Metro Bank (LON:MTRO) Shares Down 10.2% - Here's What Happened

Key Points

• Metro Bank's share price fell by 10.2%, trading down to GBX 112.40 ($1.50) from the previous close of GBX 125.20 ($1.67).
• The trading volume increased significantly, with over 8.5 million shares changing hands, up 336% compared to its average trading volume.
• The Royal Bank of Canada has raised its price target for Metro Bank to GBX 150 ($2.00) and assigned a "sector perform" rating.

Metro Bank Holdings PLC (LON:MTRO - Get Free Report)'s share price traded down 10.2% during trading on Wednesday . The stock traded as low as GBX 110.60 ($1.48) and last traded at GBX 112.40 ($1.50). 8,541,412 shares traded hands during trading, an increase of 336% from the average session volume of 1,958,078 shares. The stock had previously closed at GBX 125.20 ($1.67).

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada lifted their price objective on Metro Bank from GBX 100 ($1.34) to GBX 150 ($2.00) and gave the stock a "sector perform" rating in a report on Tuesday, July 8th.

Metro Bank Stock Performance

The firm has a market capitalization of £768.53 million, a PE ratio of -31.42 and a beta of 2.33. The company has a fifty day simple moving average of GBX 125.33 and a two-hundred day simple moving average of GBX 107.20.

Metro Bank (LON:MTRO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported GBX 4.50 ($0.06) earnings per share for the quarter. Metro Bank had a negative return on equity of 2.18% and a negative net margin of 3.30%. On average, equities analysts anticipate that Metro Bank Holdings PLC will post 521.5384615 earnings per share for the current fiscal year.

Metro Bank Company Profile

Metro Bank Holdings PLC operates as the bank holding company for Metro Bank PLC that provides various banking products and services in the United Kingdom. It offers personal banking products and services, including current, cash, and foreign currency accounts; savings; residential and buy-to-let mortgages; overdrafts; credit cards; pet insurance; and safe deposit box services.

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