Barclays (NYSE:BCS) Shares Gap Up – Still a Buy?

Shares of Barclays PLC (NYSE:BCS) gapped up prior to trading on Tuesday . The stock had previously closed at $14.27, but opened at $14.70. Barclays shares last traded at $14.87, with a volume of 1,151,306 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BCS. BNP Paribas raised Barclays from a “neutral” rating to an “outperform” rating in a research report on Tuesday, March 4th. StockNews.com downgraded shares of Barclays from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Barclays Trading Down 1.0 %

The company has a 50-day moving average price of $15.11 and a 200-day moving average price of $13.92. The company has a debt-to-equity ratio of 5.33, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market capitalization of $52.19 billion, a price-to-earnings ratio of 7.92, a PEG ratio of 0.39 and a beta of 1.11.

Barclays (NYSE:BCS) last announced its quarterly earnings results on Tuesday, February 18th. The financial services provider reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.15. Barclays had a net margin of 20.81% and a return on equity of 7.74%. As a group, research analysts forecast that Barclays PLC will post 2 EPS for the current fiscal year.

Barclays Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, February 28th were paid a $0.2737 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a yield of 2.7%. This is a boost from Barclays’s previous semi-annual dividend of $0.27. Barclays’s payout ratio is currently 29.89%.

Hedge Funds Weigh In On Barclays

Hedge funds have recently modified their holdings of the business. Bank of America Corp DE boosted its stake in Barclays by 485.0% during the 4th quarter. Bank of America Corp DE now owns 6,680,869 shares of the financial services provider’s stock worth $88,789,000 after purchasing an additional 5,538,912 shares during the period. Northern Trust Corp raised its holdings in shares of Barclays by 20.5% in the fourth quarter. Northern Trust Corp now owns 6,059,544 shares of the financial services provider’s stock valued at $80,531,000 after buying an additional 1,029,401 shares during the last quarter. Causeway Capital Management LLC boosted its stake in shares of Barclays by 8.9% during the fourth quarter. Causeway Capital Management LLC now owns 5,930,467 shares of the financial services provider’s stock worth $78,816,000 after buying an additional 484,497 shares during the period. American Century Companies Inc. grew its holdings in shares of Barclays by 9.8% during the fourth quarter. American Century Companies Inc. now owns 5,635,864 shares of the financial services provider’s stock worth $74,901,000 after buying an additional 505,351 shares during the last quarter. Finally, Natixis Advisors LLC increased its position in Barclays by 39.5% in the 4th quarter. Natixis Advisors LLC now owns 4,974,981 shares of the financial services provider’s stock valued at $66,117,000 after acquiring an additional 1,409,948 shares during the period. 3.39% of the stock is currently owned by hedge funds and other institutional investors.

Barclays Company Profile

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.