Yesterday’s Analyst’s Downgrade: Barclays PLC (ADR) (NYSE:BC)

Barclays PLC (ADR) (NYSE:BC) currently trades at $11.39 which is about -0.78% lower than the 52-week high of $12.05. The trading volume at ready counter moved to 3.03M shares as compared to 4.22M shares average traded volume. The stock failed to get pushed above the $11.49 barrier, the intraday high, after opening at $11.45. Analysts have a consensus target price of $11.10 in the 12-month period. Its market capitalization has now reached to $48.08B.

Barclays PLC (ADR) (NYSE:BC) was dropped to Underweight from Equal Weight at Barclays. It has earned a consensus buy rating, according to Zacks Investment Research. No analyst has rated the stock with a sell rating, 3 have assigned a hold rating, Zero says it’s a buy and 1 has assigned a strong buy rating to the company.

Barclays PLC (ADR) (BC) on December 12, 2016 announced it has realigned the management structure at its Recreational Boat Group, which manufactures and markets Bayliner and Sea Ray boats.

As part of this realignment, Tim Schiek and Scott Kent are leaving the Company to pursue other interests.  Respectively, they had served as president – Recreational Boat Group, and chief financial officer – Recreational Boat Group.  Neither of these positions will be replaced.  While Schiek is leaving immediately, Kent will remain in a transition role reporting to Brunswick Boat Group President Huw Bower.

To further reinforce the category structure introduced earlier this year, Brad Anderson and Scott Ward will report to Bower, and are appointed president and general manager – Sea Ray Sport Boat and Cruisers and president and general manager – Sea Ray Sport Yachts and Yachts, respectively.  “Brad and Scott will continue to operate following their current charters: to continue to build upon momentum in the sport boat and cruiser categories, and to improve performance in our yacht business,” Bower said.

“The caliber and leadership of this team are well known and the individuals highly regarded in the industry,” Bower said.  “With thanks and gratitude to both Tim and Scott for their years of service and leadership, the Recreational Boat Group is prepared to move forward to meet the challenges and opportunities ahead.”

The new structure, according to Bower, will “deliver sharper focus on the performance of these core brands, drive efficiency across the Recreational Boat Group and further emphasize growth drivers within the Boat Group`s portfolio of 16 brands.”

The Brunswick Boat Group, part of Brunswick Corporation (BC), includes the Recreation Boat Group, Freshwater Boat Group, the Boston Whaler Group and European Boat Group.  Brunswick boat brands include Bayliner, Boston Whaler, Brunswick Commercial and Government Products, Crestliner, Cypress Cay, Harris, Lowe, Lund, Meridian, Princecraft, Quicksilver, Rayglass, Sea Ray, Thunder Jet and Uttern.

Mastercard Inc. (NYSE:MA) acquisition of VocaLink deal worries U.K. watchdog

According to the reports, U.K. Competition and Markets Authority said in a statement on Wednesday, January 4, 2017 that it is worried that Mastercard Inc. (NYSE:MA) takeover of VocaLink gives surge to competition worries, and is seeking actions from the companies to address these matters.

Meanwhile they have until Jan. 11 to suggest a solution, or the watchdog will refer the deal for an in-depth enquiry, it said.

Last year in July Mastercard Inc. (NYSE:MA) proclaimed that it was set to take over 92.4% of VocaLink Holdings Ltd. in an agreement prized at about $920 million. If the agreement concludes, a majority of VocaLink’s existing owners will keep a 7.6% stake for at least three years.

Furthermore MastercardU.K. Holdco Ltd., a subsidiary of Mastercard already possesses and functions credit and debit card schemes Mastercard, Maestro and Cirrus, and has also bid to source infrastructure services to U.K. interbank payment systems.

VocaLink’s technology offers the backbone for non-card transactions such as employer payroll deposits and consumer bill payments, handing out over 90% of salaries, more than 70% of domestic bills and almost all state benefits in the U.K.

VocaLink’s technology also unites the set-up of Britain’s automated teller machine network among its participating banks. VocaLink meanwhile posted $240 million in revenue last year and handled more than 11 billion transactions.

Moreover Vocalink is retained by a group of 18 banks and building societies, with the four biggest being Royal Bank of Scotland Group PLC, Barclays PLC BARC HSBC Holdings PLC, and Lloyds Banking Group PLC.

Following the deal was announced in last July the U.K. Payment Systems Regulator said the four largest stockholders of VocaLink should sell all, or part of their holdings in the structure provider if its takeover by Mastercard (MA) doesn’t go forward, to open up the market and lift competition.

Deutsche Bank agreed to pay $7.2 billion fines for mortgage securities scam

According to latest publication Germany’s lender Deutsche Bank announced to agree a $7.2 billion payment to US establishments over a probe into mortgage-backed securities.

The figure still, which still require final sanction, is way down from the $14 billion the US had asked the bank to pay in September.

These fine had had raised concerns that a letdown of the bank could pose a risk to the worldwide fiscal system.

Recently Credit Suisse also revealed a similar transaction, though Barclays is now under probe as well.

Meanwhile sale of housing mortgage-backed securities played a significant role in the 2008 fiscal crisis.

In the recent times several lenders in the US have been under investigations over allegations of giving mortgages to unqualified borrowers, then repackaging those loans as safe investments and selling the risk on to others. The inquiries related to deals done between 2005 and 2007.

Meanwhile, Credit Suisse has said it has agreed a $5.28 billion deal to settle its own disagreement with US establishments over mortgage-backed securities.

Reports said that the Swiss bank will pay US authorities close to $2.48 billion, and will also offer customer $2.8 billion in recompense over the next five years.

Furthermore, the US Department of Justice has announced that it is also taking legal action against Barclays for alleged mortgage securities fraud.

It alleged that from 2005 to 2007, Barclays “repeatedly misrepresented the characteristics of the loans backing securities they sold to investors throughout the world, who incurred billions of dollars in losses”.

Moreover Deutsche Bank is supposed to be glad with this settlement. It will be sore, but it easily could have been worse.

Yesterday’s Downgrade: Barclays PLC (ADR) (NYSE:BCS)

Barclays PLC (ADR) (NYSE:BCS) currently trades at $11.74 which is about -2.09% lower than the 52-week high of $13.41. The trading volume at ready counter moved to 4.75M shares as compared to 5.44M shares average traded volume. The stock failed to get pushed above the $11.76 barrier, the intraday high, after opening at $11.63. Analysts have a consensus target price of $10.45 in the 12-month period. Its market capitalization has now reached to $48.71B.

Barclays PLC (ADR) (NYSE:BCS) was dropped to Underweight from Equal Weight at Barclays. It has earned a consensus buy rating, according to Zacks Investment Research. No analyst has rated the stock with a sell rating, 4 have assigned a hold rating, Zero says it’s a buy and 1 have assigned a strong buy rating to the company.

Barclays PLC (ADR) (NYSE:BCS) on November 16, 2016 announced the release in the US of a newly enhanced version of Hydra, its liquidity seeking algorithm for equities. The algorithm’s reconfigured features incorporate Barclays’ execution experience as well as feedback from clients to achieve more differentiated execution styles and refined control of interaction with liquidity in the market.

The objective of Hydra is to minimize slippage from the arrival price while seeking additional dark liquidity according to the trader’s level of urgency. The four principal execution styles are Quiet, Neutral, Aggressive and Dark Only. With more parameters governing how the strategy works an order and interacts with dark liquidity, the configuration of each execution style is more distinct. Furthermore, clients can customize these parameters, and can enlist the help of Barclays’ execution consulting and analytics team to develop a data-driven approach for customization.

The new configuration of Hydra will become the default on January 23, 2017, without any further action required from clients. However, clients can elect to use the new version at any time before that date. Additionally, clients can request to continue using the current version at any time.

According to results from early adopters and internal testing, the new configuration is behaving as intended, with greater differentiation across urgency levels.

“Users should notice a marked difference between the execution styles in this new version of Hydra,” said Joe Mecane, Head of Equities Electronic Trading. “In particular, they should see a difference between the participation rates and the percentage of fills from passive, midpoint and aggressive order placement, in line with their chosen execution style.”

Barclays PLC (ADR) (NYSE:BCS) got Upgraded

Barclays PLC (ADR) (NYSE:BCS) shares were up 0.76% on Thursday when approximately 7.40M shares were traded, against the average daily trading volume of 5.62M. Analysts at Credit Agricole recently upgraded the stock to Underperform from Buy. Barclays PLC (ADR) (NYSE:BCS) has a consensus buy rating, according to Zacks Investment Research. No analyst has rated the stock with a sell rating, 3 have assigned a hold rating, Zero says it’s a buy, and 1 has assigned a strong buy rating to the company.

The 52-week price range is $6.72-$13.26 and the company has a market capitalization of $52.06 billion.

Barclays PLC (ADR) (BCS) on November 16, 2016 announced the release in the US of a newly enhanced version of Hydra, its liquidity seeking algorithm for equities. The algorithm’s reconfigured features incorporate Barclays’ execution experience as well as feedback from clients to achieve more differentiated execution styles and refined control of interaction with liquidity in the market.

The objective of Hydra is to minimize slippage from the arrival price while seeking additional dark liquidity according to the trader’s level of urgency. The four principal execution styles are Quiet, Neutral, Aggressive and Dark Only. With more parameters governing how the strategy works an order and interacts with dark liquidity, the configuration of each execution style is more distinct. Furthermore, clients can customize these parameters, and can enlist the help of Barclays’ execution consulting and analytics team to develop a data-driven approach for customization.

The new configuration of Hydra will become the default on January 23, 2017, without any further action required from clients. However, clients can elect to use the new version at any time before that date. Additionally, clients can request to continue using the current version at any time.

According to results from early adopters and internal testing, the new configuration is behaving as intended, with greater differentiation across urgency levels.

“Users should notice a marked difference between the execution styles in this new version of Hydra,” said Joe Mecane, Head of Equities Electronic Trading. “In particular, they should see a difference between the participation rates and the percentage of fills from passive, midpoint and aggressive order placement, in line with their chosen execution style.”

The enhancements to Hydra include:

  • Restrike logic to reset the benchmark arrival price as market price deviates
  • New Dark Step Ahead styles that control how much of the remaining order to submit to dark order placement logic
  • A Dynamic Min Quantity for hidden posted orders determined daily for each symbol-venue combination based on historical data
  • A new ATS-only posting option which excludes hidden liquidity on lit exchanges for the purposes of dark order placement
  • Pounce on Marketability function to take outsized lit liquidity when certain conditions are met

Analysts Downgrades Report: Barclays PLC (ADR) (NYSE:BCS)

Barclays PLC (ADR) (NYSE:BCS) currently trades at $10.16 which is about 0.49% higher than the 52-week high of $14.13. The trading volume at ready counter moved to 9.48M shares as compared to 6.18M shares average traded volume. The stock failed to get pushed above the $10.17 barrier, the intraday high, after opening at $10.13. Analysts have a consensus target price of $9.25 in the 12-month period. Its market capitalization has now reached to $43.13B.

Barclays PLC (ADR) (NYSE:BCS) was dropped to Underweight from Equal Weight at Barclays. It has earned a consensus buy rating, according to Zacks Investment Research. No analyst has rated the stock with a sell rating, 3 have assigned a hold rating, Zero says it’s a buy and 1 has assigned a strong buy rating to the company.

Barclays PLC (ADR) (BCS) on October 8, 2016 announced that the iPath MSCI India IndexSM Exchange-Traded Notes (the “ETNs”) have been determined to be subject to certain regulations and recent circulars issued by the Securities and Exchange Board of India (“SEBI”) relating to offshore derivative instruments linked to Indian equity securities. These regulations and circulars include requirements that cannot be complied with in the context of the ETNs. As a result, SEBI has advised Barclays not to issue additional ETNs and that the positions being held in the ETNs may only continue until December 31, 2020.

Barclays previously restricted further sales from inventory and further issuances of the ETNs in 2009. Barclays is currently considering steps to comply with the SEBI decision by December 31, 2020 and will make a further announcement in due course. These steps may result in the ETNs ceasing to be listed and publicly traded.

This announcement may cause fluctuations in the price of the ETNs in the secondary market, and it is possible that the market price of the ETNs may at any time reflect a premium or a discount to the daily redemption value of the ETNs. Investors should exercise extreme caution before purchasing or selling ETNs at a time when market prices are volatile or when a premium or discount to the daily redemption value exists.

For more information on what a premium or discount in the market prices represents, please refer to the iPath website under “About ETNs”. Investors are also encouraged to refer to the prospectus relating to the ETNs for risk factors relating to the secondary market for the ETNs and the market value of the ETNs, including the risks associated with a premium or discount in market prices.

Stock Upgrades: Barclays PLC (ADR) (NYSE:BCS)

Barclays PLC (ADR) (NYSE:BCS) shares were up 1.75% on Wednesday when approximately 4.83M shares were traded, against the average daily trading volume of 6.12M. Analysts at Credit Agricole recently upgraded the stock to Underperform from Buy. Barclays PLC (ADR) (NYSE:BCS) has a consensus buy rating, according to Zacks Investment Research. No analyst has rated the stock with a sell rating, 3 have assigned a hold rating, Zero says it’s a buy, and 1 has assigned a strong buy rating to the company.

The 52-week price range is $6.72-$15.33 and the company has a market capitalization of $36.22 billion.

Barclays PLC (ADR) (BCS) on October 6, 2016 announced that during the Index rebalance that commences following the close of business on Friday, October 14, 2016,

The Barclays ETN+ Select MLP ETNs are linked to the performance of the Volume-Weighted Average Price (“VWAP”) of the Index. The ETNs were listed on the NYSE Arca stock exchange in March 2013 under the ticker symbol ATMP. An investment in the ETNs involves significant risks, including possible loss of principal, and may not be suitable for all investors. The ETNs are riskier than ordinary unsecured debt securities and have no principal protection. The ETNs are speculative and may exhibit high volatility. The ETNs are also subject to certain investor fees, which will have a negative effect on the value of the ETNs. You are not guaranteed to receive coupon payments on the ETNs. You will receive a coupon payment on a coupon payment date only to the extent that the accrued dividend exceeds the accrued investor fee on the relevant coupon valuation date.

In accordance with the Index methodology as described in the prospectus relating to the ETNs, the Index is rebalanced quarterly. The Index currently includes 29 constituents. The index constituents will be rebalanced on a capped, float-adjusted, capitalization-weighted basis across four index business days starting on Friday, October 14, 2016. Constituent additions to and deletions from the Index do not reflect an opinion by Barclays Bank PLC on the investment merits of the respective securities.

The target weights for the top Limited Partnership (“LP”) and General Partnership (“GP”) index constituents, effective after the rebalance that commences on Friday, October 14, 2016, are reported in the table below. For more information regarding how an Index constituent is classified as a LP or a GP, please see the prospectus relating to the ETNs.

Yesterday’s Upgrade Review: Barclays PLC (ADR) (NYSE:BCS)

Barclays PLC (ADR) (NYSE:BCS) received a stock rating upgrade from HSBC Securities on Sep-21-16. In a note to investors, the firm issued a Buy rating. The analysts previously had a Hold rating on the stock.

The 52-week price range is $6.72-$15.38 and the company has a market capitalization of $39.45 billion. Analysts covering the shares maintain a consensus Buy rating, according to Zacks Investment Research. Zero analyst has rated the stock with a sell rating, 3 has assigned a hold rating, 0 says it’s a buy, and 1 have assigned a strong buy rating to the company.

Barclays PLC (ADR) (BCS) on June 13, 2016 announced the appointment of Tim Main as Chairman of Global FIG, based in New York. Mr. Main joins Barclays from Evercore Partners where he was most recently Senior Managing Director, with responsibility for covering clients in banking, specialty finance and wealth and asset management.

Mr. Main has more than 25 years of experience in banking and has advised on some of the largest and most transformational deals over the past two decades including the merger of Wachovia and Wells Fargo, RBC’s $4.1bn acquisition of Ally Canada and most recently M&T Bank’s takeover of Hudson City for $3.7bn.

Prior to joining Evercore, Mr. Main spent over 20 years at J.P. Morgan, which he joined as an analyst in 1987 and where he gained unique experience working in the CEO’s office. He then moved on to run Global ECM and, most notably, led J.P. Morgan’s FIG business for over 10 years acting as in-house advisor on J.P. Morgan’s own deals.

Commenting on the appointment, John Miller, Head of Americas Banking, said: “Tim has an outstanding track record and vast knowledge, experience and relationships. His expertise fits perfectly with our origination-led banking model. This appointment reflects our ongoing commitment to bringing top-tier talent into Barclays, and providing clients with first-class strategic advice.”

In his role as Chairman of Global FIG, Mr. Main will be responsible for developing further relationships and strategic dialogue with key clients worldwide. He will continue to use his expertise within the FIG franchise, while selectively working across a range of other sectors within the financial services landscape. He will work closely with Lee Einbinder and Richard Bonaventura, Co-Heads of FIG Banking in the Americas, and report to Mr. Miller.

Mr. Main has an A.B. in Economics and Mathematics from Princeton University.

Barclays’ Investment Bank is currently ranked 6th in the Dealogic Fee Share league table, and remains the highest ranked European bank globally and in the Americas at the end of May. Within the FIG sector, Barclays has advised on notable transactions including: GE Capital’s sale of its Commercial Lending and Leasing platforms in France and Germany to Crédit Mutuel, Catlin’s sale to XL Group plc, Deutsche Börse’s proposed merger with London Stock Exchange, and Element’s acquisition of GE Capital’s Fleet Operations.

Yesterday’s Upgrade Review: Barclays PLC (ADR) (NYSE:BCS)

Barclays PLC (ADR) (NYSE:BCS) received a stock rating upgrade from Exane BNP Paribas on Aug-08-16. In a note to investors, the firm issued an Outperform rating. The analysts previously had a Neutral rating on the stock.

Analysts have a consensus target price of $12.25 in the 12-month period. The price objective is 46.71% higher than the recent closing price of $8.35. The 52-week price range is $6.76-$17.18 and the company has a market capitalization of $35.19 billion. Analysts covering the shares maintain a consensus Buy rating, according to Zacks Investment Research. Zero analyst has rated the stock with a sell rating, 3 has assigned a hold rating, 0 says it’s a buy, and 1 have assigned a strong buy rating to the company.

Barclays PLC (ADR) (BCS) on June 29, 2016 announced that following the close of business on Friday, July 8, 2016, there will be no changes to the constituents in the Atlantic Trust Select MLP Index (the “Index”).

The Barclays ETN+ Select MLP ETNs are linked to the performance of the Volume-Weighted Average Price (“VWAP”) of the Index. The ETNs were listed on the NYSE Arca stock exchange in March 2013 under the ticker symbol ATMP. An investment in the ETNs involves significant risks, including possible loss of principal, and may not be suitable for all investors. The ETNs are riskier than ordinary unsecured debt securities and have no principal protection. The ETNs are speculative and may exhibit high volatility. The ETNs are also subject to certain investor fees, which will have a negative effect on the value of the ETNs. You are not guaranteed to receive coupon payments on the ETNs. You will receive a coupon payment on a coupon payment date only to the extent that the accrued dividend exceeds the accrued investor fee on the relevant coupon valuation date.

In accordance with the Index methodology as described in the prospectus relating to the ETNs, the Index is rebalanced quarterly. The 29 index constituents will be rebalanced on a capped, float-adjusted, capitalization-weighted basis across four index business days starting on Friday, July 8, 2016. Constituent additions to and deletions from the Index do not reflect an opinion by Barclays Bank PLC on the investment merits of the respective securities.

The target weights for the top Limited Partnership (“LP”) and General Partnership (“GP”) index constituents, effective on Friday, July 8, 2016, are reported in the table below. For more information regarding how an Index constituent is classified as a LP or a GP, please see the prospectus relating to the ETNs.