Metro Bank (LON:MTRO) Reaches New 12-Month High – Still a Buy?

Metro Bank Holdings PLC (LON:MTRO)’s stock price hit a new 52-week high on Wednesday . The company traded as high as GBX 181.60 and last traded at GBX 180.80, with a volume of 878180 shares traded. The stock had previously closed at GBX 175.60.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada upgraded shares of Metro Bank to an “outperform” rating and lifted their price objective for the company from GBX 170 to GBX 195 in a research note on Thursday, May 28th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of GBX 195.

Metro Bank Stock Performance

The business has a 50-day simple moving average of GBX 165.74 and a two-hundred day simple moving average of GBX 142.12. The company has a market capitalization of £1.20 billion, a price-to-earnings ratio of 23.22 and a beta of 1.08.

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.