Barclays PLC (BCS) Upgraded to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of Barclays PLC (NYSE:BCS) from an equal weight rating to an overweight rating in a research report report published on Friday morning. Morgan Stanley currently has $11.50 price target on the financial services provider’s stock, up from their prior price target of $11.36.

Several other equities research analysts also recently commented on the stock. JPMorgan Chase & Co. restated a neutral rating on shares of Barclays PLC in a research note on Tuesday, March 14th. Zacks Investment Research downgraded shares of Barclays PLC from a buy rating to a sell rating in a research note on Wednesday, February 8th. Berenberg Bank restated a sell rating on shares of Barclays PLC in a research note on Monday, January 30th. Macquarie downgraded shares of Barclays PLC from an outperform rating to a neutral rating in a research note on Thursday, January 12th. Finally, Citigroup Inc restated a sell rating on shares of Barclays PLC in a research note on Wednesday, January 11th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. Barclays PLC currently has a consensus rating of Hold and an average price target of $31.47.

Shares of Barclays PLC (NYSE:BCS) traded down 0.660% on Friday, hitting $11.295. 688,943 shares of the company’s stock traded hands. Barclays PLC has a 1-year low of $6.76 and a 1-year high of $12.05. The company has a market cap of $47.88 billion, a price-to-earnings ratio of 22.590 and a beta of 1.18. The firm’s 50-day moving average price is $11.36 and its 200 day moving average price is $10.34.

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The company also recently disclosed a dividend, which will be paid on Wednesday, April 5th. Shareholders of record on Friday, March 3rd will be issued a dividend of $0.097 per share. This is a boost from Barclays PLC’s previous dividend of $0.05. The ex-dividend date is Wednesday, March 1st. Barclays PLC’s payout ratio is currently -29.41%.

A number of hedge funds have recently made changes to their positions in BCS. OLD Mission Capital LLC purchased a new stake in shares of Barclays PLC during the third quarter valued at $6,902,000. Renaissance Technologies LLC boosted its stake in shares of Barclays PLC by 44.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,728,503 shares of the financial services provider’s stock valued at $19,014,000 after buying an additional 534,100 shares in the last quarter. Brandes Investment Partners LP boosted its stake in shares of Barclays PLC by 4.3% in the third quarter. Brandes Investment Partners LP now owns 6,726,538 shares of the financial services provider’s stock valued at $58,454,000 after buying an additional 274,668 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Barclays PLC by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,378,975 shares of the financial services provider’s stock valued at $125,169,000 after buying an additional 196,314 shares in the last quarter. Finally, Ngam Advisors L.P. boosted its stake in shares of Barclays PLC by 45.6% in the third quarter. Ngam Advisors L.P. now owns 569,005 shares of the financial services provider’s stock valued at $4,944,000 after buying an additional 178,315 shares in the last quarter. 2.57% of the stock is owned by hedge funds and other institutional investors.

About Barclays PLC

Barclays PLC is a global financial services holding company. The Company is engaged in retail banking, credit cards, wholesale banking, investment banking, wealth management and investment management services. The Company’s segments include Barclays UK and Barclays Corporate & International. The Barclays UK segment incorporates the UK Personal, small UK Corporate and UK Wealth businesses, and the Barclaycard UK consumer credit cards business.

5 Day Chart for NYSE:BCS

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