Metro Bank (LON:MTRO) Stock Jumps 17.4% - What's Next?

Key Points

• Metro Bank shares surged 17.4% to GBX 179.20, with trading volume of 84.1 million shares—about 28 times the average daily volume.
• Royal Bank of Canada reaffirmed its “outperform” rating with a GBX 190 price target; MarketBeat data showed a consensus “Buy” rating and the same average target.
• Insiders reported substantial purchases: Jaime Gilinski Bacal bought 500,000 shares, and Marc Page bought 27,307 shares. Insiders collectively own 55.67% of the company.

Metro Bank Holdings PLC (LON:MTRO - Get Free Report) traded up 17.4% during trading on Wednesday. The stock traded as high as GBX 180.80 and last traded at GBX 179.20. Approximately 84,088,422 shares were traded during mid-day trading, an increase of 2,784% from the average daily volume of 2,915,395 shares. The stock had previously closed at GBX 152.60.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada reaffirmed an "outperform" rating and set a GBX 190 target price on shares of Metro Bank in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Buy rating. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of GBX 190.

Metro Bank Stock Up 17.4%

The company has a market capitalization of £1.21 billion, a P/E ratio of 22.97 and a beta of 1.09. The company has a 50-day moving average of GBX 168.65 and a two-hundred day moving average of GBX 152.99.

Insider Buying and Selling at Metro Bank

In other Metro Bank news, insider Marc Page bought 27,307 shares of the company's stock in a transaction dated Friday, September 11th. The shares were purchased at an average price of GBX 183 per share, for a total transaction of £49,971.81. Also, insider Jaime Gilinski Bacal bought 500,000 shares of Metro Bank stock in a transaction dated Wednesday, September 2nd. The stock was acquired at an average cost of GBX 172 per share, for a total transaction of £860,000. Company insiders own 55.67% of the company's stock.

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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