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Marker:
Barclays (BCS)
$ 6.986 down -1.904 (-21.42%)
Volume: 136,491,350
still looks OPEN.... trades are printing
BCS and other British banks are a gamble. High risk. High potential return.
Breakout $7.13
Out $7.05 from earlier in the day
That seems to be the general consensus - What those both still in and not in the stock will be watching for is further decline next week (mainly Monday) and beyond for any decision making here.
UK banks will be fine it's gonna be a toss up on whether the EU will survive now, without the UK and other starting to jump ship
Barclays PLC Is Down After Dividend Cut, Restructuring http://marketexclusive.com/barclays-plc-adr-nysebcs-is-down-in-pre-market-after-dividend-cut-and-restructuring/3602/
Nice $9. New support and still climbing
BCS $$$$$
Nice day at BCS
Awesome day to buy BCS 8.69 support and now back up.$$GO BCS $$$.imo
China’s Foreign Exchange Reserves Poised to Report Second Straight Monthly Drop
http://marketexclusive.com/chinas-foreign-exchange-reserves-poised-to-report-second-straight-monthly-drop/2498/
Barclays and Credit Suisse to Settle on Charges Against Dark Pools http://marketexclusive.com/barclays-plc-adr-nysebcs-and-credit-suisse-group-ag-adr-nysecs-to-settle-on-charges-against-their-dark-pools/2176/
Barclays Confirms Support For Apple Pay
http://marketexclusive.com/barclays-adr-nysebcs-confirms-support-for-apple-pay-as-of-q2/1903/
$ BCS. Barclays PLC (BCS) Ex-Dividend Date Scheduled for November 04, 2015
Barclays PLC (
BCS
) will begin trading ex-dividend on November 04, 2015. A cash dividend payment of $0.061156 per share is scheduled to be paid on December 11, 2015. Shareholders who purchased BCS prior to the ex-dividend date are eligible for the cash dividend payment. This represents an -2.33% decrease from the prior quarter. At the current stock price of $14.61, the dividend yield is 1.67%.
The previous trading day's last sale of BCS was $14.61, representing a -19.06% decrease from the 52 week high of $18.05 and a 8.06% increase over the 52 week low of $13.52.
BCS is a part of the Finance sector, which includes companies such as Mitsubishi UFJ Financial Group Inc (
MTU
) and Lloyds Banking Group Plc (
LYG
). BCS's current earnings per share, an indicator of a company's profitability, is $.14. Zacks Investment Research reports BCS's forecasted earnings growth in 2015 as 50.94%, compared to an industry average of 4.8%.
For more information on the declaration, record and payment dates, visit the
BCS Dividend History
page. Our Dividend Calendar has the full list of stocks that have an ex-dividend today.
Interested in gaining exposure to BCS through an Exchange Traded Fund [ETF]?
The following ETF(s) have BCS as a top-10 holding:
PowerShares Preferred Portfolio (
PGX
).
The top-performing ETF of this group is PGX with an increase of 1.64% over the last 100 days. It also has the highest percent weighting of BCS at 3.81%.
$ BCS. Pay date for BCS Cash Dividen is December the 11th which is just in time for X-Mas. GO > BCS
$ BCS. Maybe BCS will get a good Spike up when CHIT get thier Preferred Share Dividen. $ GO > $$$$$$$$$$$$$$$$$$$$ BCS
$ BCS. Like the way BCS is trading to day and may get interesting with GE involved IMO. GO > BCS
$ BCS. This looks like some good News to me on 11/2/2015. GE is selling their French banking arm. Bidders for GE Money Bank include CVC Capital, Cerberus, and JC Flowers. The process is managed by Rothschild and Morgan Stanley (NYSE:MS). Morgan Stanley is also working with Barclays (NYSE:BCS) to sell GE Capital units in the UK, Germany, and France.
GO > $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ BCS
$ BSC. Is holding strong and looking good here. GO > $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$4 BSC
BCS HOD 11.55 - 18% gain
UK Banks Slump After 'Unsurprising' ICB Report
Last update: 9/12/2011 3:42:59 AM
0742 GMT [Dow Jones] UK bank shares slump Monday after the release of the final report from the Independent Commission on Banking, which "looks mostly as expected by anyone reading the UK press in the last month," says Seymour Pierce. The prospects for Barclays (BARC.LN), the stock of which Seymour Pierce rates at hold, are a bit better than those for Royal Bank of Scotland (RBS.LN), which it rates at reduce. RBS shares are down 4.2% and Barclays down 4.4%. The FTSE 350 banks index is down 1.3% at 3267.19. More broadly, though, worries about the sector's exposure to sovereign debt weigh, particularly amid heightened concerns about Greece defaulting on its debt, with the Stoxx Europe 600 banks index down 5.2%.(michele.maatouk@dowjones.com)
Contact us in London. +44-20-7842-9464
Markettalk.eu@dowjones.com
(END) Dow Jones Newswires
September 12, 2011 03:42 ET (07:42 GMT)
UK Banks Unattractive; RBS Least Liked -JPMorgan
Last update: 9/6/2011 5:18:09 AM
0918 GMT [Dow Jones] U.K. banks remain unattractive on a risk reward basis due to regulatory uncertainties, says JPMorgan Cazenove. Highlights in particular proposals on ring-fencing by the U.K.'s Independent Commission on Banking. Sees Royal Bank of Scotland (RBS.LN) as least attractive on a relative risk/reward basis. Continues to see RBS's non-core business as a drag on profitability and does not see the group earning more than the cost of capital before 2014 at earliest. Barclays is JPMorgan's preferred U.K. domestic bank. But although it's cheap, says it is hampered by the ICB proposals. Has Barclays at neutral, RBS and Lloyds Banking Group (LLOY.LN) at underweight, HSBC (HSBA.LN) and Standard Chartered (STAN.LN) at overweight.(andrea.tryphonides@dowjones.com)
ADR Report-European banks lead broad sell-off
NEW YORK, Sept 6 | Tue Sep 6, 2011 10:58am EDT
NEW YORK, Sept 6 (Reuters) - U.S.-listed shares of European lenders tumbled on Tuesday as renewed concern with the ability of governments to solve the debt crisis grips the region's banking system.
European shares slumped, with banks hitting a 29-month low on worries about the political handling of the euro zone debt crisis. A regional index of European bank stocks .SX7P fell 2.9 percent and is down nearly 12 percent so far in September. For details see [.EU].
UBS (UBS.N) fell 11.9 percent to $12.61 and Barclays (BCS.N) slumped 9.5 percent to $9.59 in New York, while HSBC Holdings (HBC.N) dropped 4.7 percent to $40.40 and Spain's Banco Santander (STD.N) lost 7.9 percent to $7.90. RBS (RBS.N) lost 14 percent to $6.82 and Credit Suisse (CS.N) fell 13.8 percent to $23.59.
Investors worry that some of these banks have high exposure to sovereign debt from countries whose debt levels could be spiraling out of control. Concerns over whether Greece will receive its next aid tranche took center stage again.
The BNY Mellon index of leading American Depositary Receipts (ADRs) .BKADR was down 4.3 percent, while the U.S. benchmark S&P 500 index .SPX dropped 2.8 percent.
The BNY Mellon index of leading Asian ADRs .BKAS fell 3.2 percent, while the BNY Mellon index of leading European ADRs .BKEUR lost 5 percent.
The BNY Mellon index of leading Latin American ADRs .BKLA lost 4 percent. (Reporting by Rodrigo Campos; Editing by Theodore d'Afflisio
No rush to play this one to the upside, further flush needed, EU debt crisis reaching climax this week!
I own Oct $8 puts @.40
Banking analysts say the poor showing by Deutsche Bank and UBS doesn’t bode well for rivals Barclays Capital or Credit Suisse Group, which still have to report earnings.
Barclays Capital, which publishes its interim earnings on Aug. 2 and is the world’s second-largest currencies-dealing bank, reported its heaviest foreign-exchange trading volumes on record in the first quarter. A repeat performance might be too much to ask.
Banks Struggle to Make Money From Foreign Exchange
By Jessica Mead
July 27, 2011, 8:31 AM GMT
APIt’s not just the little guys that are struggling to make money from foreign exchange. The big boys aren’t having much luck either, if banks’ financial statements are anything to go by.
In their second-quarter results out Tuesday, currency-trading heavyweights Deutsche Bank and UBS both indicated that revenues from foreign-exchange trading fell in the three months to June.
Banks rarely break out revenue from currency trading alone and instead report performance for fixed income, currencies and commodities. However, UBS was clear about how its all-important currencies business fared last quarter.
UBS, which according to the annual benchmark Euromoney poll is the third-largest currency bank in the world, said revenues in its foreign-exchange business were lower in the second quarter compared with the same period in 2010.
“The exceptional volatility seen in the second quarter of 2010 did not recur, reducing the opportunity to capture spreads,” it explained.
Deutsche Bank, crowned the world’s biggest currency-dealing bank for seven years on the trot, was similarly downbeat.
“Compared to the prior-year quarter, revenues in rates, money markets and foreign exchange were lower, due to reduced flow volumes,” it said.
Foreign exchange used to be easy money for banks but reduced volumes and lower volatility in recent quarters have made it much tougher for banks of all sizes, as today’s results suggest.
It isn’t just European banks that appear to be feeling the squeeze. U.S. bank earnings published last week also hinted at a difficult second quarter–Citigroup and Goldman Sachs both reported a sharp fall in fixed-income, currencies and commodities revenues in the three months to June compared with a year earlier.
Banking analysts say the poor showing by Deutsche Bank and UBS doesn’t bode well for rivals Barclays Capital or Credit Suisse Group, which still have to report earnings.
Barclays Capital, which publishes its interim earnings on Aug. 2 and is the world’s second-largest currencies-dealing bank, reported its heaviest foreign-exchange trading volumes on record in the first quarter. A repeat performance might be too much to ask.
Moody's warns it may downgrade its Spanish bond rating
29 July 2011 Last updated at 10:48 ET
Moody's has warned it may downgrade the credit rating of Spanish government bonds, saying last week's second rescue package for Greece had done little to ease debt concerns in the eurozone.
The rating agency said it was reviewing Spain's current Aa2 grade, adding that if it was downgraded, it would probably be by just one level, to Aa3.
Moody's added that the Spanish economy remained "subdued".
The Spanish government has now called an early general election.
The announcement was made just hours after Moody's made its credit rating warning, and will see Spain go to the polls on 20 November.
Explaining the decision, Prime Minister Jose Luis Rodriguez Zapatero said he wished to "project political and economic certainty" over the months ahead.
However, it could be benefit the opposition conservative Popular Party, as it is ahead of the ruling Socialist Party in the polls.
The government could have waited until March of next year to hold the general election.
'Bond precedent'
In explaining why it was reviewing Spain's credit rating, Moody's highlighted the fact that as part of the second bail-out deal for Greece, private bondholders were being invited to participate.
Continue reading the main story
Analysis
Sarah Rainsford
BBC News, Madrid
--------------------------------------------------------------------------------
This is another blow to Spain - anxious to convince investors it won't need a Greek-style bailout. But Moody's still has concerns, so it has put Spain on review, for what's likely to be a one-notch downgrade of its government debt.
The ratings agency points to the slow pace of economic growth here, and the high levels of debt in Spain's autonomous regions. They account for almost half of state spending and several warn they'll overshoot the budget deficit target set by Madrid.
The Prime Minister, Jose Luis Rodriguez Zapatero, has insisted that won't affect his target of cutting Spain's overall deficit to 6% by the end of the year. But investor doubts, coupled with concern over the details of the latest bailout for Greece, has already pushed Spain's borrowing costs higher and higher.
The Prime Minister has now announced an early general election for November; the main opposition party has long insisted a change of government is the only way to recover confidence in this economy.
The private bondholders, such as banks, are being asked to exchange their current Greek bonds for ones which pay a lower rate of interest over a longer term.
Moody's said this set a "precedent", adding that it had "signalled a clear shift in risk for bondholders of countries with high debt burdens or large budget deficits".
However, if Spain is downgraded to Aa3, this remains a healthy investment grade.
Moody's also said five Spanish banks could have their credit ratings downgraded because of the same concerns.
These include the largest two lenders, Banco Santander and Banco Bilbao Vizcaya Argentaria (BBVA).
'Fiscal slippage'
Despite the forthcoming general election campaign, Spain's central government is continuing to enforce cost-cutting efforts to reduce its public deficit.
However, Madrid is hampered by the fact that Spain is a heavily devolved country, and its regional governments, such as those in Catalonia and the Basque region, are not moving as fast or as deep in trimming their spending.
Moody's highlighted this problem, warning of "fiscal slippage" at the regional and local government level.
Spain is also struggling with the eurozone's highest unemployment rate, which now stands at 20.9%.
Spain's main share index was down 0.7% in afternoon trading, after falling as much as 2.4% immediately following Moody's announcement.
The yield on the Spanish government's 10-year bonds rose 10 percentage points to 6.10%.
The euro declined, falling 0.3% against the dollar to $1.4287.
"The trigger is that the [Greek] deal last week has not really rebuilt confidence across the eurozone, so Spain is still on their radar screens with costs rising," said Giada Giani, analyst at Citigroup.
Spanish Prime Minister Jose Luis Rodriguez Zapatero has called a general election for November, four months earlier than expected.
29 July 2011 Last updated at 10:58 ET
He said this would enable a new government to confront Spain's economic problems from January.
Hours earlier, a credit rating agency warned it might downgrade Spain's rating due to weak growth prospects.
The opposition has demanded an early vote since May, when Mr Zapatero's Socialist Party lost in local polls.
"Early elections are what the majority of the electorate wanted, so this is good news," said Mariano Rajoy, the candidate of the main opposition Popular Party.
Continue reading the main story
“
Start Quote
I want a new government to take control of the economy from 1 January next year... fresh from the balloting”
End Quote
Jose Luis Rodriguez Zapatero
Eurozone in crisis graphics
It argues that a change of government is the only way to recover market confidence in the country.
Mr Zapatero will not be seeking a third term as prime minister, and opinion polls suggest his Socialist Party - led by former Interior Minister Alfredo Perez Rubalcaba - will lose.
Economic recovery?
The government's borrowing costs have risen in recent weeks, despite agreement on a second EU bailout package for Greece, reflecting the fact that investors still worry about the weak state of Spain's economy, says the BBC's Sarah Rainsford in Madrid.
Mr Zapatero said he was calling an early election - now set for 20 November - in order to "project political and economic certainty" over the months to come.
"I want a new government to take control of the economy from 1 January next year... fresh from the balloting."
He made his announcement after a speech in which he stressed that the economy was on the road to recovery, citing seven consecutive quarters of growth, and a recent decline in unemployment.
But 46% of young Spaniards remain out of work - and the overall unemployment rate is twice the European average.
There is concern too over the level of debt in Spain's regions, and the health of the banking sector, our correspondent says.
The international ratings agency, Moody's, has just warned that it is putting Spanish government debt on review, for a possible downgrade from Aa2 to Aa3.
Barclays had 8.8 billion euros of Spanish government debt, according to its statement, the most among the U.K. banks.
RBS, Lloyds, Barclays Fall After Stress Tests Expose Weaknesses
By Howard Mustoe - Jul 18, 2011 8:11 AM ET .
Royal Bank of Scotland Group Plc (RBS), Barclays Plc (BARC) and Lloyds Banking Group Plc (LLOY) tumbled in London trading after stress tests exposed the potential for losses from their sovereign and real-estate investments.
Barclays fell as much as 3.9 percent and was down 3.4 percent at 215.8 pence at 12:41 p.m. RBS slid as much as 4.7 percent and was down 1.6 pence at 33.5 pence. Lloyds dropped as much as 3.6 percent to 43.1 pence.
“They didn’t come out particularly strong,” said Shailesh Raikundlia, an analyst at MF Global Ltd. in London. “Lloyds, and RBS in particular because of their Ireland exposure, as well as the commercial real estate, where the writedowns were pretty severe on an adverse scenario.”
European banks may have to raise as much as 80 billion euros ($112 billion) of additional capital as stress tests conducted by the European Banking Authority failed to allay investor concern about a Greek default and governments’ ability to bail-out their lenders, wrote analyst Kian Abouhossein, at JPMorgan Cazenove after the results were published on July 15.
RBS holds 389 million pounds of Irish sovereign debt, it said in its stress test results. RBS took a 1.82 billion-pound ($2.93 billion) provision for its non-defaulted commercial real- estate loans under the EBA’s adverse scenario for 2011, compared with an actual provision of 482 million pounds for 2010. Lloyds recorded provisions for non-defaulted commercial real estate loans of 338 million euros for 2011 in the tests, compared with 297 million euros for 2010.
Barclays had 8.8 billion euros of Spanish government debt, according to its statement, the most among the U.K. banks.
Barclays is at a 2 year low here, it might be ready for a cliff dive...
The stress test revealed this...
Barclays had 8.8 billion euros of Spanish government debt, according to its statement, the most among the U.K. banks.
LONDON MARKETS: U.S. Losses, Lloyds, Royal Dutch Weigh On London
Barclays (NYSE:BCS)
Intraday Stock Chart
Today : Wednesday 1 June 2011
Click Here for more Barclays Charts.
By Barbara Kollmeyer, MarketWatch
MADRID (MarketWatch) -- London stocks broke a five-session winning streak Wednesday, as disappointing U.S. data intensified losses concentrated in banks such as Lloyds Banking Group PLC and oil giant Royal Dutch Shell PLC.
The FTSE 100 index closed down 1% at 5,928.61 after five consecutive sessions of gains. The index fell 1.3% for May, its worst monthly performance since March.
Losses for London intensified as Wall Street stocks sold off in the wake of a disappointing gauge of manufacturing activity and a private-sector payroll report.
Economic data in the U.K. also weighed on sentiment. The manufacturing purchasing managers survey for May fell to a 20-month low of 52.1 from 54.4 in April, according to a survey by Markit and the Chartered Institute of Purchasing & Supply.
"The fall in the PMI is in line with our negative outlook on the U.K. economy, and our growth forecasts remain at 1.3% for both 2011 and 2012," said analysts at Exane BNP Paribas.
A top decliner was Lloyds Banking Group PLC , which fell 3.8%, continuing losses seen in the prior session. Morgan Stanley said in a research note earlier in the day that Lloyds is most exposed to its prediction of a 10% fall in U.K. house prices, as it sees valuations stretched and the outlook for household real income weak. Morgan Stanley expects 21% lower profit before tax for Lloyds than consensus in 2012.
Shares of Barclays PLC (BCS) also dropped, losing 2.5% and Royal Bank of Scotland Group PLC (RBS) fell 1.8%.
AT A GLANCE: UK Bank 1Q Earnings Hit By PPI, Regulatory Charges
Last update: 5/9/2011 7:58:10 AM
THE NEWS: HSBC Holdings PLC (HBC) wrapped up the U.K. banks' first-quarter earnings Monday with a disappointing set of results that highlighted the challenges for new Chief Executive Stuart Gulliver to improve the bank's revenue and cuts its costs.
It also weighed in on how much it expects to repay to customers mis-sold payment protection insurance on mortgages and other loans, after Lloyds Banking Group PLC (LYG) shocked the market last week with a GBP3.2 billion provision.
HSBC set aside $440 million and Barclays PLC (BCS) Monday said it is earmarking GBP1 billion to PPI customers.
It was largely a lackluster quarter for the country's banks, with only Asia-focused Standard Chartered PLC (STAN.LN) pleasing the market with record income.
BARCLAYS, reported April 27: First-quarter net profit slipped to GBP1.01 billion from GBP1.067 billion amid a sharp fall in revenue at its Barclays Capital investment-banking unit. Bank executives said uncertainty over coming regulatory requirements is hindering dividend growth, and that reducing credit exposure will be a priority to curb the effects of higher capital charges from 2013 on risky assets.
Barclays said the U.K. bank levy charge will be about GBP100 million for the first quarter. On May 9, it said it is provisioning GBP1 billion for PPI customers.
SANTANDER UK, reported April 28: The U.K. arm of Spain's Banco Santander SA (STD), said higher regulatory and liquidity costs hit profit, for a 2% fall in first-quarter net profit from a year earlier, to GBP419 million. It said it has had to pay more to replace maturing debt, and is holding GBP30 billion more in liquid assets than it did 15 months ago because of tougher liquidity regulation. The bank said it is paying out PPI claims as they arise and doesn't need to make a provision.
STANDARD CHARTERED, reported May 4: The U.K.-based, Asia-focused bank said it made record revenue in the first quarter, from double-digit growth in both retail and wholesale banking. Cost growth is still outpacing revenue growth but narrowing from 2010 levels. The bank repeated guidance that it aims to fully bridge that gap by the end of 2011. Hong Kong, India, Singapore, Malaysia and China all made strong contributions, the bank said. It never sold PPI products.
LLOYDS BANKING GROUP, reported May 5: The 41% state-owned bank made a surprise GBP3.2 billion provision to cover refunds to customers mis-sold payment protection insurance on mortgages, credit cards and personal loans, a higher figure than had been expected and putting pressure on its peers to drop a legal effort to stem costs. Because of the charge, as well as lower retail margins, the bank posted a GBP2.44 billion net loss in the first quarter, compared with a GBP169 million net profit in the first quarter of 2010. Attention is now on a strategic update due at the end of June from new CEO Antonio Horta-Osorio, who gave few clues Thursday on what it might hold.
ROYAL BANK OF SCOTLAND GROUP PLC (RBS), reported May 6: The bank's first-quarter loss widened from accounting charges and rising bad debts in Ireland, but its shares rose more than 3% Friday as investors and analysts took comfort from improvements in the bank's core divisions.
Group operating profit, stripping out tax, accounting charges and restructuring costs, was GBP1.05 billion in the three months--better than some analysts' expectations--compared with GBP882 million in the first three months of 2010. The 83% state-owned bank took GBP1.95 billion in impairments, down 27% from GBP2.68 billion and including GBP1.29 billion from its Ireland loan books. RBS still hasn't said what it might have to pay over PPI.
HSBC, reported May 9: The bank's costs soared in the first quarter from a series of one-off charges that included a $440 million provision over mis-sold payment protection insurance. However, net profit rose 58% as it took hefty tax credits in its U.S. business. Analysts said they were disappointed with flat revenue and a miss on pretax profit figures, and that they would probably revise their full-year estimates downward.
HSBC's cost-income ratio, or expenses relative to income, hit 60.9%, well above its target of around 52%. New CEO Gulliver on Wednesday will outline the bank's priorities and potential step-back from some countries and businesses. Europe and North America are seen as the biggest candidates for restructuring.
-By Margot Patrick, Dow Jones Newswires; +44 (0)20 7842 9451; margot.patrick@dowjones.com
(END) Dow Jones Newswires
May 09, 2011 07:58 ET (11:58 GMT)
*** LATEST BROKER TARGETS 10/11/09 TO 15/01/10 ***
ORIEL......................BUY TARGET PRICE 325p 10 NOVEMBER 2009
Societe Generale...........BUY TARGET PRICE 410p 11 NOVEMBER 2009
Goldman Sachs..............NEU TARGET PRICE 391p 11 NOVEMBER 2009
RBS........................HLD TARGET PRICE 360p 11 NOVEMBER 2009
ING........................HLD TARGET PRICE 460p 12 NOVEMBER 2009
Morgan Stanley.............OW. TARGET PRICE 435p 25 NOVEMBER 2009
BERNSTEIN..................OP. TARGET PRICE 360p 25 NOVEMBER 2009
Shore Capital..............BUY TARGET PRICE ???p 02 DECEMBER 2009
JP Morgan..................NEU TARGET PRICE 283p 04 DECEMBER 2009
Evolution Securities.......BUY TARGET PRICE 448p 07 DECEMBER 2009
Nomura.....................BUY TARGET PRICE 425p 18 DECEMBER 2009
Keefe, Bruyette & Woods....OP. TARGET PRICE 410p 04 JANUARY 2010
MF Global..................BUY TARGET PRICE 595p 05 JANUARY 2010
UBS........................BUY TARGET PRICE 392p 08 JANUARY 2010
Citigroup..................BUY TARGET PRICE 414p 11 JANUARY 2010
Execution..................BUY TARGET PRICE 386p 14 JANUARY 2010
AlphaValue.................BUY TARGET PRICE 401p 14 JANUARY 2010
Deutsche Bank..............BUY TARGET PRICE 420p 15 JANUARY 2010
HSBC.......................BUY TARGET PRICE 450p
GALVAN.....................BUY TARGET PRICE 400p
** SECTOR COMPARISON AS OF 14/01/10 **
HSBC
Market cap: 124.92bn p/e: 24.46
Standard Chartered
Market cap: 31.24bn p/e: 13.23
Barclays Bank
Market cap: 35.80bn p/e: 7.09 (*)
(*) Barclays is highly undervalued.
Valuation data source: FT.com
RESULTS DUE SOON
16 FEBRUARY
SUBSTANTIALLY IMPROVED DIVIDEND EXPECTED
------------------------
Barclays on track for record profits
NOVEMBER 2009
Bank admits rises in pay for investment bankers at Barclays Capital are 'under consideration'
Barclays is reinstating its dividend for the first time since the banking crisis erupted.
Barclays is considering handing pay rises to its top investment bankers despite its insistence it will consider the view of the "broader community" when setting bonus levels.
Its Barclays Capital investment bank – bolstered by the takeover of the Wall Street operations of Lehman last year – made pre-tax profits of £1.4bn for the first nine months of the year out of total group profits of £4.54bn.
The City believes Barclays is on track to report record profits by year end but even so its shares were the largest fallers in the FTSE 100 - losing 5% to 325.3p - amid concern that BarCap was losing momentum.
The bank, which has not taken taxpayer cash, also resumed its dividend payments which it was forced to stop because of the crisis. The 1p it declared for the third quarter was described as "nominal" by analysts at JP Morgan who noted the bank was reiterating its guidance that dividends would not reach the levels of previous years.
The bank's senior independent director, Sir Richard Broadbent, is holding discussions with shareholders this week to establish how bonuses can be paid and comply with the G20 principles on pay which require deferral and some payment in shares.
Rich Ricci, chief operating officer of the investment bank, admitted that a pay rise was being considered. "We are looking at salaries. We haven't done anything yet." He added that base pay was "under consideration".
HSBC admitted today that its investment bank was performing well and its finance director, Douglas Flint, said HSBC bonuses would be "appropriate", noting the bank was "conscious of the environment in which we operate".
It was a sentiment echoed by Barclays's finance director, Chris Lucas. He refused to reveal how much money was being accrued to pay out bonuses by the end of the year, but he said: "We will be fully compliant with the G20 and in considering bonus amounts we will think of all stakeholders, including employees, shareholders and the broader community – and be taking into account all their views."
Analysts at Credit Suisse noted that costs at BarCap were up about 20% in the third quarter. The performance of Barclays's global retail and commercial banking arm – where profit before tax declined to £2.1bn compared with £3.1bn last time – was better than the City had expected, particularly after the bank announced last week that its head Frits Seegers, hired on a £12m pay deal three years ago, was leaving.
The bank indicated that its bad debt charge was levelling off. While the impairment charges reached £6.2bn for the nine months, up from £3.7bn in the comparable period last year, the bank said it expected the full-year charge to be at the bottom end of the 2009 consensus range of £9bn to £9.6bn.
http://www.guardian.co.uk/business/2009/nov/10/barclays-profits-dividend-reinstated
I would buy as many as I can as the city expect their profits to be the highest ever.
A recent article from the Guardian paper said: bumper profits for 2010!
They have pocketed $11 billion fro Blackrock, they hold 19% of shares in Blackrock which they were $182 at the time of the sale and they are now $238 each ( $56 increase of their asset value), they just had a transfer of $44 billion assetes from Lehman Brothers.The dividend is expected to be increased significantly and 15 brokers said that the share target price will be $25-$30 (£4.10-£4.60).
Results in 3 weeks time- 16 February.
My target price is $40-$45 (£5.50-£6) by Xmas and a very juicy dividend.
Good luck!
I hold 40,000 for long term!
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BCS - Barclays PLC
Barclays Plc
1 Churchill Place
England E14 5HP
United Kingdom
http://www.barclays.co.uk
http://www.barclays.com/
Primary Trading Venue --> NYSE
Company Officers
CEO --> John Varley
President --> Robert E. Diamond Jr.
Naguib Kheraj, Group Fin. Dir. --> IR Contact, IR
Phone: +44 (0)20-7116-1000
A global financial services provider engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management services. The Company operates through eight business segments: UK Banking, Barclaycard, International Retail and Commercial Banking, Barclays Capital, Barclays Global Investors (BGI), Barclays Wealth, Barclays Wealth-Closed Life Assurance Business, and and other operations.
Barclays PLC provides financial services worldwide. It offers retail and commercial banking, credit cards, investment banking, wealth management, and investment management services. The company provides current accounts, deposit accounts, savings accounts, investments, mortgages, installment finance, loans, and general insurance, as well as advice, information and support, and asset financing and leasing solutions. It also operates a credit card and consumer loans business, which also processes card payments for retailers and merchants, as well as issues credit and charge cards to corporate customers and the United Kingdom government. The company's investment banking services include fixed income, foreign exchange, commodities, emerging markets, money markets, sales, trading and research, prime services, and equity products; and primary and secondary activities for loans and bonds, hybrid capital products, asset-based finance, commercial mortgage-backed securities, credit derivatives, structured capital markets, and large asset leasing, as well as private equity. Its investment management products and services consist of structured investment strategies, such as indexing, global asset allocation, and risk controlled active products; and related investment services, including securities lending, cash management, and portfolio transition services. The company also offers assets and products in the exchange traded funds business. In addition, Barclays provides wealth management services, such as private banking, asset management, stock broking, offshore banking, wealth structuring, and financial planning services. Further, its wealth-closed life assurance activities comprise closed life assurance businesses. The company, formerly known as Barclay & Company Limited, was founded in 1690. It changed its name to Barclays Bank Limited in 1917 and to Barclays PLC in 1985. The company is headquartered in London, the United Kingdom.
In addition, the company operates 2,902 branches worldwide.
52 wk. High 62.68
52 wk. Low 21.74
Dividend 2.5682
Yield 7.527
Earnings/Share 6.80
P/E Ratio 5.0176
Outstanding Shares: 1.64 Bil.
Institution Holdings: 2.20% (as of 1/1/08)
Total Held: 36.22 Mil Institutions: 278
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2 YR Daily
(looking for assistant mod's) ; ) (Thank You)
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