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Yeah think this will pop up to the 215-230 range in pretty short order.
2% down was inevitable after such a rise yesterday, a little bit of profit taking before 📈
Looks like barc had a turn now better
Why down 4 percent ?
I too think car finance issue will put a lid on the Lloyds price. FCA update in September so don't think big institutions will buy Lloyds until they see the outcome on car finance investigation.
Return to shareholder by dividends?
Next target 250p
With £10bn return to shareholders by 2026 this can double from here?
It was a panic promoted by the worst elements of the CIA that stopped the world not an illness. Had COVID not occured during a us election year the world would have carried on perfectly as normal, just as it has during every other severe respiratory disease. One only has to pick up the times or telegraph to see how controlled they are by the intelligence services.
Morgan Stanley is very positive to BARC stock. The firm raised PT to 270p (bear case 125p, bullish case 350p).
Excerpts:
IB performance was mixed in the quarter, however better revenues in UK and US cards, together with better cost control drove the bottom line beat. Post results our 2025e/26e EPS moves up 2%. On 0.55x P/TBV 2024e for an 11% 2026e RoTE, we re-iterate our Overweight. Our PT increases to 270p.
Merril Lynch (Bank of America) - as usually negative PT190p
OK numbers, strategic challenge remains
A small headline beat turns into a miss on an underlying basis. While Barclays, has
reiterated its targets, there’s little evidence of progress so far. Investment Bank market
share loss continues and we’d expect UK growth to be a slow process, with 30% balance
sheet growth over three years still stretching. Positives are BUK margin expansion and
reiteration of cost targets even with the £120m BoE levy. Share buybacks are attractive
but we continue to see Barclays as strategically challenged and stay Underperform.
Q1 6% ahead reported, underlying miss
Attributable profit of £1,550m is 6% above consensus and down 13% YoY. Revenues and
provisions are 1% and 5% better than consensus respectively and costs are in line.
Excluding the £125m Visa B shares gain, income and earnings would be 1% and 2%
below consensus, with the miss likely bigger if adjusted for the unquantified legacy
investment gain in Head Office. A 13.4% CET1 ratio compares to 13.5% consensus with
risk weighted assets £7bn higher QoQ. Tangible book of 335p is up 1% QoQ.
Possible therefore to see FY24 EPS of around 37p-38p hence still on 5.5x forward.
Good progress on the £2bn operating savings as well.
I think the £10bn buyback is becoming more credible, assuming this happens stock could be nearer 350p ps.
Judgement, at covid troubles, was lucky to have cash at that time. Right place, right time and took advantage of BP at £2 as well as others, it was an illness that stopped the world not an economic meltdown. Panic sometimes brings opportunities,
The main reasons for their disastrous performance over the past 15 years is the banking crisis of 2008, plus in Barclays case their almost continual involvement in financial scandals from money-laundering to LIBOR rigging to tax evasion. They've had 3 disastrous CEOs in succession, namely John Varley, Bob Diamond and Jes Staley, all of whom were embroiled in scandals and had to resign.
The latest CEO, C.S. Venkatakrishnan is the first one since the banking crisis who has so far managed to remain scandal-free in 2½ years. Let's just hope things continue to stay that way.
https://www.theguardian.com/business/2021/nov/01/discredit-history-10-years-of-barclays-scandals
So the market responded very favorably to BARC stock, let me put the positive here:
1. Q1 10.3p beat estimate 9p
2. Except US card RoTE ~5%, all other segment has demonstrated above 12% RoTE. So 12% RoTE is doable
3. 2024 full year RoTE c10.5. Using 335p TNA as base, this is ~35p EPS or more depending on TNA. This beat current US estimate ~30p by a large margin.
4. Q1 buybacks contributed 1p TNA. This is the beauty of PB less than 1. Per share tangible book value increased ~ £150M. This round buybacks will contribute another 4-5p. And full year £2B buybacks will contribute ~ 10p TNA per share which is equal to increase EPS by 1p.
I will monitor Morgan stanley and Merril Lyng say about the BARC Q1 earnings.
Thanks for gaps info. I need time to study this. It may be valid stuff, though I personally am sceptical of complex trading systems which purport to effectively beat the market. But I should shut up until I have read and absorbed the article. Sure brokers make profits from retail investors by playing these types of games.
@5percent - https://www.investopedia.com/articles/trading/05/playinggaps.asp
Finally sold out after holding for many years. I sold now because the constant scandals that kept crashing the share every time it seemed to be doing well.
This is barcs, the next scandal is a certainty.
Can somebody explain what the gaps thing means ? I have no idea what it is about or what it shows
Absolutely OLR - and some gaps never get filled,
What I find strange is that we have exactly the situation on the NWG chart, but not on Lloy - suggests trouble ahead - but makes we wonder what could adversely affect Barc & NWG but not Lloy
P.s. I'm a Barc and Lloy long term holder, but I wouldn't be looking at buying more Barc while those lower gaps remain, re NWG, HMG might sell off its remaining shares this summer
Asp,
It's lucky it can take years to fill old gaps.
Jammy Jam?
Or judgement?
Jamtart
nice one,well done
dont forget our deal though,we go 50/50 on your profits.lol.
201p being paid atm
Glad I got these at 98p, holding for the £3 range.
Nearly there.
Curious to see what the new trading range will be and where this settles. I'm thinking 210-230 it where we'll be in a few weeks without Biden causing more wars with his demented stupidity.