Secure Trust Bank (LON:STB) Shares Down 20.2% - Here's What Happened

Key Points

• Secure Trust Bank shares fell 20.2% on Thursday, dropping to as low as GBX 942 ($12.53) from a previous close of GBX 1,210 ($16.09). This significant decline came with an unusual trading volume of 848,824 shares, a 624% increase from the average.
• Despite the recent drop, analysts maintain an average rating of "Buy" for Secure Trust Bank, with a target price of GBX 1,420, reflecting confidence in the company's long-term potential.
• In insider activity, Jim Brown purchased 20,000 shares at an average cost of GBX 1,170, indicating continued investment from insiders despite the stock's recent performance.

Shares of Secure Trust Bank PLC (LON:STB - Get Free Report) traded down 20.2% during trading on Thursday . The stock traded as low as GBX 942 ($12.53) and last traded at GBX 966 ($12.85). 848,824 shares changed hands during trading, an increase of 624% from the average session volume of 117,200 shares. The stock had previously closed at GBX 1,210 ($16.09).

Analysts Set New Price Targets

A number of research analysts have weighed in on STB shares. Berenberg Bank reiterated a "buy" rating and issued a GBX 1,420 price objective on shares of Secure Trust Bank in a research report on Monday, August 18th. Shore Capital reaffirmed a "house stock" rating on shares of Secure Trust Bank in a report on Thursday. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of GBX 1,420.

Secure Trust Bank Price Performance

The business's 50 day moving average price is GBX 1,106.38 and its 200 day moving average price is GBX 855.14. The firm has a market cap of £180.05 million, a PE ratio of 952.66, a PEG ratio of 0.11 and a beta of 0.87.

Secure Trust Bank (LON:STB - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported GBX 87.60 earnings per share for the quarter. Secure Trust Bank had a net margin of 7.20% and a return on equity of 7.43%. As a group, analysts predict that Secure Trust Bank PLC will post 214.2857143 earnings per share for the current year.

Insider Activity

In other news, insider Jim Brown purchased 20,000 shares of the stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average cost of GBX 1,170 per share, with a total value of £234,000. 20.19% of the stock is owned by corporate insiders.

About Secure Trust Bank

Secure Trust Bank is an established, well‐funded and capitalised UK retail bank with over 70‐years of trading history. Secure Trust Bank operates principally from its head office in Solihull, West Midlands. The Group's diversified lending portfolio currently focuses on two sectors: • Business finance through its Real Estate Finance and Commercial Finance divisions, and • Consumer finance through its Vehicle Finance and Retail Finance divisions. Secure Trust Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Secure Trust Bank PLC, Yorke House, Arleston Way, Solihull, B90 4LH.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.