Barclays PLC (NYSE:BCS) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “Barclays' sustained progress in lowering expenses will lead to enhanced profitability over time. Further, the company remains on track to achieve targeted cost savings this year and has been divesting non-core operations world-wide. Moreover, balance sheet restructuring will support financials in the long run. However, the company's muted revenue growth remains a major concern. Also, the Brexit storm is likely to have an unprecedented adverse effect on its financials in the quarters ahead. Further, the company's profitability is being affected by legal woes and a stringent regulatory landscape.”

Several other research firms have also commented on BCS. Exane BNP Paribas raised Barclays PLC from a “neutral” rating to an “outperform” rating in a research report on Monday, August 8th. Deutsche Bank AG reiterated a “neutral” rating on shares of Barclays PLC in a research note on Thursday, June 16th. Investec downgraded Barclays PLC from a “buy” rating to a “hold” rating in a research note on Wednesday, May 25th. BNP Paribas upgraded Barclays PLC from a “neutral” rating to an “outperform” rating in a research note on Monday, August 8th. Finally, Goldman Sachs Group Inc. downgraded Barclays PLC from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 28th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Barclays PLC has a consensus rating of “Hold” and an average price target of $46.91.

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Shares of Barclays PLC (NYSE:BCS) opened at 8.62 on Wednesday. The firm’s 50-day moving average is $8.67 and its 200-day moving average is $9.03. Barclays PLC has a 52 week low of $6.76 and a 52 week high of $15.86. The firm’s market capitalization is $29.80 billion.

The business also recently declared a dividend, which was paid on Monday, September 19th. Investors of record on Friday, August 12th were issued a $0.052 dividend. The ex-dividend date of this dividend was Wednesday, August 10th. Barclays PLC’s dividend payout ratio is presently -31.25%.

Several large investors have recently bought and sold shares of the stock. Sterling Capital Management LLC boosted its stake in Barclays PLC by 0.5% in the second quarter. Sterling Capital Management LLC now owns 17,517 shares of the financial services provider’s stock valued at $133,000 after buying an additional 83 shares in the last quarter. Rehmann Capital Advisory Group boosted its stake in Barclays PLC by 5.5% in the first quarter. Rehmann Capital Advisory Group now owns 19,096 shares of the financial services provider’s stock valued at $165,000 after buying an additional 991 shares in the last quarter. Checchi Capital Advisers LLC boosted its stake in Barclays PLC by 5.6% in the second quarter. Checchi Capital Advisers LLC now owns 20,494 shares of the financial services provider’s stock valued at $156,000 after buying an additional 1,088 shares in the last quarter. Berkeley Capital Partners LLC boosted its stake in Barclays PLC by 13.4% in the first quarter. Berkeley Capital Partners LLC now owns 13,533 shares of the financial services provider’s stock valued at $117,000 after buying an additional 1,595 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in Barclays PLC by 4.1% in the second quarter. Rhumbline Advisers now owns 45,712 shares of the financial services provider’s stock valued at $347,000 after buying an additional 1,814 shares in the last quarter. 2.95% of the stock is owned by hedge funds and other institutional investors.

Barclays PLC Company Profile

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.

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