Metro Bank (LON:MTRO) Trading Down 1.5% - Here's What Happened

Key Points

• Metro Bank shares decreased by 1.5% during trading, closing at GBX 129 ($1.70) after hitting a low of GBX 128.76.
• Royal Bank of Canada has raised their price target on Metro Bank from GBX 100 ($1.32) to GBX 150 ($1.98) while maintaining a “sector perform” rating.
• The bank has a market cap of £882.03 million and a negative price-to-earnings ratio of -36.06, indicating financial instability.

Metro Bank Holdings PLC (LON:MTRO - Get Free Report)'s stock price dropped 1.5% on Thursday . The stock traded as low as GBX 128.76 ($1.71) and last traded at GBX 129 ($1.71). Approximately 2,684,540 shares were traded during trading, an increase of 39% from the average daily volume of 1,932,806 shares. The stock had previously closed at GBX 131 ($1.74).

Analysts Set New Price Targets

Separately, Royal Bank Of Canada boosted their price target on Metro Bank from GBX 100 ($1.33) to GBX 150 ($1.99) and gave the stock a "sector perform" rating in a research report on Tuesday, July 8th.

Metro Bank Stock Performance

The firm has a market capitalization of £845.11 million, a price-to-earnings ratio of -34.55 and a beta of 2.33. The business has a fifty day moving average of GBX 125.18 and a two-hundred day moving average of GBX 106.72.

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.