5 Best European Bank Stocks to Invest In

2. Barclays PLC (NYSE:BCS)

Number of Hedge Fund Holders: 13

Barclays PLC (NYSE:BCS) is a leading global financial services provider and one of the largest banks in the United Kingdom. The company offers a range of services and products, including retail banking, corporate banking, wealth management, and investment banking. The company’s operations span more than 40 countries and its products and services are available to more than 48 million customers worldwide. Barclays PLC (NYSE:BCS) is a profitable European bank that is currently trading cheaply relative to earnings. The company has a trailing twelve-month operating margin of 38.85% and is trading at a PE multiple of 5x, as of December 1.

On October 27, Credit Suisse analyst Omar Keenan raised his price target on Barclays PLC (NYSE:BCS) to 250 GBP from 240 GBP and maintained an Outperform rating on the shares. This October, RBC Capital analyst Benjamin Toms raised his price target on Barclays PLC (NYSE:BCS) to 180 GBP from 170 GBP and reiterated a Sector Perform rating on the shares.

At the close of the third quarter of 2022, 13 hedge funds were long Barclays PLC (NYSE:BCS) and held stakes worth $138.7 million. As of September 30, Arrowstreet Capital is the top investor in the company and has a position worth $75 million.