Barclays PLC [BCS] Stock Forecast

A U.S. judge on Friday dismissed a former Barclays Plc trader's whistleblower lawsuit accusing the British bank of firing him after he complained it ignored basic risk management and violated its own policies for detecting rogue trading.

If the Swiss National Bank's plan when it forced Credit Suisse to merge with UBS was to spark a full-blown global bank crisis, it's hard to argue that it's not done a good job. European and US bank shares were tanking today, with experts laying blame fairly and squarely on the deal by the SNB to rescue Credit Suisse.

The UK banking sector was in disarray once again on Friday with Barclays PLC (LSE:BARC) leading the charge lower. Lloyds Banking Group PLC (LSE:LLOY), HSBC PLC and NatWest PLC were also on the decline.

Lloyds Banking Group PLC (LSE:LLOY), HSBC Holdings PLC (LSE:HSBA), Barclays PLC (LSE:BARC) and NatWest Group PLC (LSE:NWG) made an additional £7bn in 2022 on the back of interest rate rises, according to trade union Unite. Unite slammed the ‘big four' UK banks for treating Bank of England interest rate hikes “as a licence to pick the pockets of householders across Britain,” rather than passing the extra money on by raising their own rates for depositors.

Much has changed since the last update in September, with banks now hogging many of the top spots. Bank shares have gone down in the last couple of weeks and their dividend yields have gone up, because several banks have recently failed.

UK bank shares jumped higher on Tuesday as assurances from the US Treasury Secretary and UK chancellor about their continued support for the sector sparked a surge of buying. Lloyds, Natwest and Barclays all gained between 5% or 6% as Janet Yellen said the situation in the US is stabilising while reiterating the government there would protect deposits at any smaller bank that runs in to trouble.

Barclays is trading at a ridiculous 0.45x tangible book value. It reaffirmed its target of >10%.

Investors in Lloyds Banking Group PLC (LSE:LLOY) and London's other leading banks never had too much fear, that's according to stockbroker Brewin Dolphin, which today described a Lehman-like collapse of Credit Suisse Group AG (NYSE:CS) (Credit Suisse Group AG (NYSE:CS)) as “almost inconceivable.” Moreover, the broker downplayed the chances of similar events in the UK, citing tougher regulation on the likes of Lloyds and Barclays PLC (LSE:BARC).

Peter Oppenheimer, chief global equity strategist at Goldman Sachs, says, "the underlying fundamentals here are pretty good," as he explains why he still likes European banks amid concerns about Credit Suisse Group AG. He speaks on "Bloomberg Surveillance.

CNBC's Julianna Tatelbaum, joins the 'Halftime Report' to discuss European banks tumbling, the force behind the Credit Suisse sell-off and Europe's central bank policy.

Barclays PLC is a GB stock and trading under the symbol BCS

Barclays PLC stock price is $6.6 today.

Yes, Barclays PLC is a publicly traded company.