Metro Bank (LON:MTRO) Stock Crosses Below 50 Day Moving Average – Here’s What Happened

Shares of Metro Bank Holdings PLC (LON:MTRO) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of GBX 172.58 and traded as low as GBX 163.40. Metro Bank shares last traded at GBX 165.37, with a volume of 988,504 shares changing hands.

Analysts Set New Price Targets

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

Metro Bank Stock Performance

The firm’s 50-day simple moving average is GBX 172.72 and its 200 day simple moving average is GBX 150.17. The company has a market cap of £1.17 billion, a P/E ratio of 22.47 and a beta of 1.08.

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.