Metro Bank (LON:MTRO) Hits New 1-Year High – Still a Buy?

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

Analysts Set New Price Targets

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

Metro Bank Stock 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 cap of £1.29 billion, a price-to-earnings ratio of 24.62 and a beta of 1.09.

Insider Activity

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

About Metro Bank

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.