Barclays (LON:BARC) Sets New 52-Week High on Analyst Upgrade

Barclays PLC (LON:BARC)’s share price 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. The stock had previously closed at GBX 191.14 ($2.36).

Other analysts have also recently issued research reports about the stock. Jefferies Financial Group reissued a “buy” rating and set a GBX 220 ($2.72) target price on shares of Barclays in a research note on Tuesday, February 20th. Royal Bank of Canada upped their price objective on shares of Barclays from GBX 230 ($2.84) to GBX 265 ($3.27) and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Peel Hunt assumed coverage on shares of Barclays in a research note on Friday, April 19th. They issued a “buy” rating and a GBX 245 ($3.03) price target for the company. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Barclays in a research note on Tuesday, March 12th. Finally, Shore Capital reiterated a “buy” rating on shares of Barclays in a report on Thursday, February 29th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of GBX 242 ($2.99).

Barclays Stock Performance

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

Barclays Increases Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Thursday, February 29th were given a dividend of GBX 5.30 ($0.07) per share. This is an increase from Barclays’s previous dividend of $2.70. This represents a yield of 3.56%. The ex-dividend date of this dividend was Thursday, February 29th. Barclays’s dividend payout ratio (DPR) is presently 2,962.96%.

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.