Metro Bank Share Discussion Threads

[kreature] 13/3/2024 08:04

Bit of a damp squib reaction. I’m as bullish as the rest of you, but why are you not highlighting the negatives?

[the imperialist] 13/3/2024 08:00

What was the share price in 2018?

[blackhorse23] 13/3/2024 07:59

At least the bank turning round to growth & profits 1st time since 2018

[the imperialist] 13/3/2024 07:59

Agreed, but the results overall were impressive and taking a forward look, I could see 300-500p within the next 2-3 years if allowed to progress organically. RR type recovery.

Still a sitting duck though, so don't expect it to ever reach even 200p.

[kreature] 13/3/2024 07:58

Commercial and consumer portfolios have both decreased

[paul planet earth1] 13/3/2024 07:58

40 muppets on a Hull caravan site just all simultaneously sh@t themselves LMFAO..JOEY F@@KING LOSER!

[kreature] 13/3/2024 07:55

We shouldn’t ignore the negatives tbf

[imjustdandy] 13/3/2024 07:51

Sitting duck for a takeover at these levels. Need to get back over a pound quickly which looks nailed on regardless

[dealy] 13/3/2024 07:51

Great results. The climate for small cap stocks though is so dysfunctional that we can probably buy more stock here today for a modestly higher price than yesterday

[imjustdandy] 13/3/2024 07:42

This bank is on a forward PE of 1 when you take full account of the 80m savings still to feed through

[orkneyarab] 13/3/2024 07:41

Last time I looked in here, donkey said it was going bust.

[blackhorse23] 13/3/2024 07:41

I like the new billionaire owner & he will push for growth for his own interest , he is a businessman so he will bring this bank at right direction

[the imperialist] 13/3/2024 07:40

Excellent work Paul. Appreciate you keeping the faith in the face of Joe's lies.

[paul planet earth1] 13/3/2024 07:39

Another £30m annual saving to add at 8.75% equates to 50p on top of current 34p share price!

£80m cost savings bl@@dy Nora!

This is going to f@@king rocket £30m statutory profit x3 concensus!

[the imperialist] 13/3/2024 07:37

Massive additional cost savings too. The new guy, and his newly formed A Team are doing the business. 100p is the first target, it won't come today/tomorrow, but expect it by the summer.

[blackhorse23] 13/3/2024 07:35

Excellent results , 1st profit of 30m , deposit up , revenue up , growth forecast is good

[paul planet earth1] 13/3/2024 07:35

Thunderbirds are go!

It's a 🚀 👩‍Ԇ40;!



Statutory profit before tax of £30.5 million for the year, the first time since 2018, with a 67% year-on-year reduction in underlying loss to £16.9 million.

Deposits of £15,623 million as at 31 December 2023 are up 1% from June leading to an elevated liquidity coverage ratio of 332% as at 31 December 2023.

Underlying revenue grew by 5% year-on-year reflecting effective asset rotation and increased yields plus 12% growth in capital efficient fee income, whilst costs marginally reduced, creating positive operating jaws.

Continued to grow personal and business current accounts, opened 246,000 accounts in the year and over 52,000 of those were in the fourth quarter.

On track to deliver £50 million of annualised cost savings in Q1 2024 as previously announced, these savings have been actioned with c.1,000 colleagues, equal to 22% of headcount, leaving before mid-April

A further £30 million of annualised cost savings is expected to be delivered by the end of 2024

Remain committed to stores, including opening new stores in the North of England.

Secured the capital position and extended the debt instrument maturities to 2028 or beyond.

[the imperialist] 13/3/2024 07:33

Markets as we know are forward looking. Are we heading in the right direction? Absolutely!

[imjustdandy] 13/3/2024 07:31

£80m of cost savings to feed through in Q1 and Q2 respectively. Thats almost the same amount as their market cap. I think the bottom is well in now.

[the imperialist] 13/3/2024 07:22

Metro Bank Holdings plc (LSE: MTRO LN)

Results for year ended 31 December 2023



Highlights


Statutory profit before tax of £30.5 million for the year, the first time since 2018, with a 67% year-on-year reduction in underlying loss to £16.9 million


Deposits of £15,623 million as at 31 December 2023 are up 1% from June leading to an elevated liquidity coverage ratio of 332% as at 31 December 2023


Underlying revenue grew by 5% year-on-year reflecting effective asset rotation and increased yields plus 12% growth in capital efficient fee income, whilst costs marginally reduced, creating positive operating jaws


Continued to grow personal and business current accounts, opened 246,000 accounts in the year and over 52,000 of those were in the fourth quarter


On track to deliver £50 million of annualised cost savings in Q1 2024 as previously announced, these savings have been actioned with c.1,000 colleagues, equal to 22% of headcount, leaving before mid-April


A further £30 million of annualised cost savings is expected to be delivered by the end of 2024


Remain committed to stores, including opening new stores in the North of England


Secured the capital position and extended the debt instrument maturities to 2028 or beyond

[imjustdandy] 13/3/2024 07:22

Anyone short on this stock will be smashed today. This bank is on a forward PE of 1 when you take full account of the £80m cost savings still to feed through in Q1.

[oakville] 13/3/2024 07:22

Current share price now looks silly on the back of that update.

[kreature] 13/3/2024 07:22

‘ The consumer portfolio has also decreased to £1,297 million (31 December 2022: £1,480 million) ‘

[oakville] 13/3/2024 07:21

Didn't see this coming !