Barclays (LON:BARC) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Barclays PLC (LON:BARC) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 460.60 and traded as high as GBX 529.80. Barclays shares last traded at GBX 526.59, with a volume of 21,623,689 shares changing hands.

Key Barclays News

Here are the key news stories impacting Barclays this week:

• Positive Sentiment: Barclays is serving as a joint book-running manager for Athene Holding’s planned $1 billion senior-notes offering. The mandate could generate investment-banking fees and highlights Barclays’ continued access to corporate debt-market activity. Athene Holding Announces $1 Billion Senior Notes Offering
• Positive Sentiment: Barclays and HSBC said inflation-linked bonds are increasingly attractive as investors worry that the Federal Reserve may be slow to contain inflation. This view supports Barclays’ rates and fixed-income trading franchise, although it is more a market outlook than a new earnings catalyst. Barclays, HSBC Say Inflation-Protected Bonds Appeal
• Neutral Sentiment: Barclays disclosed share transactions by senior executives, including sales by Matt Fitzwater and other senior leaders. The filing provides transparency, but the investment impact is limited unless the sales are viewed as unusually large or discretionary. Barclays Discloses Share Sales by Senior Executives
• Negative Sentiment: Barclays is facing a legal dispute over funds connected with a failed “shadow bank.” Potential litigation costs, provisions or reputational damage could weigh on sentiment, although the available report does not quantify the bank’s possible liability. Barclays in Legal Fight Over Collapsed Shadow Bank’s Cash
• Negative Sentiment: Customer warnings about an account change ahead of an August deadline could create short-term concern over service disruption, dormant-account administration or customer dissatisfaction. The issue appears operational rather than a clearly material financial event. Barclays Warning Over Customer Account Change

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Shore Capital Group reaffirmed a “buy” rating on shares of Barclays in a report on Tuesday, April 28th. Jefferies Financial Group reissued a “buy” rating and set a GBX 590 target price on shares of Barclays in a report on Wednesday, July 29th. JPMorgan Chase & Co. raised their price target on shares of Barclays from GBX 600 to GBX 610 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 570 price target on shares of Barclays in a report on Wednesday, July 29th. Finally, Citigroup boosted their price objective on shares of Barclays from GBX 505 to GBX 510 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 575.

Barclays Trading Down 0.6%

The firm’s 50-day simple moving average is GBX 500.74 and its 200 day simple moving average is GBX 460.60. The stock has a market cap of £69.70 billion, a P/E ratio of 10.70, a PEG ratio of 1.15 and a beta of 0.88.

Barclays (LON:BARC) last released its quarterly earnings results on Tuesday, July 28th. The financial services provider reported GBX 30.70 earnings per share for the quarter. Barclays had a return on equity of 10.11% and a net margin of 25.61%. On average, analysts anticipate that Barclays PLC will post 39.1062802 EPS for the current year.

Insider Transactions at Barclays

In other Barclays news, insider Dawn Fitzpatrick purchased 2,307 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was bought at an average price of GBX 497 per share, with a total value of £11,465.79. Also, insider Robert Berry bought 1,908 shares of the stock in a transaction on Tuesday, July 28th. The shares were bought at an average cost of GBX 497 per share, for a total transaction of £9,482.76. Insiders acquired 27,498 shares of company stock worth $13,666,506 over the last quarter. Insiders own 0.35% 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. In addition, the company engages in securities dealing activities. The company was formerly known as Barclays Bank Limited and changed its name to Barclays PLC in January 1985.