Barclays PLC (NYSE:BCS) Plans $0.31 Dividend

Barclays PLC (NYSE:BCS) announced a dividend on Tuesday, July 28th. Shareholders of record on Friday, August 7th will be paid a dividend of 0.3134 per share by the financial services provider on Tuesday, September 15th. This represents a dividend yield of 233.0%. The ex-dividend date is Friday, August 7th.

Barclays has a dividend payout ratio of 21.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Barclays to earn $3.48 per share next year, which means the company should continue to be able to cover its $0.57 annual dividend with an expected future payout ratio of 16.4%.

Barclays Trading Down 2.6%

NYSE BCS traded down $0.71 on Wednesday, reaching $26.27. The company had a trading volume of 1,153,730 shares, compared to its average volume of 6,663,605. The stock has a market cap of $89.54 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 0.48 and a beta of 1.00. The stock’s 50 day moving average is $26.26 and its 200-day moving average is $24.71. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 5.94. Barclays has a 52 week low of $18.79 and a 52 week high of $28.67.

Barclays (NYSE:BCS) last announced its quarterly earnings results on Monday, July 27th. The financial services provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. Barclays had a net margin of 21.10% and a return on equity of 8.12%. The company had revenue of $10.95 billion for the quarter, compared to analysts’ expectations of $10.78 billion. Equities analysts predict that Barclays will post 2.86 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BCS. Weiss Ratings restated a “buy (b-)” rating on shares of Barclays in a report on Friday, July 17th. Piper Sandler raised Barclays from an “overweight” rating to a “buy” rating in a report on Friday, June 12th. Berenberg Bank initiated coverage on shares of Barclays in a research note on Wednesday, June 24th. They issued a “buy” rating for the company. BNP Paribas Exane cut shares of Barclays from an “outperform” rating to a “neutral” rating in a research report on Tuesday, April 14th. Finally, Citigroup restated a “neutral” rating on shares of Barclays in a report on Thursday, July 16th. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Barclays Company Profile

Barclays PLC (NYSE: BCS) is a British multinational bank and financial services company headquartered in London. The firm provides a broad range of banking and financial products to individual, corporate and institutional customers. Its core activities span retail and business banking, credit cards and payments, corporate and investment banking, and wealth and investment management.

In retail and business banking, Barclays offers deposit accounts, mortgages, personal and business loans, and card services.