We investigate the dynamics of a delayed neural network model consisting of identical neurons. We first analyze stability of the zero solution and then study the effect of time delay on the dynamics of the system. We also investigate the steady state bifurcations and their stability. The direction and stability of the Hopf bifurcation and the pitchfork bifurcation are analyzed by using the derived normal forms on center manifolds. Then, the spatiotemporal patterns of bifurcating periodic solutions are investigated by using the symmetric bifurcation theory, Lie group theory and 1 -equivariant degree theory. Finally, two neural network models with four or seven neurons are used to verify our theoretical results.