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

Key Points

• Secure Trust Bank shares fell by 20.2%, closing at GBX 966 ($12.85), significantly down from the previous closing price of GBX 1,210 ($16.09).
• Despite the recent drop, analysts maintain a consensus "Buy" rating for the stock, with a target price of GBX 1,420.
• Insider Jim Brown purchased 20,000 shares at GBX 1,170 per share, indicating confidence in the company's future.

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

Analyst Ratings Changes

A number of research firms have weighed in on STB. Berenberg Bank restated a "buy" rating and issued a GBX 1,420 price target on shares of Secure Trust Bank in a research note on Monday, August 18th. Shore Capital restated a "house stock" rating on shares of Secure Trust Bank in a research note on Thursday. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of GBX 1,420.

Secure Trust Bank Stock Down 20.2%

The stock has a fifty day moving average of GBX 1,106.38 and a 200-day moving average of GBX 855.14. The stock has a market cap of £180.05 million, a PE ratio of 952.66, a price-to-earnings-growth ratio of 0.11 and a beta of 0.87.

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

Insider Activity at Secure Trust Bank

In related news, insider Jim Brown acquired 20,000 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average cost of GBX 1,170 per share, for a total transaction of £234,000. 20.19% of the stock is owned by company insiders.

Secure Trust Bank Company Profile

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.

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