Provenance Wealth Advisors LLC Makes New Investment in Barclays PLC $BCS

Provenance Wealth Advisors LLC purchased a new position in shares of Barclays PLC (NYSE:BCS) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 35,396 shares of the financial services provider’s stock, valued at approximately $859,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BCS. Bank of America Corp DE lifted its position in shares of Barclays by 2.3% in the first quarter. Bank of America Corp DE now owns 8,691,765 shares of the financial services provider’s stock valued at $183,918,000 after acquiring an additional 199,130 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Barclays during the first quarter worth approximately $81,762,000. Ferguson Wellman Capital Management Inc. increased its position in shares of Barclays by 1.7% during the third quarter. Ferguson Wellman Capital Management Inc. now owns 1,200,203 shares of the financial services provider’s stock worth $29,129,000 after purchasing an additional 19,795 shares in the last quarter. Quantinno Capital Management LP raised its stake in Barclays by 11.5% in the 1st quarter. Quantinno Capital Management LP now owns 798,698 shares of the financial services provider’s stock valued at $16,900,000 after purchasing an additional 82,433 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Barclays by 11.8% in the 1st quarter. Bank of New York Mellon Corp now owns 706,580 shares of the financial services provider’s stock valued at $14,951,000 after purchasing an additional 74,738 shares during the last quarter. 3.39% of the stock is owned by hedge funds and other institutional investors.

Barclays Stock Up 5.7%

Shares of NYSE:BCS opened at $23.68 on Thursday. The business has a 50-day moving average price of $24.29 and a 200 day moving average price of $24.84. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 5.89. The company has a market capitalization of $79.15 billion, a price-to-earnings ratio of 8.52, a PEG ratio of 0.48 and a beta of 1.04. Barclays PLC has a 12-month low of $19.83 and a 12-month high of $28.68.

Barclays (NYSE:BCS) last posted its earnings results on Wednesday, October 21st. The financial services provider reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). The company had revenue of $9.85 billion during the quarter, compared to analyst estimates of $10.10 billion. Barclays had a net margin of 22.74% and a return on equity of 9.02%. Sell-side analysts expect that Barclays PLC will post 2.77 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BCS. Morgan Stanley lowered shares of Barclays from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, September 2nd. Citigroup reissued a “neutral” rating on shares of Barclays in a research note on Thursday, July 16th. Weiss Ratings cut Barclays from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, October 23rd. Finally, Bank of America downgraded Barclays from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 1st. Four analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Barclays presently has an average rating of “Hold”.

Barclays Company Profile

Barclays PLC is a diversified financial services company headquartered in London, England. Through its banking and financial services businesses, the company serves individuals, businesses, institutions and governments in the United Kingdom, the United States and other international markets.

Its principal activities include consumer and business banking, current and savings accounts, mortgages, personal loans, credit cards and payment services. Barclays also provides private banking and wealth management services, including investment management, financial planning and lending for high-net-worth clients.

Through its corporate and investment banking operations, Barclays offers corporate lending, transaction banking, financial advice, securities underwriting, sales and trading, research and capital-markets services.