shares of Barclays in a report on Tuesday, March 12th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of GBX 242 ($2.99).

Barclays Stock Performance

The company’s 50 day moving average price is GBX 178.83 and its 200 day moving average price is GBX 156.43. The company has a market cap of £30.84 billion, a price-to-earnings ratio of 756.85, a P/E/G ratio of -1.09 and a beta of 1.38.

Barclays Increases Dividend

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