Metro Bank logo

MTRO - Metro Bank News Story

197p -1.8  -0.9%

Last Trade - 13/12/19

Sector
Financials
Size
Small Cap
Market Cap £339.7m
Enterprise Value £588.7m
Revenue £404.1m
Position in Universe 672nd / 1841

BUZZ-Metro Bank jumps as retail buyers cling to takeover hopes

Thu 24th October, 2019 11:51am
(Add analyst comments, graphic; updates share moves) ** Shares of Metro Bank MTRO.L up 8.1%, despite a grim earnings report from late on Wednesday ** With stock hovering around record lows, a trader says retail investors see a buying opportunity, especially after CEO Craig Donaldson hinted that co could consider takeover offers ** "Should something occur, we will treat it with the right respect because that's the fiduciary duty of the Board" Donaldson said about a possible buyout offer on a call with analysts ** Co on Wednesday reported a Q3 loss, said its Chairman Vernon Hill had stepped down and warned it may have to curb its growth plans as it battles to recover from an accounting scandal urn:newsml:reuters.com:*:nL5N2781ES ** MTRO's Q3 net interest margin — a gauge of a lender's profitability — slumped to 1.58% from 1.82% ** "We anticipate that Metro will morph towards a lower growth strategy, remaining open to tactical portfolio disposals, or even a sale of the entire business," analysts at Investec say ** MTRO market cap has fallen to 332.7 mln pounds as at Wednesday's close, from 3.8 bln pounds before the accounting error was disclosed ** Shares have plummeted nearly 90% so far in 2019 and have traded below their 50-day mov. avg. price since late May <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Metro shares https://tmsnrt.rs/2PdvXWL ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Muvija M and Uday Sampath in Bengaluru) ((muvija.m@tr.com))
© Stockopedia 2019, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.