Barclays Bank PLCBCSPAST TOP PICKJun 16, 2016Stock price when the opinion was issued
As of Jun 23, 2026. Market Open.
Best European bank? European banking is difficult, given negative interest rates. Best in class is Barclay's for its investing banking business or Lloyd's Banking. There should be more consolidation here, but it's difficult in Europe (look at ATD'B trying to buy Carrefour this month).
Likes it. They bought Lehman, which had investment banking but was really a bond house, so Dodd-Frank caused a lot of capital issues and restrictions. New management is doing a good job by sticking with investment banking and have a great retail franchise in the UK, and they exited businesses around the world that didn't work out. They're going all the right things, though Brexit creates uncertainty. Great credit card business. It will do well, but have to get past Brexit early next year.
(A top Pick July 8/15. Down 40.54%.) Sold this a while ago. Had liked it because he felt they were going in a certain direction about reducing their investment bank and cutting back on certain areas. Then there was a big CEO change, there was just too much turmoil.