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  • 13 Feb 20
Equity adjustments offset by reduced capital usage

Although the quarterly operating performance was on track, notably thanks to cost savings, it seems that asset quality has deteriorated markedly. The tangible book value was impacted by heavy adjustments but this was offset by reduced capital usage.

Companies: Barclays
  • 13 Feb 20
Equity adjustments offset by reduced capital usage

Although the quarterly operating performance was on track, notably thanks to cost savings, it seems that asset quality has deteriorated markedly. The tangible book value was impacted by heavy adjustments but this was offset by reduced capital usage.

Companies: Barclays
  • 13 Feb 20
Morning Update: City watchdog probing Barclays CEO links to sex offender Epstein
morning-update-city-watchdog-probing-barclays-ceo-links-to-sex-offender-epstein
  • 13 Feb 20
Morning Update: City watchdog probing Barclays CEO links to sex offender Epstein
morning-update-city-watchdog-probing-barclays-ceo-links-to-sex-offender-epstein
  • 13 Feb 20
Morning Report: City watchdog probing Barclays CEO links to sex offender Epstein
morning-report-city-watchdog-probing-barclays-ceo-links-to-sex-offender-epstein
  • 13 Feb 20
Morning Report: City watchdog probing Barclays CEO links to sex offender Epstein
morning-report-city-watchdog-probing-barclays-ceo-links-to-sex-offender-epstein
  • 25 Oct 19
Record PPI charges but resilient operating trends

The quarter was marked by record PPI-related charges, fortunately absorbed by a favourable RWA model change. On the other hand, the quarter showed resilient operating trends. The warning over 2020 seems already factored into consensus expectations.

Companies: Barclays
  • 25 Oct 19
Record PPI charges but resilient operating trends

The quarter was marked by record PPI-related charges, fortunately absorbed by a favourable RWA model change. On the other hand, the quarter showed resilient operating trends. The warning over 2020 seems already factored into consensus expectations.

Companies: Barclays
  • 01 Aug 19
Capital generation boosted further by non-P&L items

The first half operating trends failed to confirm the planned top-line recovery targeted by management. On the positive, capital generation enjoyed a boost from non-P&L items, including reduced capital consumption.

Companies: Barclays
  • 01 Aug 19
Capital generation boosted further by non-P&L items

The first half operating trends failed to confirm the planned top-line recovery targeted by management. On the positive, capital generation enjoyed a boost from non-P&L items, including reduced capital consumption.

Companies: Barclays
  • 25 Apr 19
Worst avoided ahead of next week’s AGM

This set of quarterly results was even more important than the group holding a particularly interesting AGM next week. Management has already bolstered its defences against Mr Bramson who is targeting a seat on the Board. We consider that the first quarter performance of the scrutinised CIB division proved relatively resilient, continuing to show good momentum vis-à-vis peers and strong cost control.

Companies: Barclays
  • 25 Apr 19
Worst avoided ahead of next week’s AGM

This set of quarterly results was even more important than the group holding a particularly interesting AGM next week. Management has already bolstered its defences against Mr Bramson who is targeting a seat on the Board. We consider that the first quarter performance of the scrutinised CIB division proved relatively resilient, continuing to show good momentum vis-à-vis peers and strong cost control.

Companies: Barclays
  • 21 Feb 19
Welcome earnings resilience

The group posted encouraging fourth quarter results in a particularly challenging context. This enabled management to reiterate its objectives for 2019 and 2020.

Companies: Barclays
  • 21 Feb 19
Welcome earnings resilience

The group posted encouraging fourth quarter results in a particularly challenging context. This enabled management to reiterate its objectives for 2019 and 2020.

Companies: Barclays
  • 24 Oct 18
Ongoing delivery

The group posted a good set of quarterly results as evidenced by the 37bp organic capital generation. Quarterly trends showed no deterioration in asset quality, ongoing outperformance in capital markets and normalisation in wholesale funding costs, and the ability to absorb investments through efficiency gains.

Companies: Barclays
  • 24 Oct 18
Ongoing delivery

The group posted a good set of quarterly results as evidenced by the 37bp organic capital generation. Quarterly trends showed no deterioration in asset quality, ongoing outperformance in capital markets and normalisation in wholesale funding costs, and the ability to absorb investments through efficiency gains.

Companies: Barclays
  • 02 Aug 18
Capital redeployment strategy bears fruit

BARC posted a strong set of quarterly results, driven by a further increase in revenues which confirm that the group’s capital redeployment strategy has continued to bear fruit. Asset quality showed no deterioration in a Brexit context.

Companies: Barclays
  • 02 Aug 18
Capital redeployment strategy bears fruit

BARC posted a strong set of quarterly results, driven by a further increase in revenues which confirm that the group’s capital redeployment strategy has continued to bear fruit. Asset quality showed no deterioration in a Brexit context.

Companies: Barclays
  • 11 May 18
Successful capital redeployment in CIB

The reported quarterly performance was depressed by litigation charges and FX headwinds but the underlying trends showed stable asset quality and a successful capital redeployment in CIB. The 2018 6.5p dividend for this year has been confirmed.

Companies: Barclays
  • 11 May 18
Successful capital redeployment in CIB

The reported quarterly performance was depressed by litigation charges and FX headwinds but the underlying trends showed stable asset quality and a successful capital redeployment in CIB. The 2018 6.5p dividend for this year has been confirmed.

Companies: Barclays
  • 22 Feb 18
No real surprise

Underlying trends were broadly in line with expectations as are management’s mid-term profitability targets. The revival of market volatility is good news for CIB activities but the $/£ weakness less so. The stock continues to show a large valuation discount, only partly justified by Brexit-related risks in our view.

Companies: Barclays
  • 22 Feb 18
No real surprise

Underlying trends were broadly in line with expectations as are management’s mid-term profitability targets. The revival of market volatility is good news for CIB activities but the $/£ weakness less so. The stock continues to show a large valuation discount, only partly justified by Brexit-related risks in our view.

Companies: Barclays
  • 26 Oct 17
Upside fully relies on cost savings delivery

The group posted quarterly results notably below consensus expectations. Management tried to calm down investors with quantified RoTE commitments for 2019 and 2020 but the latter have lost patience. The most solid profitability lever consists in the promised £1bn costs savings which are not factored at current price levels in our view.

Companies: Barclays
  • 26 Oct 17
Upside fully relies on cost savings delivery

The group posted quarterly results notably below consensus expectations. Management tried to calm down investors with quantified RoTE commitments for 2019 and 2020 but the latter have lost patience. The most solid profitability lever consists in the promised £1bn costs savings which are not factored at current price levels in our view.

Companies: Barclays
  • 28 Jul 17
PPI and market volatility knock on

As expected, the quarterly performance was affected by lower market volatility in rates and currency. This was not the case as regards the extra provisioning on PPI. It still has to be seen if, similar to Lloyds, management considers this is a last ditch effort. Organic excess capital generation was strong, helped by the accelerated run-down of non-core assets. The group looks properly capitalised ahead of pending regulatory impacts. Management reiterated its long-term financial objectives.

Companies: Barclays
  • 28 Jul 17
PPI and market volatility knock on

As expected, the quarterly performance was affected by lower market volatility in rates and currency. This was not the case as regards the extra provisioning on PPI. It still has to be seen if, similar to Lloyds, management considers this is a last ditch effort. Organic excess capital generation was strong, helped by the accelerated run-down of non-core assets. The group looks properly capitalised ahead of pending regulatory impacts. Management reiterated its long-term financial objectives.

Companies: Barclays
  • 01 Jun 17
Accelerated divestment of African operations

The group placed 33.7% of Barclays Africa, reducing its stake to 15%, thus immediately meeting the level it wanted to retain. As planned, the full deconsolidation will free up around 70bp of capital and improve capital usage and, consequently, the return on capital.

Companies: Barclays
  • 01 Jun 17
Accelerated divestment of African operations

The group placed 33.7% of Barclays Africa, reducing its stake to 15%, thus immediately meeting the level it wanted to retain. As planned, the full deconsolidation will free up around 70bp of capital and improve capital usage and, consequently, the return on capital.

Companies: Barclays
  • 14 Mar 17
What to make of Challenger Banks

Newcomers offer higher ROE, higher growth and attractive cost:income metrics

Companies: HSBALLOYBARCRBSVMUKOSBVM/ALDSHAWMTRO
  • 14 Mar 17
What to make of Challenger Banks

Newcomers offer higher ROE, higher growth and attractive cost:income metrics

Companies: HSBALLOYBARCRBSVMUKOSBVM/ALDSHAWMTRO

Research, Charts & Company Announcements

Research Tree provides access to ongoing research coverage, media content and regulatory news on Barclays. We currently have 23 research reports from 3 professional analysts.

Open
N/A
Range Today
N/A
52 Week
136/192p
Daily Volume
N/A
# Shares
17,325m
Daily Liquidity
(0.32%)
Pension Liability
£392.4m
Enterprise Value
£-101,623m
Market Cap
£31,120m
Latest PE (hist)
12.30
Div Yield
5.11

Latest News/RNS

(more news)
Date Source Announcement
20Feb20 18:02 RNS Holding(s) in Company
18Feb20 18:00 RNS Director/PDMR Shareholding
14Feb20 16:00 RNS Annual Report on Form 20-F
13Feb20 07:00 RNS Director effectiveness assessment
13Feb20 07:00 RNS Annual Financial Report
13Feb20 07:00 RNS Annual Results Announcement
12Feb20 17:45 RNS Holding(s) in Company
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  • 21 Feb 20
Cenkos Securities - Costs adjusted to protect profitability

2019 was a difficult year for UK equity capital markets activity, and Cenkos demonstrated the strength of its flexible business model and the client relationships sustained by its staff, achieving full year profitability despite one-off restructuring costs. Lower fixed costs will benefit future earnings and Cenkos reports a positive start to 2020 with a strong pipeline. Conservatively, we have reduced our revenue/earnings assumptions for this year, but improved market/investor confidence could generate significant upside.

Companies: Cenkos Securities
  • 20 Feb 20
Lowered costs and impairments guidance at the rescue

The group released a mixed set of quarterly results, characterised by a fall in the tangible book value and a reduced capital usage. Management’s guidance for this is reassuring: the group is expected to meet expectations thanks to stronger cost control and lower cost of risk.

Companies: Lloyds Banking Group
  • 18 Feb 20
Accelerated repositioning

The quarterly underlying performance came in line with expectations. The expected Coronavirus-related impairments and the temporary extra capital consumption look limited. The related revenue losses remain unknown but are expected to be progressively offset by organic growth. The announced acceleration in the group’s repositioning comes at the right time, confirming management’s confidence in Asia’s longer-term potential and enabling the group to improve its capital usage ahead of the implementation of Basel 3.

Companies: HSBC
  • 17 Feb 20
Placing closes ahead of target, raising £130m

Urban Logistics REIT (“ULR”) successfully closed its Placing last Friday (14/2) raising £130m gross, materially exceeding the original £100m target. There is scope for this to further increase via an Open Offer/Offer for Subscription and an over-allotment option. The proposed 3.85p special dividend has now been declared. The manager’s incentivisation arrangements will be amended. These are all subject to shareholder approval at the General Meeting to be held on 9th March. The acquisition of pipeline assets is expected to be earnings accretive in the first full year. The market trends for ULR’s target asset class in the small/mid-box logistics space remain supportive of total returns.

Companies: Urban Logistics REIT
  • 07 Nov 19
Cenkos Securities - Resilient broker with a substantial track record

Cenkos has a record of successful fund-raising for clients and maintaining annual profitability since its inception in 2005. This reflects its focus on client outcomes, a well-established network of business relationships and flexibility in its cost base. Its client relationships should stand it in good stead when market conditions become more favourable. In the meantime, the company’s strong balance sheet, with substantial capital headroom, provides reassurance and Cenkos would not need to attain earlier levels of return on equity to warrant a materially higher valuation.

Companies: Cenkos Securities
  • 12 Feb 20
LIBERUM: Plus500* - Q4 stronger than thought

Q4 saw $100m of revenues ex customer P+L. The company will return 100% of 2019 profits to shareholders through dividends and buybacks, has $293m net cash, and may seek targeted acquisitions, new licences and product extensions.

Companies: Plus500
  • 20 Feb 20
Primary Health Properties - Winning returns, lowest costs

Primary Health Properties PLC (LON:PHP) recently announced its full-year results to December 2019. These were in line with our forecast and confirmed a strong year for the company. Earnings per share as measured by the adjusted EPRA EPS (see footnotes to the table) grew by 5.8%, and the dividend (f

Companies: Primary Health Properties
  • 20 Feb 20
Fidelity China Special Situations - Weak sentiment providing opportunities

Fidelity China Special Situations (FCSS) aims to deliver long-term capital growth, following a bottom-up approach to investing in companies listed in China, and Chinese companies listed elsewhere. The trust marks its 10th anniversary in April 2020 and, since inception, it has generated an annualised NAV total return of 11%. Chinese equities have been relatively out of favour for some time against a backdrop of the US-China trade dispute, Hong Kong political protests and, more recently, the coronavirus. The manager, Dale Nicholls, is finding exciting opportunities at attractive valuations, and continues to focus primarily on smaller companies that can benefit from long-term secular growth trends.

Companies: Fidelity China Special Situations
  • 08 Jan 20
UK Housebuilding Sector: 2020 vision: Sharpness and clarity for industry prospects

For fighter pilots, it is a minimum requirement. But having 20/20 ‘visual acuity’ (correct term) does not necessarily mean you have perfect vision (as convention assumes); instead, it indicates sharpness and clarity of vision at a distance. It is measured by a Snellen Chart, which displays letters of progressively smaller size and whereby 20/20 means that the test subject sees the same line of letters at 20 feet that a person with normal vision sees at 20 feet (or 6 metres; but 6/6 simply didn’t catch on).

Companies: ABBY BDEV BWY BKG VTY CRN CSP CRST GLE GLV INL MCS PSN RDW SPR TW/ WJG

  • 20 Feb 20
Grainger

Acceleration to scale; NTA premium pricing this

Companies: Grainger
  • 27 Jan 20
Cenkos: Equals Group Plc -- Strong growth confirmed with B2B pivot

Today's update confirms Equals has delivered a second straight year of material revenue and profit growth, despite difficult market conditions, with a significant shift in the revenue profile towards more profitable B2B customers. Given profit delivery has been slightly lower than expected, we rebase our forecasts to take a more prudent view of trading in years FY21E and FY22E, but we are confident Equals has now assembled the products, infrastructure and management it needs for strong growth.

Companies: Equals Group
  • 18 Feb 20
Securities Trust of Scotland - High-conviction portfolio of quality companies

Securities Trust of Scotland (STS) aims to generate income and long-term capital growth through a bottom-up approach to investing in global equities. The manager, Mark Whitehead, focuses on quality companies with an ability to sustain dividend growth, to build a relatively concentrated portfolio of 35–55 high-conviction stocks. In his view, this approach is naturally aligned with selecting companies that score highly on ESG issues. Since Whitehead’s appointment, and the adoption of the mandate, STS has delivered an annualised NAV total return of 12.9% and increased demand for its shares the valuation from trading at a persistent discount to trading at a premium to NAV.

Companies: Securities Trust Of Scotland
  • 20 Feb 20
Cenkos: Sativa Group Plc -- CBD product listing with WH Smith Travel

Sativa Group has announced that its subsidiary, Goodbody Botanicals, has secured a CBD product listing with WH Smith Travel. WH Smith Travel operates 1019 stores, 586 in the UK and 433 internationally, with this initial listing for c100 of their highest footfall stores, leaving significant headroom to grow if successful. This listing has been won through the partnership with SHS Sales and Marketing and the Company notes this is the first completed agreement of numerous other potential national product listing arrangements currently in discussion via SHS.

Companies: Sativa Group
  • 21 Feb 20
Is the British's sell-off in sight ?

Hammerson has disposed of new assets in the UK at a price 22% below their June 2019 book value, or a yield of 8.7% from the buyer’s side. The crisis is not over.

Companies: Hammerson
  • 18 Sep 19
Adapting to market conditions

Cenkos has not been immune from the challenging market conditions in the first half of 2019. This is evidenced by a decline in revenues of 41% to £10.6m and a loss before tax of £0.2m. Net cash also declined from £34m at December 2018 to £14.7m reflecting the reduced trading, the payment of the 2018 bonus and dividend, and a share buy-back programme. On the upside we note that the second half has ‘started well…with an encouraging pipeline’. In addition, the interim dividend was maintained at 2p, the regulatory capital surplus was £15.9m and we expect the net cash to improve to £25m by the year end. Despite the tough environment and the fact that we are revising our full year revenue and PBT forecast from £47m and £5m to £35m and £1.3m, we maintain our view that Cenkos has a flexible and strong business model (110 clients), and is attractive to income investors. With the shares close to historical lows, a dividend yield of 9% supports our BUY recommendation and revised price target of 80p.

Companies: Cenkos Securities