Metro Bank (LON:MTRO) Stock Jumps 17.4% – What’s Next?

Metro Bank Holdings PLC (LON:MTRO)’s share price shot up 17.4% on Wednesday. The stock traded as high as GBX 180.80 and last traded at GBX 179.20. 84,088,422 shares traded hands 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 restated an “outperform” rating and set a GBX 190 price target on shares of Metro Bank in a research report on Wednesday, August 12th. One analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of GBX 190.

Metro Bank Trading Down 1.5%

The firm has a market capitalization of £1.21 billion, a P/E ratio of 23.00 and a beta of 1.09. The company’s fifty day simple moving average is GBX 169.13 and its 200 day simple moving average is GBX 153.49.

Insider Activity

In other news, insider Marc Page acquired 27,307 shares of the business’s stock in a transaction on Friday, September 11th. The shares were acquired at an average cost of GBX 183 per share, with a total value of £49,971.81. Also, insider Jaime Gilinski Bacal bought 500,000 shares of Metro Bank stock in a transaction on Wednesday, September 2nd. The shares were purchased at an average price of GBX 172 per share, for a total transaction of £860,000. 55.67% of the stock is owned by 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.