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Barclays PLC

BARC: XLON (GBR)
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Morningstar Rating for Stocks Fair Value Economic Moat Capital Allocation
GBX 413.00HvflGkvmrzc

Good First Quarter for Barclays Despite Bizarre Securities Overselling Faux Pas

No-moat Barclays reported first-quarter profits before tax of GBP 2,234 million, down 7% from the same period a year ago. The decline originated from higher litigation and conduct charges of GBP 523 million, which were primarily related to the overissuance of securities in the U.S. as well as slightly higher credit impairments. The one-off litigation charges aside, performance was good and we maintain our GBX 185.00 per share fair value estimate.

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