Barclays (LON:BARC) Hits New 52-Week High – Still a Buy?

Barclays PLC (LON:BARC) shares reached a new 52-week high on Thursday . The stock traded as high as GBX 246.77 ($3.20) and last traded at GBX 243.20 ($3.16), with a volume of 176529344 shares trading hands. The stock had previously closed at GBX 238.15 ($3.09).

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Shore Capital reaffirmed a “buy” rating on shares of Barclays in a research note on Thursday. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a GBX 270 ($3.51) target price on shares of Barclays in a research note on Monday, September 9th. Finally, Citigroup reiterated a “buy” rating on shares of Barclays in a research report on Monday, September 2nd. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of GBX 276 ($3.58).

Barclays Price Performance

The company’s 50-day simple moving average is GBX 228.26 and its 200 day simple moving average is GBX 217.61. The firm has a market cap of £35.03 billion, a P/E ratio of 928.46, a price-to-earnings-growth ratio of 1.15 and a beta of 1.36.

Barclays Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, September 20th. Stockholders of record on Thursday, August 15th were issued a GBX 2.90 ($0.04) dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a dividend yield of 1.24%. Barclays’s dividend payout ratio (DPR) is presently 3,076.92%.

Insider Transactions at Barclays

In other news, insider Brian Gilvary sold 109,404 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of GBX 249 ($3.23), for a total value of £272,415.96 ($353,695.09). In related news, insider Anna Cross sold 49,013 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of GBX 221 ($2.87), for a total value of £108,318.73 ($140,637.15). Also, insider Brian Gilvary sold 109,404 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of GBX 249 ($3.23), for a total transaction of £272,415.96 ($353,695.09). Company insiders own 1.47% of the company’s stock.

Barclays Company Profile

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.