Metro Bank (LON:MTRO) Hits New 12-Month High – Here’s Why

Metro Bank Holdings PLC (LON:MTRO)’s share price hit a new 52-week high on Thursday. The company traded as high as GBX 188.80 and last traded at GBX 185, with a volume of 8,079,854 shares changing hands. The stock had previously closed at GBX 176.80.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada reissued an “outperform” rating and set a GBX 190 price target on shares of Metro Bank in a research report on Wednesday, August 12th. One investment analyst has rated the stock with a Buy rating. Based on data from MarketBeat, Metro Bank has an average rating of “Buy” and an average price target of GBX 190.

Metro Bank Price Performance

The business’s 50-day moving average price is GBX 169.80 and its 200 day moving average price is GBX 154.48. The firm has a market capitalization of £1.29 billion, a price-to-earnings ratio of 24.62 and a beta of 1.09.

Insiders Place Their Bets

In other news, insider Marc Page purchased 27,307 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The shares were purchased at an average price of GBX 183 per share, with a total value of £49,971.81. Also, insider Jaime Gilinski Bacal purchased 500,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were purchased at an average cost of GBX 172 per share, for a total transaction of £860,000. 6.01% of the stock is currently owned by company insiders.

Metro Bank Company Profile

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.