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Barclays: Do Not Fight The Fed

Sep. 01, 2022 6:05 AM ETBarclays PLC (BCS) Stock6 Comments
IP Banking Research profile picture
IP Banking Research


  • Do not fight the Fed (or the Bank of England for that matter).
  • Barclays is too cheap to ignore at ~0.5x tangible book.
  • Dividend yield is at an estimated healthy 4% but I expect it to grow in the next few years.
  • Sizeable share buybacks are very accretive currently.
  • The tailwinds of interest rates and nominal economy are currently not reflected in analysts' consensus.

Barclays Bank sign London


Barclays (NYSE:BCS) is still trading at just above ~0.5x its tangible book value.

It is expected to sustainably return on tangible equity (RoTCE) of above 10% in 2022 (and beyond) whilst absorbing substantial one-off legal and conduct charges emanating from an administrative error. This effectively

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IP Banking Research profile picture
Independent banking research focuses on financials, deep value, special situations, and financial arbitrage. Agnostic and apolitical approach for scouring the earth for durable and uncorrelated cashflows that work well in both inflationary and deflationary settings.See my tipranks profile below:https://www.tipranks.com/bloggers/ip-banking-researchTo benefit from independent insights and quality analysis from a banking insider - subscribe as a "real-time" follower above.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of BCS either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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Comments (6)

@IP Banking Research looks like alot of EU banks are on sale now. Bcs, DB, LYG etc.

Anyone stand out as a great buy or are they all good?
IP Banking Research profile picture
@GuyRien1 the UK moron political risk premium not helping BCS. DB is great value…see my latest article on it
28 Sep. 2022
Since this writeup, stock is down 15% more! I guess i cant resist, im buying more.
Certainly is hard to pass on a P/E of 6.
JrMastermind profile picture
Didn't they announce that they were opening operations in mainland China ... just as the economy is destabilizing?
01 Sep. 2022
this dog doesnt hunt! been invested for 7 years.. baww waaa
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