Don't Bank on Barclays

British bank Barclays (NYSE: BCS) looks like it will miss its profit goal after suffering its worst quarter in three years.The euro zone debt crisis led to a slump in bond trading which in turn dragged down Barclays' annual profit. This then led CEO Bob Diamond to push back a return on equity target of 13 percent which he had set less than a year ago.According to Reuters, Berenberg Bank analyst Alex Potter said that, “The idea of 13 percent is pie in the sky, and even getting to 10 percent is a long way away.”As a result of the 2011 full-year profit slump, Barclays announced that it would be capping bonuses, although Diamond declined to say whether he himself would be receiving a bonus, according to the Wall Street Journal.Barclays said that its net profit for F&2011 fell a full 8 percent to 3 billion pound ($4.75 billion). Meanwhile, the adjusted return on equity fell to 6.6 percent from 6.8 percent the previous year. That number is well below Barclays' target of 13 percent.So BCS announced that it would be capping bonuses in an effort to calm the water, as analysts and investors alike scrambled to damn the bank. ...

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