Barclays (BARC: GBX218.15) in top 4% performers of FTSE 100 Index, announces buyback of shares; +GBX7.40 [3.5%] 03 July 2024

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Barclays PLC's (L: BARC GBX218.15) stock price gained GBX7.40 (3.5%) from its previous trading session to close at GBX218.15.

Barclays PLC is the 3rd largest Bank by market cap in the United Kingdom.

This makes it the fourth highest performer in the FTSE 100 Index of 93 stocks which was up 0.6% on Wednesday, a relative price increase of 3.0%.

There were 48,000,000 shares worth GBP104.7 million ($132.7 million) traded today. The volume was 0.9 times the average daily trading volume of 50.9 million shares.

BARCLAYS (BARC) Stock Dashboard [traded in British Pound, GBP] End-of-Day Wed, Jul 03

http://www.barclays.com

LastGBX218.15Market CapGBP32 billion [US$41 billion]
P/E7.9Dividend Yield % (TTM)3.7
EPS (FY2023)0.28 GBXDPS (past 12 months)GBX8
Shares Outstanding14,840,000,000ExchangeUNITED KINGDOM [CHI-X (UK), London]
BARC in IndicesFTSE 100SectorBank [of 19 stocks]
EPS Growth (Q1 2024 vs Q1 2023)-8.8Today's VI*0.9
Today's Volume48,000,000Currency1.000 GBP = 1.268 USD
Ave Daily Volume50,935,792 sharesPV$1000 (1 yr)GBX1,550
US$1,547
52-Week Price Range124.31 - 224.25

Primary Exchange and Other Listings: Trading Currency and Volume (Excl ADR)

ExchangeTickerCurrencyLastADVTVol % of TotalToday's VI
LondonBARCGBX218.1550,935,79196.80.9
XetraBCYEUR2.51749,1383.12.1
Total100.00

1 GBX [Pence Sterling]= 0.0118 EUR

ADVT= Avg. Daily Volume of Trading; VI= Volume Index (1 is avg)

INDEX

SECTION 1 CORPORATE PROFILE

SECTION 2 RECENT NEWS AND RESEARCH

SECTION 3 THE PAST YEAR: PRESS RELEASES

SECTION 4 TODAY'S BULLISH SIGNALS

SECTION 5 ONGOING BULLISH PARAMETERS

SECTION 6 TODAY'S BEARISH SIGNALS

SECTION 7 ONGOING BEARISH PARAMETERS

SECTION 8 BANK METRICS

SECTION 9 DIVIDEND

SECTION 10 BOARD OF DIRECTORS

SECTION 11 BARCLAYS PREFERRED SHARES

Read more...

ANNEXURE

APPENDIX I DATA & ARCHIVE DOWNLOAD CENTER

APPENDIX II STOCK IDENTIFIERS

GLOSSARY

SECTION 1 CORPORATE PROFILE

1.1 Activities

Barclays PLC provides various financial products and services in Europe, the United States, Africa, and Asia. It offers retail and commercial banking, credit cards, investment banking, wealth management, and investment management services. The companys products include current account and savings products, Woolwich branded mortgages, unsecured loans, protection products, general insurance, credit cards, Sharia-compliant products, installment finance and commercial property finance, commercial loans, and personal loans. It also offers money transmission, international and private banking, investment management, fiduciary, and brokerage services, as well as payment solutions and mobile banking services. In addition, the company provides fixed income, currency and commodities, foreign exchange, emerging markets, money markets, and credit services; equities, which include cash and equity derivatives and prime services; investment banking products and services that comprise financial advisory, and equity and debt underwriting; and advisory services. It serves individual, commercial, corporate, institutional, retail, and mass affluent customers. The company was formerly known as Barclays Bank Limited and changed its name to Barclays PLC in January 1985. Barclays PLC was founded in 1896 and is headquartered in London, the United Kingdom. It is 3rd largest Bank by market capitalisation in the United Kingdom,

1.2 Contact Details

Websitehttp://www.barclays.com
Physical Address1 Churchill Place, Canary Wharf, London, E14 5HP, United Kingdom
Phone44-20-71161000
Fax44-20-71167665

1.3 Industry & Sector [of 609 stocks]

Classification LevelName of Sector
Industry GroupBanking Services
IndustryBanks
Economic SectorFinancials
Business SectorBanking & Investment Services

SECTION 2 RECENT NEWS AND RESEARCH

BUYBACK OF SHARES

Barclays announced a buyback of 5,148,668 shares worth GBP10,904,287 (or $13,822,274) on July 02. The buyback price was GBX211.79.

Financial News

Quarterly Report (Q1/2024):

Release Date: May 30, 2024

Quarterly Report Analysis Q1 2024: Barclays reports Net Profit of GBP1.8b ($2.3b)

Barclays (L:BARC) announced net profit for the quarter-ended 31 March 2024 [Q1/2024] of GBP1.8b ($2.3b).

Quarterly Report

March 312024202320242023Change
DescriptionGBP mGBP m$ m$ m(%)
EBIT2,2772,5982,874.83,213.3Down 12.4
Pre Tax Profit/(Loss)2,2772,5982,874.83,213.3Down 12.4
Profit/(Loss) after Tax1,8092,0292,283.92,509.5Down 10.8
Cash and cash equivalents388,734333,523490,791.1412,509Up 16.6
Net Assets72,34071,86491,331.988,883.1Steady

Reported buyback transactions [TTM]
PeriodNo. of sharesWeighted Average price, GBXValue, GBX
Jul 249,456,668212.072,005,519,816
Jun 2461,811,766210.0512,983,293,703
May 2481,385,242201.4216,392,604,470
Apr 2460,052,152189.9411,406,387,142
Mar 2480,724,05417714,288,208,403
Feb 2418,646,737164.963,075,916,510
Oct 23123,998,307153.519,034,270,908
Sep 23104,649,456153.516,064,071,403
Aug 23155,621,788147.1422,897,973,069
Jul 2314,184,045155.72,208,435,717
Total710,530,215

Net reported buyback transactions: since July 2023: Bought 710,530,215 shares at an average price of GBX3 worth GBP20,055,198.16.

VI* Volume Index = Number of shares traded today/Average number of shares traded per day.

Past quarter momentum up: Barclays soars 16% on average volume 1.1 times average.

Past month to HighLowVWAPVolume Index *
03 Jul 2024224.25197.68208.991.1
03 Jun 2024224.25198.84215.281.0
03 May 2024207.45176.24192.331.3

[*Volume Index of 1.1 means volume for the month was 1.1 times its 12-month average]

[VWAP is defined as the Volume Weighted Average Price; High Low prices and VWAP are shown in Great Britain Pound]

SECTION 3 THE PAST YEAR: PRESS RELEASES

3.1 Insider Selling

Source: WEC

Wed May 01, 2024

Barclays group head of public policy & corporate responsibility Sasha Wiggins sells shares worth GBP154,350

Tuesday April 30, 2024

Barclays (L:BARC) Group Head of Public Policy & Corporate Responsibility Sasha Wiggins sold 75,000 shares worth GBP154,350 ($193,729) on April 29. The selling price was GBP2.06.

Tue Apr 30, 2024

Barclays group chief operating officer and chief executive, bx Alistair Currie sells shares worth GBP508,750

Monday April 29, 2024

Barclays (L:BARC) Group Chief Operating Officer and Chief Executive and BX Alistair Currie sold 250,000 shares worth GBP508,750 ($636,777) on April 25. The selling price was GBP2.04.

SECTION 4 TODAY'S BULLISH SIGNALS

4.1 Relative Value Indicators: Undervaluation compared with sector averages

Price/Earnings:

Barclays stock is trading at the ninth lowest P/E multiple in the FTSE 100 Index.

4.2 Relative Value Indicators: Undervaluation compared with Index averages and bond yield

- Earnings yield of 12.7% is more attractive compared with the United Kingdom average earning yield of 5.6%.

- The earnings yield of 12.7% is 3.0 times the 10-year bond yield of 4.3%.

(All figures in %)

Earnings Yield12.7
United Kingdom avg5.6
Dividend Yield3.7
Bond Yield4.3

Dividend Yield > 2/3rd Bond Yield:

The dividend yield of 3.67% is 0.86 times the triple-A bond yield of 4.25%; it is also above the benchmark of 2/3rd set by Benjamin Graham.

(All figures in %)

Dividend Yield3.67
Bond Yield4.25
Spread0.58

SectorP/EDividend Yield %
Forbes 2000Stock: 7.9; Sector: 20.8Stock: 3.7; Sector: 0.8undervalued

4.3 PAST WEEK: WEAK MOMENTUM UP

BARC adds 6.0% on below average volume 0.9 times average. Compared with the FTSE 100 Index which fell 65.9 points (or 0.8%) in the week, the relative price increase was 6.6%.

Barclays (BARC) outperformed the FTSE 100 Index in 3 out of 5 days. The price ranged between a high of GBP218.15 on Wednesday Jul 03 and a low of GBP208.90 on Friday Jun 28.

DateBarclaysClose [GBP]Change %Comment
Wed Jul 03In top 4% performers of FTSE 100 Index218.153.5Top Rise; RPC=3.0%
Tue Jul 02Drops 1.1% on slipping relative strength210.75-1.1Steepest Fall
Mon Jul 01Climbs 2.1% strengthening above moving average price213.22.1Price/MAP50 above 1 and rising; RPC=2.0%
Fri Jun 28Offers earnings yield of 13.4%208.9-0.4Price/MAP200 above 1 and rising
Thu Jun 27In top 4% performers of FTSE 100 Index209.751.9Price/MAP50 above 1 and rising; RPC=2.4%

* RPC - Relative Price Change is % price change of stock less % change of the FTSE 100 Index.

4.4 Rank in the top 18% by Relative Valuation in the United Kingdom market

DescriptionValueRank
P/E * P/NTA4.02In Top 15%
Price to Book Value0.5In Top 18%

4.5 Rank in the top 24% by Price Performance in the United Kingdom market

DescriptionValueRank
Rel Strength 6 mo93In Top 8%
1-week Price Change %6.0In Top 11%
PV1000 [1 yr] $1,547In Top 13%
Price/MAP501.04In Top 24%

4.6 Uptrend

Beta > 1 combined with price rise. The Beta of the stock is 1.8.

Price/Moving Average Price of 1.31 and positive MACD:

- The Price/MAP 200 for Barclays is 1.31. Being higher than 1 is a bullish indicator. It is higher than the Price/MAP 200 for the FTSE 100 Index of 1.05, a second bullish indicator. The stock is trading above both its MAPs and the 50-day MAP of GBX210.18 is higher than the 200-day MAP of GBX166.19, a third bullish indicator. The 200-day MAP has increased to GBX166.19, a fourth bullish indicator.

- The Moving Average Convergence Divergence (MACD) indicator of 12-day Exponential Moving Average (EMA) of 210.49 minus the 26-day EMA of 209.76 is positive, suggesting a bullish signal. Both the 12-day EMA as well as the 26-day EMA are rising, another bullish signal.

- The price to 50-day EMAP ratio is 1.1, a bullish indicator. In the past 50 days this ratio has exceeded 1.1, 32 times suggesting further upside. The 50-day EMAP has increased to GBX205.54. An increase is another bullish indicator.

Past Quarter:

- In the last three months the stock has hit a new 52-week high fourteen times, pointing to a significant uptrend.

Relative Strength (6 months) 93 percentile:

- The stock has a 6-month relative strength of 93 in the United Kingdom market of 1,094 stocks, 72 ADRs and 13 preference stocks which means it is beating 93% of the market.

- A price rise combined with a high relative strength is a bullish signal.

4.7 Other Bullish Signals

- Net profit margin has averaged 25.7% in the last 3 years. This is considered superior and suggests a high margin of safety.

SECTION 5 ONGOING BULLISH PARAMETERS

5.1 Past two-years

- The shares rose GBX8.39 (6.0%) a year ago which accelerated to GBX70.15 (47.4%) in the past year.

- Barclays rose for a second consecutive year. In the previous year the shares rose GBX8.39 (6.0%).

5.2 Rank in the top 98% by Liquidity in the United Kingdom market

DescriptionValueRank
Ave daily turnoverGBP77 million ($97 million)In top 98%

5.3 Present Value of GBP1000 Invested in the Past [3 Mo, 1 Yr, 3 Yrs]; The Best Periods with PVGBP1000 > 1,156

PVGBP1,0003 mo ago1 yr ago3 yrs ago
BARC.LGBP1,157GBP1,550GBP1,640
Bank sectorGBP996GBP478GBP675
FTSE 100 IndexGBP1,028GBP1,086GBP1,147

5.4 The Best Periods [3 Mo, 1 Yr, 3 Yrs] with Price Change % > 15.6

3-Year price change of 43.6% for Barclays outperformed the change of 14.7% in the FTSE 100 Index for a relative price change of 28.9%.

Price Change %QuarterYear3 Years
Barclays15.747.443.6
Bank sector-0.3-51.6-32.5
FTSE 100 Index2.58.514.7

5.5 MCap: 5-Year Increase of GBP6 B [$74M] (22%)

In the past 5 years Market Capitalization has increased by GBP5.9 billion (22%) from GBP26.5 billion to GBP32.4 billion. Based on a dynamic start date of 5 years ago, there have been declines in MCap in 2 out of 5 years.

PriceMCap (GBP B)MCap ($ B)
LastGBX218.1532.441
1 Year agoGBX148.024.431
2 Years agoGBX139.6125.330.8
3 Years agoGBX151.8829.340.4
4 Years agoGBX34.8020.725.8
5 Years agoGBX43.9826.533.5

5.6 BARC.L Annualised Period-based Total Shareholder Returns [TSR %]: The Best Periods with TSR > 5.2%

1 yr3 yrs5 yrs10 yrs20 yrs30 yrs
5517.742.3175.37.9

5.7 Increased VWAP, up 324% in 5 years

In the past five years Volume Weighted Average Price (VWAP) has increased by 323.8% to GBX165.03.

Past five years, 12 months ended Jul 03 (GBX)

YearHigh PriceVWAPLow Price
2024224.25165.03124.31
2023178.39147.01121.89
2022195.6155.59127.64
2021165.6844.5425.95
202056.3338.9421.32

5.8 Increased share turnover, up 12% in 5 years

In the past five years, average daily share turnover has increased 12.0% to GBX7.8 billion ($98.5 million). This suggests increased liquidity.

Past five years, 12 months ended Jul 03 (GBP million)

YearAverage Daily Turnover
202477.7
202365.2
202255.6
202159.7
202069.4

5.9 Satisfies one criterion of Benjamin Graham

- The P/E of 7.9 multiplied by the P/NTA of 0.5 is 4.0. Being less than the Benjamin Graham benchmark of 22.5 the stock appears undervalued.

5.10 Year-over-year (%) Change in Dividend:

Final dividend for FY 2023 was GBP5.30. The year-on-year change was up 6.0% from GBP5.0 in the previous year FY 2022.

FinalFY 2022FY 2023
Dividend (GBX)5.05.3

SECTION 6 TODAY'S BEARISH SIGNALS

Price/Earnings of 7.9 > Bank sector (of 19 stocks) avg of 6.1:

- The price-to-earnings ratio of 7.9 indicates overvaluation compared with sector average of 6.1.

6.1 Downtrend

Past Quarter:

The Worst 3 weeks in the past quarter

The past month witnessed the worst 2 weeks in the past quarter. In the past quarter the steepest fall of 7.0% took place in the week beginning Monday June 10. The fall was exacerbated by volume of 1.3 times average.

Mon-FriChange %FTSE 100 Index Change %Vol Ind [1 is avg]
Jun 10-14-7-1.21.3
Apr 08-12-3.61.11.2
Jun 03-07-1.2-0.41

6.2 Other Bearish Signals

- Return on Equity of 7.4% versus sector average of 10.7% and market average of 8.8%.

- As per the Du Pont analysis, Return on Equity is less than stellar at 7.4%. This is computed as net profit margin of 21.0% times asset turnover [sales/assets] of 0.02 times leverage factor [total assets/shareholders' equity] of 20.6.Also, this has deteriorated from 8.6% last year.

ROE (%)Profit Margin (%)Asset TurnoverLeverage factor
Current Year7.421.00.0220.6
Previous Year8.623.90.0221.9

SECTION 7 ONGOING BEARISH PARAMETERS

7.1 A 93.1% Increase in Insider Selling

In the past 5 years a total of 11,247,987 Barclays shares worth GBP18.9 million were sold by insiders. Based on a dynamic start date of 5 years ago, insider selling has averaged 2,249,597 shares per year. In the past year, insiders sold 3,748,016 shares, an increase of 93.1% from the previous year.

YearNo. of SharesValue, GBP
Jul 03, 20243,748,0166,373,635
1 Yr ago1,940,7362,985,554
2 Yrs ago1,007,5691,919,901
3 Yrs ago3,905,9546,784,285
4 Yrs ago645,712808,620
Total11,247,98718,871,994

7.2 Declining Volume, down 13% in 5 years

In the past five years, Average Daily Volume of Trading (ADVT) has decreased 13.3% to 50.9 million shares.

Avg. Daily Volume Traded 12 months ended Jul 03, million shares

YearADVT
202450.9
202344.6
202235.7
202146.1
202058.7

7.3 Satisfies 1 out of 9 criterion of Joseph Piotroski [pass mark 5]:

- Positive net income.

But does not meet the following 8 criteria of Joseph Piotroski:

- Positive operating cashflow.

- Return on Assets improvement.

- Good quality of earnings [operating cashflow exceeds net income].

- Improvement in long-term debt to total assets.

- Improvement in current ratio.

- Total shares on issue unchanged (or reduction in total shares on issue).

- Improvement in gross margin.

- Improvement in asset turnover.

SECTION 8 BANK METRICS

8.1 Bank Metrics (FY2023)

DescriptionFY2023FY2022Change
Interest Income35.1 B19.1 BUp 83.7%
Interest Expense22.4 B8.5 BUp 162.4%
Net Interest Income12.7 B10.6 BUp 20.2%
Total Non Interest Expense16.9 B16.7 BUp 1.2%
Bank Other Revenue134 M170 MDown 21.2%

Favourable Changes:

- Interest Income up 83.7% from GBP19.1b to GBP35.1b

- Net Interest Income up 20.2% from GBP10.6b to GBP12.7b

Unfavourable Changes:

- Interest Expense up 162.4% from GBP8.5b to GBP22.4b

- Total Non Interest Expense up 1.2% from GBP16.7b to GBP16.9b

- Bank Other Revenue down 21.2% from GBP170m to GBP134m

SECTION 9 DIVIDEND

9.1 Dividend History

In the past 5 years annual dividends have increased by GBX7.0 from GBX1.0 to GBX8.0. Based on a start date of 5 years ago, there has been one decline in dividends over the last 5 years.

Date PaidValue (GBP)Type
29 Feb 20245.3Final
10 Aug 20232.7Interim
Tr 12 Months8
2022 - 20237.25
2021 - 20226
2020 - 20210.33
2019 - 20201

SECTION 10 BOARD OF DIRECTORS

10.1 Board Of Directors

Board Of Directors [Twelve directors with tenure > 7 yrs]

NameDesignationSince Appointment
Mary FrancisNon-Executive Director7 Yrs, 9 Mos
Tim BreedonNon-Executive Independent Director11 Yrs, 8 Mos
John KingmanNon-Executive Director-
Crawford GilliesNon-Executive Independent Director-
Diane SchuenemanNon-Executive Independent Director-
Mohamed A. El-ErianNon-Executive Independent Director-
Dawn FitzpatrickNon-Executive Independent Director-
Brian GilvaryNon-Executive Independent Director-
Julia Susan WilsonNon-Executive Independent Director-
Marc M. MosesNon-Executive Independent Director-
Michael St John AshleyNon-Executive Independent Director-
Robert BerryNon-Executive Independent Director-

SECTION 11 BARCLAYS PREFERRED SHARES

11.1 Preferred Series

SymbolPreferreds Name
BB50Barclays Bank PLC

11.2 PV$1000 Comparison of Barclays Preferred Shares & Indices

PV$10001-week1-month1-year
BARC.L1,0609921,550

APPENDIX I DATA & ARCHIVE DOWNLOAD CENTER

BARC: EXPORT DATA TO EXCEL:

+ PRICE VOLUME - 5-YEAR HISTORY

+ PEER COMPARISON

BARC: OTHER INFORMATION:

+ NEWS ARCHIVES - BARC PAST 4 YEARS:

+ PRICE VOLUME CHARTS

+ INSIDER BUYING IN THE PAST 10 YEARS

+ BOARD OF DIRECTORS

APPENDIX II STOCK IDENTIFIERS

ISIN: GB0031348658

PermID: 4297546630

CUSIP: G08036124

RIC: BARC.L

LEI: 213800LBQA1Y9L22JB70

GLOSSARY

ADVT: Average Daily Volume of shares Traded

Annual Return: Dividends Paid In a 12-Month Period/Price at the Beginning of the Period + Capital Gain or Loss over 1 Year/Price 1 Year Ago (%)

Current Ratio: Current Assets/Current Liabilities (times)

Dividend Yield: Dividend Per Share/Share Price (%)

Earnings Yield: Earnings Per Share/Share Price (%)

Income during the n years (3/2/1): Dividends received during the Period

Moving Average Price (n periods): Sum of Prices for each Period/Number of Periods

PV1000: Present value of 1000 invested 1 year/'n' years ago

Price Close/Moving Avg Price: Latest Price/Moving Average Price

Price/Earnings: Share Price/Earnings Per Share (times)

Price/NTA: Closing Share Price/Net Tangible Assets Per Share (times)

Relative Price Change [RPC]: Relative price change is price change of stock with respect to Benchmark Index

Relative Strength (6 Months): Price close today/Price close 6 months ago, then ranked by percentile within the entire market.

Return on Assets: Net Profit/Total Assets (%)

Return on Equity (Shareholders' Funds): Net Profit/Net Assets (%)

TSR: Total Shareholder Returns is expressed as an annualized rate of return for shareholders after allowing for capital appreciation and dividend

TTM: Trailing 12 Months

Volume Index (VI): Number of shares traded in the period/Average number of shares traded for the period

Volume Weighted Average Price (VWAP): The Volume Weighted Average Price (VWAP) is the summation of turnover divided by total volume in the same period.

Disclaimer: While this document is based on information sources which are considered reliable, it has been prepared without consideration of your specific investment objectives, financial situation or needs, so you should carry out your own analysis or seek professional investment advice before an investment decision is made. The document contains unbiased, independent equities data and analysis from Jupiter International (Australia) Pty Ltd trading as BuySellSignals (AFS Licence 222756), who provide round the clock analysis on every stock, every sector, every market, every day. BuySellSignals is not a broker, and does not have executing, corporate advisory or investment banking functions. Jupiter International (Australia) Pty Ltd, its directors, employees and contractors do not represent, warrant or guarantee, expressly or impliedly, that the information contained in this document is complete or accurate.

Data for the BuySellSignals algorithms is drawn from annual reports, company websites and similar sources of publicly available data. It should be used as a guide only.

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