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I know it doesn't always work like that.
I guess I was making two points here. Barclays are still classed as cheap because they're trading below their book value - and Jes Staley said one of the reasons he's deploying buybacks is if shareholders are willing to sell shares back to him for less than they're worth he's happy to buy them.
My second point, is that American banks are trading at a higher price than their book value. As cyclical stocks British Banks tend to follow American Banks - it can just take a while.
The market decides on the share price. Net Asset Value is just one of many things to take into account when looking at where to invest. If Barclays was to get taken over, broken up and then sold off then after selling the assets it would be worth more than what the market is currently valuing the firm. They're trading at 0.6 of the value of the assets - so they are classed as cheap or 'Value' shares.
The stars seem to be aligning for financials. Barclays have today announced their best ever year to date results. Better than the golden times before the financial crisis. So for a number of reasons I agree with Brighty that £3.50 within 18-24 months is not beyond the realms of possibility.
Just an observation. Barclays Net Asset Value per share has increased to £2.87. So Barclays shares are still cheap by this measure. In contrast American Banks are trading above their book value. As an example Bank of America is trading at 1.58 to the value of each share.
So, when British banks catch up, and they usually do Barclays @£2.87 x1.58 (PB Value) would give Barclays a share price of £4.53.
So £3.50 within 18 months is achievable in my view.
Looks like the excellent results are being overshadowed by the poor general market sentiment at the moment.
Reading the article on the BBC I knew that Barclays would be involved somewhere:
"More than 1,000 individuals are currently under investigation. Documents made public during the trial show that banks such as Barclays and Santander are under scrutiny, along with high-profile US financial giants and a large number of German institutions. "
[https://www.bbc.co.uk/news/business-58984814]
The last time we were producing similar results to this our share price was over 500p. 225p by the end of this year and 350p within 18 months is looking on the cards for Barc. Good luck, Brighty
If it goes down enough I'll buy more
Before it goes up, it will go a bit down.
Fantastic Q3 results today. I'm sticking with my prediction of BARC at 225p by the end of this year and 350p within 18 months. Although we could be much higher than 225p by the end of this year judging by the results today. Good luck, Brighty
Barc results reflect that jovial mood Jes was in few days ago.
Looking very promising.
Good day Thursday they announce Q3 results……I’m sure they will be outstanding
Anyone believe in the codes?
Code 1 just before close - 1 share sell, 1 share buy
Good day tomorrow?
fingers crossed
Anyone watch Jess the ceo of barc this morning on Bloomberg. He seemed very jovial, like things are going his way, things to be happy about. Could be a good Thursday.
... and again.
Testing 200p again.
Going to take a while to break 2.00 and keep it I think.
Finally back to nearly being back in the blue with this one. 2.00 incoming.
Up the barcs. Long may it continue. Has taken absolutely years and years. But good to be back level.
Agree entirely.
Or they can't issue new shares , whilst at the same time they are buying back others.
Rock,
Still has a long way to run before hitting pre leaving the Eu level, hardly overpriced.
With all the M&As that have been going on I would expect the next results to be quite good ,also if thier is a rate rise that should shift the sp up. :-). Barclays and other bank stocks should do very well over the next year.
i think these 'new' shares have been issued for the Barclays' staff SAYE and SIPs schemes. these are HMRC regulated and therefore separate to any buyback.
overpriced pre covid level now!!!!!!!!!!!!!
Typical of banks to act in this slippery snake way. Over £2 and I am out of financials for ever. Do not deserve the trust and faith of holders imho.
I'm not sure there ought to be a principle that reward directors or others at no cost to the business and entirely at cost to shareholders.