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

Key Points

• Secure Trust Bank's stock price dropped 20.2% during trading on Friday, falling to GBX 966 ($12.85), primarily after closing at GBX 1,210 ($16.09).
• Despite the recent decline, analysts maintain a "Buy" rating for the stock, with a target price of GBX 1,420, indicating potential growth.
• Insider Jim Brown purchased 20,000 shares at GBX 1,170 per share, signaling confidence in the bank's future prospects.

Shares of Secure Trust Bank PLC (LON:STB - Get Free Report) fell 20.2% during trading on Friday . 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).

Wall Street Analysts Forecast Growth

STB has been the topic of a number of research reports. Berenberg Bank reiterated a "buy" rating and issued a GBX 1,420 price target on shares of Secure Trust Bank in a report on Monday, August 18th. Shore Capital reiterated a "house stock" rating on shares of Secure Trust Bank in a report on Thursday. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of GBX 1,420.

Secure Trust Bank Stock Performance

The business's 50 day moving average is GBX 1,106.38 and its 200 day moving average is GBX 855.14. The stock has a market capitalization 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 released its quarterly earnings results on Thursday, August 14th. The company reported GBX 87.60 EPS 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 anticipate that Secure Trust Bank PLC will post 214.2857143 EPS for the current year.

Insider Activity at Secure Trust Bank

In other Secure Trust Bank news, insider Jim Brown purchased 20,000 shares of Secure Trust Bank stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average price of GBX 1,170 per share, for a total transaction of £234,000. Corporate insiders own 20.19% of the company's stock.

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.