Barclays (NYSE:BCS) Sets New 12-Month High – Here’s Why

Barclays PLC (NYSE:BCS) hit a new 52-week high during trading on Wednesday . The company traded as high as $13.85 and last traded at $13.84, with a volume of 1563931 shares changing hands. The stock had previously closed at $13.03.

Analysts Set New Price Targets

BCS has been the subject of several analyst reports. StockNews.com raised Barclays from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. The Goldman Sachs Group assumed coverage on Barclays in a research report on Tuesday, October 8th. They issued a “buy” rating for the company.

Barclays Price Performance

The company has a 50-day moving average of $13.28 and a 200 day moving average of $12.40. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 5.67. The stock has a market capitalization of $49.97 billion, a PE ratio of 9.42 and a beta of 1.41.

Barclays (NYSE:BCS) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.56 EPS for the quarter. Barclays had a net margin of 17.83% and a return on equity of 6.30%. The business had revenue of $8.52 billion during the quarter. During the same quarter last year, the company earned $0.42 earnings per share. Sell-side analysts predict that Barclays PLC will post 1.85 EPS for the current year.

Institutional Investors Weigh In On Barclays

A number of large investors have recently made changes to their positions in BCS. American Century Companies Inc. boosted its stake in Barclays by 6.5% during the second quarter. American Century Companies Inc. now owns 1,710,276 shares of the financial services provider’s stock worth $18,317,000 after buying an additional 104,617 shares during the last quarter. Thoroughbred Financial Services LLC acquired a new position in shares of Barclays during the 2nd quarter valued at about $149,000. Oppenheimer Asset Management Inc. increased its position in Barclays by 20.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 362,627 shares of the financial services provider’s stock worth $3,884,000 after purchasing an additional 62,392 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Barclays by 4.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,358,375 shares of the financial services provider’s stock valued at $25,258,000 after purchasing an additional 105,857 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Barclays by 190.9% in the 2nd quarter. Renaissance Technologies LLC now owns 3,661,086 shares of the financial services provider’s stock valued at $39,210,000 after buying an additional 2,402,500 shares during the period. 3.39% of the stock is currently owned by hedge funds and other institutional investors.

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.