Metro Bank (LON:MTRO) Trading Down 10.2% - Time to Sell?

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 was down 10.2% during trading on Wednesday . The stock traded as low as GBX 110.60 ($1.49) and last traded at GBX 112.40 ($1.51). Approximately 8,541,412 shares changed hands during trading, an increase of 336% from the average daily volume of 1,958,078 shares. The stock had previously closed at GBX 125.20 ($1.68).

Analyst Ratings Changes

Separately, Royal Bank Of Canada boosted their price target on Metro Bank from GBX 100 ($1.34) to GBX 150 ($2.02) and gave the stock a "sector perform" rating in a research report on Tuesday, July 8th.

Metro Bank Stock Down 2.0%

The company has a market cap of £737.08 million, a P/E ratio of -30.13 and a beta of 2.33. The firm has a fifty day moving average price of GBX 125.08 and a 200 day moving average price of GBX 107.52.

Metro Bank (LON:MTRO - Get Free Report) last posted 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 net margin of 3.30% and a negative return on equity of 2.18%. On average, sell-side analysts anticipate that Metro Bank Holdings PLC will post 521.5384615 earnings per share for the current 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.