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

Key Points

• Metro Bank's stock fell by 10.2% in a single day, closing at GBX 112.40 ($1.50) after trading as low as GBX 110.60 ($1.48).
• The Royal Bank of Canada raised their price target for Metro Bank from GBX 100 ($1.34) to GBX 150 ($2.00) while maintaining a "sector perform" rating.
• Metro Bank reported a negative return on equity of 2.18% and a negative net margin of 3.30%, with earnings per share of GBX 4.50 ($0.06) for the last quarter.

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

Wall Street Analyst Weigh In

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

Metro Bank Stock Performance

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. The company has a market capitalization of £738.31 million, a price-to-earnings ratio of -30.18 and a beta of 2.33.

Metro Bank (LON:MTRO - Get Free Report) last issued its quarterly earnings results 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%. As a group, analysts expect that Metro Bank Holdings PLC will post 521.5384615 EPS for the current year.

About Metro Bank

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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