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Barclays Share Discussion Threads
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|As soon as barclays starts to increase it's dividend next year income funds will be buying. Looking for 275 by year end here. The rise we've had it was obvious the results would mean people taking profits.|
|The Fund Managers Betting On Banks
Morningstar data reveals more than 10 funds invest in HSBC, Barclays, RBS and Lloyds in their portfolio as this week five major UK banks posted mixed 2016 results
|Barclays PLC and Barclays Africa agree separation terms
Thursday, 23 February 2017
Barclays Africa Group today announced that it has agreed terms for operational separation with UK-based Barclays PLC, which is reducing its shareholding in Barclays Africa. The agreement is expected to unlock opportunities for Barclays Africa as an independent pan African bank. UK-based Barclays PLC announced last March that it intends to sell the majority of its shareholding in Barclays Africa over a period of two to three years.
Barclays PLC currently owns 50.1% of Barclays Africa. Following the reduction of Barclays PLC’s shareholding below the 50% mark, Barclays Africa will be able to continue using the Barclays brand at its operations outside of South Africa for three years. Barclays Africa will receive certain services from Barclays PLC on arms’ length basis for a transitional period, typically up to three years.
“It is a good outcome that enables us to complete the separation, and to provide continuity and improved service for our customers,” holds Maria Ramos, chief executive, Barclays Africa.
An important feature of discussions has been the provision for a broad-based black economic empowerment scheme. While the full details are still under consideration, we are pleased to announce that Barclays PLC has agreed to contribute an amount equivalent to 1.5% of Barclays Africa’s market capitalisation, or R2.1 billion (based on a Barclays Africa’s share price of R168.69 on 31 December 2016) towards the establishment of such a scheme.
“Separation has a number of implications for our business,” said Ramos. “It gives us the opportunity to unlock the potential to do things differently and build energy and momentum for our future as a pan-African organisation.”
Alongside a black economic empowerment scheme, Barclays Africa also wants to create an equity proposition for our staff in the next 12 to 18 months. This will give our people the opportunity to benefit from share ownership, and to share in the future growth of our business.
Barclays PLC has submitted an application to the South African Reserve Bank for approval to reduce its shareholding in Barclays Africa Group to below 50%. The application, which also requires the approval of the Minister of Finance, includes the terms of the separation payments and transitional services arrangements, which have been agreed between Barclays PLC and Barclays Africa.
The agreement provides for contributions by Barclays PLC totalling GBP765 million (R12.8 billion based on 31 Dec 2016 exchange rate) primarily to fund the investments required for Barclays Africa Group to separate from Barclays PLC as follows: £515m for investments required in technology, rebranding and other separation projects; £55m to cover separation related expenses, of which £27.5m was received in December 2016; and £195m to terminate the existing service level agreement between Barclays and BAGL, relating to the Rest of Africa operations acquired in 2013.
The expectation is that the financial contributions will neutralise the capital and cash flow impact of separation investments on the Group over time.|
|Deutsche Bank was a buyer of the shares of UK rival Barclays PLC (LON:BARC) before yesterday's results, and it remains so after them.
The German bank said Barclays' operating performance was solid while the better-than-expected capital ratio was a bonus.
“However, the market remains concerned about the potential headwinds in train (pensions, IFRS9, Basel, litigation, preference share redemptions to name a few),” Deutsche (DB) noted.
DB has left its forecasts for the current year unchanged, and nudged up forecasts for next year and the year after by 3%.
“Although our earnings forecasts do not move significantly, we think the results reconfirm our thesis of better cost performance in future years, whilst the capital beat provides a buffer to potential head-winds,” DB added.
Trading on 80% of their tangible net asset value (TNAV) , DB said the shares, trading at just nine times 2018's projected earnings per share, remain a 'buy.
It has upped its price target to 273p, based on a sum of the parts valuation. The shares currently trade at 225.5p.
Key downside risks relate to the cost of regulatory change, litigation, disappointing capital markets, an unexpected spike in credit costs, adverse outcomes on pension triennial agreement, and market & economic uncertainty on implications of Brexit.
|if we close above 228 , a hammer candle will be formed which is a buy signal. I shall buy back my shares then!|
|Still falling !
|Oh I agree cape view I voted out but fleet st and commerce like to ram it to us we were wron and the bbc are no better. Long term everything will be fine but every chance to squeEl then the rich pig will.|
|@clond, 50 billion brexit is a bit of a kick in the teeth, but seeing as to how most of the EU is in such dire straits, is it the lesser of 2 evils. After all, we could be in for another Greek Bailout, and who will pay for that?|
|Don't think trump cares if the ftse crashes or not sue999. Might be more worried about the Dow but that ain't going through a 50 billion brexit.|
|Heavy selling and shorting on Barc seems the 242p yesterday was the top and I cant see the Dow perpetually going up and as I said earlier a correction is coming imminently imo.|
|I'm amazed that you need to read this in a publication !
This thread makes me :-)|
|Still shafting the investors.
The bank is paying out £500m to investors from the 3p a share dividend – as flagged last year. However, it is still handing £1.5bn to staff in bonuses. A total of 364 Barclays staff were paid more than £1m last year, including 11 who received more than £5m.
In 2015, when the shares were changing hands at 260p, McFarlane promised to double the share price in three years.
|Critical article on Barclays,
Before Staley takes too much comfort from the 50% improvement in the share price since last summer, he should take a step back. The shares were 260p on the day Jenkins was fired in 2015 and are 229p now.|
|portside, you make a good point on the chairman. Seems to be very quiet!!|
|All the British banks who have had American bankers running them have all gone to the dogs and been done for theft and dishonesty. You have to wonder whether or not that was part of their big plan to ruin U/K banks.|
|yes he was not honest which I find unbelievable thought he was more honest . but wait for the agm he will be their to face the holders .
HE DELIBRATELY MISLED INVESTORS THATS FOR SURE ALMOST A CRIMINAL ACT|
|Indeed Porty - Jes ignoring the elephant has caused this monster tumble|
|will say this jes deliberately did not mention certain issues that was very dishonest would of expected better of him .
all will be ok just wait for agm 8 weeks|
|I did post saying end of 2017 so just add a few more on dips but only a few like around 5k a time a monthly pension|
|i will not be selling have deep pockets I just feel for those that have not|
|what would he do with his days without spending them at his computer posting endless moans about barc and tsco.|
|Is portside going to sell and move on?|
|is the silent chairman about to resign|