Barclays (NYSE:BCS) Shares Gap Down – Here’s Why

Barclays PLC (NYSE:BCS)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $13.18, but opened at $12.90. Barclays shares last traded at $12.84, with a volume of 1,430,191 shares trading hands.

Analyst Upgrades and Downgrades

BCS has been the subject of a number of analyst reports. StockNews.com raised Barclays from a “hold” rating to a “buy” rating in a report on Tuesday, July 9th. The Goldman Sachs Group started coverage on shares of Barclays in a research note on Tuesday, October 8th. They set a “buy” rating on the stock. Finally, Kepler Capital Markets began coverage on shares of Barclays in a research report on Thursday, September 5th. They issued a “buy” rating for the company.

Barclays Price Performance

The company has a 50 day moving average of $12.12 and a 200 day moving average of $11.30. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 5.98. The stock has a market capitalization of $46.65 billion, a price-to-earnings ratio of 9.40, a price-to-earnings-growth ratio of 0.68 and a beta of 1.42.

Barclays (NYSE:BCS) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.56 earnings per share for the quarter. The firm had revenue of $8.52 billion for the quarter. Barclays had a return on equity of 5.94% and a net margin of 16.83%. During the same quarter in the previous year, the business posted $0.42 EPS. As a group, equities research analysts forecast that Barclays PLC will post 1.63 EPS for the current fiscal year.

Barclays Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 16th were given a dividend of $0.2684 per share. This represents a yield of 3.6%. This is a boost from Barclays’s previous semi-annual dividend of $0.27. The ex-dividend date of this dividend was Friday, August 16th. Barclays’s dividend payout ratio is 21.64%.

Institutional Investors Weigh In On Barclays

A number of large investors have recently modified their holdings of BCS. Wealth Enhancement Advisory Services LLC increased its stake in Barclays by 5.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 163,549 shares of the financial services provider’s stock worth $1,546,000 after buying an additional 8,459 shares during the period. Cornerstone Wealth Group LLC acquired a new stake in shares of Barclays during the first quarter worth approximately $100,000. Allspring Global Investments Holdings LLC bought a new position in Barclays during the 1st quarter valued at $89,000. Legacy Wealth Asset Management LLC grew its holdings in Barclays by 2.0% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 61,623 shares of the financial services provider’s stock worth $582,000 after acquiring an additional 1,237 shares in the last quarter. Finally, SpiderRock Advisors LLC acquired a new stake in shares of Barclays in the 1st quarter valued at about $92,000. Institutional investors and hedge funds own 3.39% of the company’s stock.

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.