Equities By Region Finance and Banking UK

Barclays share price steady ahead of full-year results

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Shares in Barclays (LON:BARC) have been steady in London in today’s session, ahead of the lender’s full-year results tomorrow. The update will come at a sensitive time for the blue-chip group, which is currently facing pressure from activist investor Edward Bramson, and after it emerged earlier this week that US hedge fund Tiger Global had sold its entire holding in the company.

As of 13:29 GMT, Barclays’ share price had added 0.20 percent to 159.32p. The advance is largely in line with gains in the broader UK market, with the benchmark FTSE 100 index currently standing 0.25 percent higher at 7,197.39 points.

Barclays results preview

Barclays is scheduled to update investors on its full-year performance tomorrow and IG reports that according to consensus expectations, the group’s net operating income is expected to have climbed to £19.67 billion last year, from £18.74 billion in the prior-year period. The lender’s pre-tax profit meanwhile is forecast to have surged to £5.83 billion from £3.54 billion.

The FTSE 100 group’s results will come after the company reported in October that profit before tax was £3.12 billion in the year-to-date, down from £3.45 billion a year ago, weighed down by litigation and conduct charges of £2.1 billion. At the time, the lender’s chief executive Jes Staley reaffirmed Barclays’ intention to pay a dividend of 6.5p for the full year.  

Analyst ratings update

Jefferies, which sees Barclays as a ‘buy,’ tweaked its price target on the stock from 262p to 263p last week. According to MarketBeat, the London-listed lender currently has a consensus ‘buy’ rating and an average price target of 214.12p.

Barclays’ results will follow those of FTSE 100 peers RBS (LON:RBS), HSBC (LON:HSBA) and Lloyds (LON:LLOY). StanChart meanwhile will wrap up the FTSE 100 banking reporting season on Tuesday.

As of 14:11 GMT, Wednesday, 20 February, Royal Bank of Scotland Group share price is 159.32p.

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