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Why Barclays Is Trading Lower Today

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Why Barclays Is Trading Lower Today

Barclays PLC (NYSE: BCS) shares are trading lower on Wednesday.

The company reported worse-than-expected second-quarter EPS results and set aside £1.6 billion for loan loss provisions related to customers affected by the coronavirus pandemic.

Barclays is a universal bank headquartered in the UK. It operates via two principal segments; U.K. (38% of profit before tax) and International (62% of PBT). In its U.K. segment, the bank provides current accounts, mortgages, savings and investment management services, credit cards, and business banking services to retail clients and small and medium-size enterprises.

The international segment includes a corporate bank offering banking solutions to large corporates, a bulge-bracket global investment bank, and a credit card and payments business. In 2018, Barclays generated roughly 52% of its income from the U.K. and 34% from the US.

Barclays shares were trading down 5.63% at $5.44 on Wednesday. The stock has a 52-week high of $10.22 and a 52-week low of $3.41.

 

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