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Barclays
(LSE:BARC)
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Rating:64Neutral
Price Target:
449.00 p
▼(-9.52% Downside)
Action:Downgraded
Date:10/22/26
The score is driven primarily by a solid but risk-tilted financial profile (profitability and improved cash generation offset by higher leverage and softer 2025 revenue). Valuation is a clear positive with a low P/E and moderate yield, while the latest earnings call supports the outlook via reiterated RoTE/income targets and ongoing distributions despite cost and credit-charge headwinds. Technicals are the main drag, with the stock below major moving averages and negative MACD, even though momentum indicators look oversold.
Positive Factors
Diversified recurring income
Growing stable income streams that now cover more than total group costs provide a stronger earnings base across market cycles. This diversification can reduce reliance on volatile trading or transaction fees and support more predictable profitability over the next several quarters.
Negative Factors
High and rising leverage
Leverage of roughly 2.8 times equity, combined with a rising trend, increases the balance sheet’s sensitivity to credit losses, funding pressure, and tighter financial conditions. It can also constrain capital allocation if stress rises across Barclays’ lending and markets businesses.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified recurring income
Growing stable income streams that now cover more than total group costs provide a stronger earnings base across market cycles. This diversification can reduce reliance on volatile trading or transaction fees and support more predictable profitability over the next several quarters.
Read all positive factors
Barclays (BARC) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£56.13B
Dividend Yield2.72%
Average Volume (3M)47.57M
Price to Earnings (P/E)8.3
Beta (1Y)1.68
Revenue Growth6.60%
EPS Growth23.56%
CountryUK
Employees93,000
SectorFinancial
Sector Strength70
IndustryBanks - Diversified
Share Statistics
EPS (TTM)0.49
Shares Outstanding13,319,141,000
10 Day Avg. Volume52,888,602
30 Day Avg. Volume47,567,724
Financial Highlights & Ratios
PEG Ratio0.49
Price to Book (P/B)0.86
Price to Sales (P/S)1.32
P/FCF Ratio3.98
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£580.50Price Target Upside16.98% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering10
EPS Forecast (FY)0.52
Revenue Forecast (FY)£31.32B
Barclays Business Overview & Revenue Model
Company Description
Barclays PLC, a global financial services provider operating through its subsidiaries, delivers a comprehensive array of financial products and services across the United Kingdom, Europe, the Americas, Africa, the Middle East, and Asia. The instit...
How the Company Makes Money
Barclays makes money primarily by earning net interest income and fee/commission-based income across its banking and markets activities.
1) Net interest income (spread-based banking): A core earnings driver is the spread between interest earned o...
Barclays Earnings Call Summary
Earnings Call Date:Oct 22, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Feb 09, 2027
Earnings Call Sentiment Positive
The call was predominantly positive. Barclays reported strong profit, EPS, RoTE, capital generation, shareholder distributions, U.K. franchise growth, equities performance, and progress on technology-enabled efficiency. Management reiterated its major financial targets and expressed confidence in the plan. The main challenges were weaker FICC intermediation, Q3 income below expectations, higher restructuring and investment costs, U.S. Consumer Bank pricing and cost headwinds, deposit competition, and expected higher Q4 credit charges. These concerns were acknowledged but did not outweigh the breadth of reported operational and financial progress.Positive Updates
Q3 Profit and Return Growth
Group income was GBP 7.4 billion, up 3% year-on-year. Profit before tax increased 12% to GBP 2.3 billion, while RoTE was 11.7% in Q3 and 13.8% year-to-date. Barclays remains confident of achieving its group RoTE target of greater than 12% for 2026, having achieved 12.4% over the last 12 months.
Negative Updates
Weak Fixed Income Intermediation
Management described fixed income intermediation results as somewhat disappointing. Client activity in rates and credit weakened in the second half of the quarter, with further adversity in September due to macro movements. The weakness was concentrated in parts of European rates and credit rather than across the entire fixed income business.
Read all updates
Q3-2026 Updates
Positive
Negative
Q3 Profit and Return Growth
Group income was GBP 7.4 billion, up 3% year-on-year. Profit before tax increased 12% to GBP 2.3 billion, while RoTE was 11.7% in Q3 and 13.8% year-to-date. Barclays remains confident of achieving its group RoTE target of greater than 12% for 2026, having achieved 12.4% over the last 12 months.
Read all positive updates
Company Guidance
Barclays expects circa GBP 31.5 billion of group income in 2026, implying full year growth of circa 8% versus the more than 5% CAGR target to 2028, with 7% year-on-year group NII growth in Q3, circa GBP 18.5 billion of 2026 costs and a high 50s cost-income ratio; it expects greater than 12% group RoTE in 2026, circa 12% Investment Bank RoTE and circa 12% US Consumer Bank RoTE excluding the AA gain on sale, full year loan loss rates of circa 550 basis points, Barclays UK loan losses to normalize towards circa 30 basis points in Q4, and Barclays UK full year NII around the middle of the GBP 8.1 billion-GBP 8.3 billion range. For 2027, run the bank costs are expected to be flat or lower versus 2026, statutory costs are expected to fall to circa GBP 18.4 billion, planned additional investment is GBP 0.4 billion, gross efficiency savings are expected to exceed GBP 1.1 billion, with an expected reduction of circa 5,000 full-time employees, and Barclays UK expects a high 40s cost-to-income ratio; for 2028, the group expects modest cost growth, positive operating jaws, a low 50s cost-income ratio, a greater than 5% revenue CAGR from 2025 to 2028 and RoTE greater than 14%, while Barclays UK expects costs below the 2025 level and a mid-40s cost-to-income ratio. Capital is expected to operate around the top of the 13%-14% CET1 ratio range, Basel 3.1 is expected to increase RWAs by GBP 8 billion-GBP 15 billion, equivalent to 30-55 basis points of CET1, and capital generation is expected to exceed 230 basis points in 2028.Barclays Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
58
Neutral
Cash Flow
64
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 30.62B | 50.83B | 51.62B | 47.75B | 33.55B | 25.12B |
| Gross Profit | 30.09B | 29.14B | 26.23B | 25.38B | 25.02B | 21.95B |
| EBITDA | 12.35B | 10.89B | 9.81B | 8.34B | 8.80B | 9.87B |
| Net Income | 7.84B | 7.17B | 6.31B | 5.26B | 5.93B | 7.01B |
Balance Sheet | ||||||
| Total Assets | 1.73T | 1.54T | 1.52T | 1.48T | 1.51T | 1.38T |
| Cash, Cash Equivalents and Short-Term Investments | 455.96B | 407.56B | 509.67B | 538.31B | 542.42B | 521.33B |
| Total Debt | 137.94B | 219.94B | 185.75B | 176.55B | 183.37B | 166.59B |
| Total Liabilities | 1.65T | 1.47T | 1.45T | 1.41T | 1.44T | 1.31T |
| Stockholders Equity | 79.36B | 77.78B | 71.82B | 71.20B | 68.29B | 69.05B |
Cash Flow | ||||||
| Free Cash Flow | 47.32B | 16.88B | 5.54B | -2.65B | 28.48B | 47.20B |
| Operating Cash Flow | 49.17B | 18.74B | 7.11B | -927.00M | 30.23B | 48.92B |
| Investing Cash Flow | -9.39B | 1.59B | -17.89B | -23.41B | -21.67B | 4.27B |
| Financing Cash Flow | 1.13B | 2.26B | 784.00M | -1.39B | 696.00M | 107.00M |
Barclays Technical Analysis
Negative
496.25
Price Trends
461.88
Negative
482.98
Negative
459.17
Negative
Market Momentum
-13.66
Negative
39.12
Neutral
15.80
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:BARC, the sentiment is Negative. The current price of 496.25 is above the 20-day moving average (MA) of 430.26, above the 50-day MA of 461.88, and above the 200-day MA of 459.17, indicating a bearish trend. The MACD of -13.66 indicates Negative momentum. The RSI at 39.12 is Neutral, neither overbought nor oversold. The STOCH value of 15.80 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:BARC.
Barclays Risk Analysis
Barclays disclosed 18 risk factors in its most recent earnings report. Barclays reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Barclays Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | £50.17B | 6.68 | 16.16% | 5.52% | 2.78% | 24.91% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | £221.28B | 12.19 | 13.03% | 4.31% | -7.93% | 35.55% | |
66 Neutral | £11.41B | 7.96 | 13.45% | 6.28% | -3.55% | 5.64% | |
66 Neutral | £58.45B | 12.67 | 11.05% | 3.93% | -16.61% | 21.26% | |
64 Neutral | £56.13B | 8.34 | 10.79% | 2.72% | 6.60% | 23.56% | |
59 Neutral | £43.74B | 12.50 | 10.35% | 2.55% | -12.87% | 12.23% |
* Financial Sector Average
GB:BARC
Barclays
422.05
26.73
6.76%
GB:STAN
Standard Chartered
2,019.00
562.79
38.65%
GB:HSBA
HSBC Holdings
1,291.40
286.69
28.53%
GB:INVP
Investec
613.00
58.59
10.57%
GB:LLOY
Lloyds Banking
102.15
17.54
20.73%
GB:NWG
NatWest Group
634.40
84.68
15.40%
Barclays Corporate Events
Business Operations and StrategyStock BuybackFinancial Disclosures
Barclays Posts Solid Q3 2026 Returns and Launches £500m Buyback
Positive
Oct 22, 2026
Barclays reported a return on tangible equity of 11.7% for the third quarter of 2026 and 13.8% year-to-date, supported by income of £7.4bn, underscoring continued operational and financial momentum. The bank also announced a £500m share ...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Barclays Advances Share Buy-back, Cutting Outstanding Share Capital
Positive
Oct 19, 2026
Barclays PLC is a major UK-based universal bank, providing retail and commercial banking, credit cards, investment banking, and wealth management services. Listed on the London Stock Exchange, it focuses on both domestic and international markets,...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Barclays Tightens Share Count as Buy-Back Programme Advances
Positive
Oct 12, 2026
Barclays PLC has continued its share buy-back programme by purchasing and cancelling more than 15.8 million ordinary shares between 5 and 9 October 2026 on the London Stock Exchange, at prices broadly in the mid-400 pence range. Following these tr...
Business Operations and Strategy
Barclays Adds Goldman Sachs as Joint Corporate Broker
Positive
Oct 9, 2026
Barclays PLC has appointed Goldman Sachs International as a joint corporate broker, effective immediately, to work alongside its existing broker J.P. Morgan Securities plc. The move underscores Barclays’ focus on strengthening its capital ma...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Barclays tightens share base as buy-back tops 145 million shares
Positive
Oct 5, 2026
Barclays PLC has continued its share buy-back programme by repurchasing and cancelling more than 16 million ordinary shares between 28 September and 2 October 2026 on the London Stock Exchange. The bank executed these purchases through Citigroup G...
Business Operations and StrategyDelistings and Listing Changes
Barclays Seeks Admission of 40 Million New Shares for Employee Plans
Neutral
Sep 28, 2026
Barclays PLC has applied to the London Stock Exchange for the admission of 40 million new ordinary shares of 25 pence each to trading on the main market for listed securities. The new shares will be issued under the Barclays Group SAYE Share Optio...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Barclays Cuts Share Count Further as Buy-Back Tops 129 Million Shares
Positive
Sep 28, 2026
Barclays has repurchased and cancelled a further 18 million-plus ordinary shares over five trading days in September as part of its ongoing share buy-back programme. The latest purchases, executed via Citigroup on the London Stock Exchange, were m...
Business Operations and StrategyExecutive/Board Changes
Barclays Strengthens Board Nominations Committees With New Appointment
Positive
Sep 24, 2026
Barclays has announced a governance change with Non-Executive Director Mary Mack joining the Board Nominations Committees of both Barclays PLC and Barclays Bank PLC, effective 23 September 2026. The appointment adds further experience to the key b...
DividendsRegulatory Filings and Compliance
Barclays Executives Boost Holdings Through Dividend Reinvestment
Positive
Sep 24, 2026
Barclays PLC has disclosed share transactions involving senior executives under regulatory rules governing persons discharging managerial responsibilities. Group Finance Director Anna Cross received 91 ordinary shares through the reinvestment of t...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Barclays Advances Share Buy-Back, Cuts Share Count and Voting Base
Positive
Sep 21, 2026
Barclays PLC has continued its previously announced share buy-back, purchasing a series of tranches of ordinary shares on the London Stock Exchange from Citigroup Global Markets over the period 14–18 September 2026. The bank intends to cance...
Regulatory Filings and Compliance
Barclays CEO Venkatakrishnan Discloses Transfer of ADS Holdings
Neutral
Sep 18, 2026
Barclays has disclosed transactions in its American Depositary Shares involving group chief executive C.S. Venkatakrishnan, in line with regulatory requirements for persons discharging managerial responsibilities. The ADSs, each representing four ...
Stock BuybackRegulatory Filings and Compliance
Barclays Advances Share Buy-Back, Cuts Share Count to 13.4 Billion
Positive
Sep 14, 2026
Barclays has continued its previously announced share buy-back programme, repurchasing and cancelling more than 14 million ordinary shares over five trading days in early September at volume-weighted average prices just below 500p. The move reduce...
Regulatory Filings and Compliance
Barclays Reports Share Dealings by Senior Executives
Neutral
Sep 11, 2026
Barclays has disclosed share transactions involving two senior executives, in line with regulatory requirements for persons discharging managerial responsibilities. Group Co-Chief Operating Officer and Barclays Execution Services Co-Chief Executiv...
Regulatory Filings and Compliance
Barclays Discloses Executive Disposal of Shares on London Stock Exchange
Neutral
Sep 9, 2026
Barclays has disclosed a share transaction involving Group Co-Chief Operating Officer and Barclays Execution Services Co-Chief Executive Officer Craig Bright. On 9 September 2026, 65,500 ordinary shares in Barclays PLC were disposed of via Compute...
Regulatory Filings and Compliance
Barclays Discloses Internal Share Transfers Involving Group Chief Executive
Positive
Sep 8, 2026
Barclays PLC has disclosed equity transactions involving its Group Chief Executive, C.S. Venkatakrishnan, and a person closely associated with him, P. Venkatakrishnan, in line with regulatory requirements for senior management dealings. The notifi...
Stock BuybackFinancial Disclosures
Barclays Cancels Further Shares as Buy-Back Shrinks Equity Base
Positive
Sep 7, 2026
Barclays has continued executing its previously announced share buy-back programme, purchasing and cancelling a total of 12,914,824 ordinary shares between 1 and 4 September on the London Stock Exchange via Citigroup Global Markets. The transactio...
Business Operations and StrategyDelistings and Listing ChangesRegulatory Filings and Compliance
Barclays Increases Listed Share Capital With New LSE Admission
Neutral
Sep 1, 2026
Barclays PLC has admitted an additional 1,262,738 ordinary shares to trading on the Main Market of the London Stock Exchange, bringing the total number of shares in issue and admitted to trading to 13,441,073,778. The newly issued shares are fungi...
Regulatory Filings and Compliance
Barclays Updates Market on Total Voting Rights and Share Capital
Neutral
Sep 1, 2026
Barclays PLC reported that, as of 31 August 2026, its issued share capital comprises 13,441,073,778 ordinary shares carrying voting rights, with no ordinary shares held in treasury. This disclosure provides the new denominator for investors and ot...
Stock Buyback
Barclays Cancels Fresh Tranche of Shares as Buy-back Tops 68 Million
Positive
Sep 1, 2026
Barclays PLC has continued executing its previously announced share buy-back programme, repurchasing and cancelling more than 14.8 million ordinary shares over five trading days in late August at prices around 490p–502p per share. The bank p...
Stock BuybackRegulatory Filings and Compliance
Barclays shrinks share capital with latest buyback tranche
Positive
Aug 24, 2026
Barclays has continued its previously announced share buyback programme, repurchasing and cancelling more than 16.7 million ordinary shares between 17 and 21 August 2026 on the London Stock Exchange via Citigroup Global Markets. Following these la...
Business Operations and StrategyRegulatory Filings and Compliance
Barclays CEO Gifts Over 200,000 Shares to Charitable Causes
Positive
Aug 19, 2026
Barclays PLC has disclosed a share transaction involving Group Chief Executive C.S. Venkatakrishnan and a person closely associated with him. The move relates to ordinary shares of Barclays with a nominal value of 25 pence each, in line with regul...
Stock BuybackRegulatory Filings and Compliance
Barclays cuts share count as buy-back tops 36 million shares
Positive
Aug 17, 2026
Barclays PLC has continued its share buy-back programme by repurchasing and cancelling more than 13 million ordinary shares over five trading days in August 2026, at prices slightly above 510 pence per share. The bank is cancelling all repurchased...
Regulatory Filings and Compliance
Barclays Discloses Share Disposal by Global Markets Head
Neutral
Aug 10, 2026
Barclays PLC has disclosed a transaction involving Adeel Khan, its Head of Global Markets, in compliance with regulatory requirements governing dealings by senior management. The notification concerns ordinary shares of Barclays with a nominal val...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Barclays Shrinks Share Count as Buy-Back Programme Advances
Positive
Aug 10, 2026
Barclays PLC has continued its share buy-back programme, repurchasing and cancelling nearly 12.6 million ordinary shares between 3 and 7 August 2026 on the London Stock Exchange via Citigroup Global Markets. The move reduces the number of shares i...
Regulatory Filings and Compliance
Barclays Discloses Share Disposal by Group Finance Director Anna Cross
Neutral
Aug 7, 2026
Barclays PLC has disclosed a share transaction involving Group Finance Director Anna Cross, in line with regulatory requirements for persons discharging managerial responsibilities. The transaction comprised the disposal of 461,588 ordinary shares...
Regulatory Filings and Compliance
Barclays Discloses Share Sales by Senior Executives
Neutral
Aug 6, 2026
Barclays PLC has disclosed share transactions by senior executives Matt Fitzwater, Group Chief Compliance Officer, and Denny Nealon, Chief Executive Officer for Barclays US Consumer Bank and Barclays Bank Delaware. The disposals, executed via Comp...
Regulatory Filings and Compliance
Barclays Updates Market on Total Voting Share Capital
Neutral
Aug 3, 2026
Barclays has disclosed that, as of 31 July 2026, its issued share capital comprises 13,498,162,168 ordinary shares carrying voting rights, with no ordinary shares held in treasury. This updated share capital figure serves as the reference denomina...
Business Operations and StrategyDelistings and Listing Changes
Barclays Adds Over 1.1 Million Fungible Shares to London Listing
Neutral
Aug 3, 2026
Barclays PLC is a major U.K.-based global financial services provider operating primarily in the banking industry. The group offers retail and commercial banking, investment banking, and wealth management services, with its shares listed on the Ma...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Barclays Advances Share Buy-Back, Cutting Share Count and Updating Voting Rights
Positive
Aug 3, 2026
Barclays PLC has continued executing its share buy-back programme, repurchasing a total of 9,715,087 ordinary shares on the London Stock Exchange since the initiative was announced on 29 July 2026. The latest tranche, bought from Citigroup Global ...
Business Operations and StrategyRegulatory Filings and Compliance
Barclays Directors Boost Holdings Through Fee-Funded Share Purchases
Positive
Jul 30, 2026
Barclays PLC has disclosed a series of share acquisitions by its Group Chairman and Non-Executive Directors under the company’s policy of using part of board fees to purchase ordinary shares. The transactions, executed on 28 July 2026 on the...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Barclays Updates Prospectus for Debt Issuance Programme
Positive
Jul 29, 2026
Barclays PLC has published a new prospectus supplement dated 29 July 2026 to its base prospectus for the Barclays PLC Debt Issuance Programme. The supplement has been approved by the U.K. Financial Conduct Authority and made available online, with...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Barclays Launches £1bn Share Buy-back to Cut Capital and Lift Returns
Positive
Jul 29, 2026
Barclays PLC has launched a share buy-back programme to repurchase up to £1bn of its ordinary shares, starting on 29 July 2026 and running until no later than 28 January 2027, with all repurchased shares to be cancelled to reduce the company&...
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
Barclays outlines interim 2026 results and investor engagement plans
Neutral
Jul 28, 2026
Barclays has released its interim results for the six months to 30 June 2026, outlining performance across its major divisions, including UK retail and corporate banking, private banking and wealth management, investment banking and its US consume...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.