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MTRO - Metro Bank News Story

197p -1.8  -0.9%

Last Trade - 13/12/19

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*: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 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Muvija M and Uday Sampath in Bengaluru) ((
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