Metro Bank (LON:MTRO) Share Price Breaks Below 200 Day Moving Average - Time to Sell?

Key Points

• Metro Bank shares fell below their 200-day moving average of GBX 152.99, reaching an intraday low of GBX 148.40 and last trading at GBX 152.60.
• Despite the technical weakness, the analyst consensus remains Buy, with Royal Bank of Canada reiterating an outperform rating and a GBX 190 price target.
• Insiders recently bought shares: Marc Page purchased 27,307 shares and Jaime Gilinski Bacal acquired 500,000 shares; insiders own 55.67% of the company.

Metro Bank Holdings PLC (LON:MTRO - Get Free Report) shares crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of GBX 152.99 and traded as low as GBX 148.40. Metro Bank shares last traded at GBX 152.60, with a volume of 1,044,379 shares.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada restated an "outperform" rating and issued a GBX 190 price target on shares of Metro Bank in a research note on Wednesday, August 12th. One analyst has rated the stock with a Buy rating. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of GBX 190.

Metro Bank Stock Performance

The firm's fifty day moving average is GBX 168.65 and its two-hundred day moving average is GBX 152.99. The company has a market cap of £1.03 billion, a P/E ratio of 19.56 and a beta of 1.09.

Insider Activity

In related news, insider Marc Page purchased 27,307 shares of the firm's stock in a transaction that occurred on Friday, September 11th. The shares were purchased at an average cost of GBX 183 per share, with a total value of £49,971.81. Also, insider Jaime Gilinski Bacal acquired 500,000 shares of the firm's stock in a transaction on Wednesday, September 2nd. The stock was purchased at an average price of GBX 172 per share, for a total transaction of £860,000. 55.67% of the stock is owned by company insiders.

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. The company also provides business banking products and services comprising business bank, commercial and community current, foreign currency, and insolvency practitioner accounts; deposit accounts, such as business and community instant access deposit, business notice, client premium and flexible client term deposit, and business and community fixed term deposit accounts; insurance products; and business and commercial loans and overdrafts, asset and invoice financing, bounce back loans, business credit cards, and recovery loan schemes services.

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