Barclays (NYSE:BCS) Reaches New 52-Week High - Here's Why

Barclays PLC (NYSE:BCS) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $12.50 and last traded at $12.47, with a volume of 878448 shares changing hands. The stock had previously closed at $12.29.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BCS. 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 issued a "buy" rating for the company. Finally, Kepler Capital Markets began coverage on shares of Barclays in a report on Thursday, September 5th. They issued a "buy" rating for the company. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat.com, Barclays presently has a consensus rating of "Moderate Buy".

Barclays Stock Performance

The company has a market capitalization of $46.42 billion, a PE ratio of 9.35, a price-to-earnings-growth ratio of 0.68 and a beta of 1.42. The company has a debt-to-equity ratio of 5.98, a quick ratio of 1.39 and a current ratio of 1.39. The stock's fifty day simple moving average is $11.94 and its 200-day simple moving average is $11.15.

Barclays (NYSE:BCS - Get Free Report) last announced its earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.02. The firm had revenue of $7.98 billion for the quarter. Barclays had a net margin of 16.83% and a return on equity of 5.94%. During the same quarter last year, the business posted $0.43 EPS. As a group, equities analysts predict that Barclays PLC will post 1.63 earnings per share for the current year.

Barclays Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 16th were given a $0.2684 dividend. The ex-dividend date was Friday, August 16th. This represents a dividend yield of 3.6%. This is an increase from Barclays's previous semi-annual dividend of $0.27. Barclays's payout ratio is currently 21.64%.

Institutional Trading of Barclays

Hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC boosted its holdings in shares of Barclays by 1,362.1% in the 2nd quarter. Acadian Asset Management LLC now owns 19,682,115 shares of the financial services provider's stock valued at $210,762,000 after purchasing an additional 18,335,937 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Barclays by 190.9% in the 2nd quarter. Renaissance Technologies LLC now owns 3,661,086 shares of the financial services provider's stock worth $39,210,000 after buying an additional 2,402,500 shares during the period. Sei Investments Co. boosted its holdings in Barclays by 118.7% in the second quarter. Sei Investments Co. now owns 2,709,312 shares of the financial services provider's stock valued at $29,017,000 after acquiring an additional 1,470,523 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Barclays by 4.7% during the second quarter. Envestnet Asset Management Inc. now owns 2,358,375 shares of the financial services provider's stock valued at $25,258,000 after acquiring an additional 105,857 shares during the period. Finally, Duquesne Family Office LLC increased its stake in Barclays by 97.4% during the second quarter. Duquesne Family Office LLC now owns 2,075,455 shares of the financial services provider's stock worth $22,228,000 after acquiring an additional 1,024,100 shares during the last quarter. 3.39% of the stock is owned by institutional investors and hedge funds.

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.