Metro Bank (LON:MTRO) Shares Pass Above Fifty Day Moving Average – Here’s Why

Metro Bank Holdings PLC (LON:MTRO) passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of GBX 170.60 and traded as high as GBX 180. Metro Bank shares last traded at GBX 173, with a volume of 1,120,541 shares traded.

Analyst Ratings Changes

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

Metro Bank Price Performance

The business has a fifty day simple moving average of GBX 170.60 and a two-hundred day simple moving average of GBX 146.61. 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.