Geoffrey Belsher, a seasoned investment banker, is set to assume his new role as chairman and CEO for Barclays Plc in Canada starting Monday. Belsher, previously associated with Canadian Imperial Bank of Commerce and Lehman Brothers, will be based in Toronto. His appointment follows the departure of several Barclays bankers to Jefferies Financial Group’s Canadian unit, including ex-CEO Bruce Rothney and John Aiken.
Belsher's responsibilities will include reporting to Richard Haworth, Barclays’ CEO of the Americas, as well as Cathal Deasy and Taylor Wright, the co-heads of investment banking at Barclays. His appointment comes as part of Barclays' growth strategy in the Americas, underlining its commitment to the Canadian market where it has maintained a presence for 100 years.
Barclays, a prominent player in the Banks industry according to InvestingPro Tips, is currently trading at a low P/E ratio relative to near-term earnings growth. The company, which has a market capitalization of 28.09B USD as per InvestingPro data, is also trading at a low Price / Book multiple. This suggests that the company's stock is currently undervalued relative to its assets and earnings.
The company has also been profitable over the last twelve months, with an operating income of 9825.64M USD. This profitability is expected to continue, as analysts predict the company will be profitable this year. This is an encouraging sign for potential investors, as it indicates a strong financial performance and potential for future growth.
With a dividend yield of 3.53%, Barclays has raised its dividend for 3 consecutive years, demonstrating a commitment to returning capital to shareholders. However, it's worth noting that the company's revenue growth has been slowing down recently, with a quarterly revenue growth of -9.14%.
For those interested in learning more about the company's financial performance and getting further insights, additional InvestingPro Tips can be found here. There are also real-time metrics available on InvestingPro that provide a comprehensive view of the company's financial health.
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