Metro Bank (LON:MTRO) Stock Breaks Below Fifty Day Moving Average – What’s Next?

Metro Bank Holdings PLC (LON:MTRO)’s stock price passed below its fifty day moving average during trading on Friday. The stock has a fifty day moving average of GBX 171.80 and traded as low as GBX 165.40. Metro Bank shares last traded at GBX 167.20, with a volume of 589,390 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada reissued an “outperform” rating and issued a GBX 190 price objective on shares of Metro Bank in a research note on Wednesday, August 12th. One investment 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 target price of GBX 190.

Metro Bank Price Performance

The company has a 50-day simple moving average of GBX 171.80 and a 200-day simple moving average of GBX 162.66. The stock has a market cap of £1.13 billion, a PE ratio of 21.44 and a beta of 1.09.

Insiders Place Their Bets

In related news, insider Jaime Gilinski Bacal acquired 500,000 shares of Metro Bank stock in a transaction that occurred on Wednesday, September 2nd. The stock was purchased at an average price of GBX 172 per share, for a total transaction of £860,000. Also, insider Marc Page acquired 27,307 shares of Metro Bank stock in a transaction that occurred on Friday, September 11th. The stock was bought at an average price of GBX 183 per share, with a total value of £49,971.81. Corporate insiders own 55.67% of the company’s stock.

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.