Share Name Share Symbol Market Type Share ISIN Share Description
Metro Bank Plc LSE:MTRO London Ordinary Share GB00BZ6STL67 ORD 0.0001P
  Price Change % Change Share Price Shares Traded Last Trade
  0.60 0.31% 193.60 2,008,913 16:35:24
Bid Price Offer Price High Price Low Price Open Price
191.50 192.60 200.80 190.30 190.30
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Banks 444.40 40.60 29.10 6.7 334
Last Trade Time Trade Type Trade Size Trade Price Currency
17:29:16 O 61,518 193.60 GBX

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Date Time Title Posts
23/10/201918:57Metro Bank17,149
23/10/201917:22METRO BANK - Moderated 2,431
22/10/201920:22MTRO Podcast ahead of Q3 Results Tomorrow...-
22/10/201914:33METROBANK Flea-bitten dog86
18/10/201918:30Metro Bank Undervalued 14

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17:29:51193.6061,518119,098.85O
16:29:16193.594,6679,034.85O
16:22:00193.607501,452.00O
16:19:47195.0917,24533,643.10O
16:18:15195.2316,20431,634.91O
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DateSubject
23/10/2019
09:20
Metro Bank Daily Update: Metro Bank Plc is listed in the Banks sector of the London Stock Exchange with ticker MTRO. The last closing price for Metro Bank was 193p.
Metro Bank Plc has a 4 week average price of 155.20p and a 12 week average price of 155.20p.
The 1 year high share price is 2,596p while the 1 year low share price is currently 155.20p.
There are currently 172,420,458 shares in issue and the average daily traded volume is 2,133,179 shares. The market capitalisation of Metro Bank Plc is £333,806,006.69.
23/10/2019
15:56
fearnwood: City AM article this afternoon: Metro Bank’s quarterly results this evening come after a torrid spell for the high street lender. In the last eight months the bank has suffered crashing profits, a failed bond issue and a senior shake-up of management, following the discovery of a major accounting issue in January. Today’s quarter three statement will be the latest sign of how the bank has fared in the wake of its recent troubles. Here is what to look out for: Change of direction? Investors will be looking out for any indication of where Metro Bank plans to take its business strategy. The firm’s emphasis on customer service has helped it stand out since being founded almost a decade ago. Bowls for dog food, prolonged opening hours and new high street designs all added to Metro’s image after trust in the traditional banks was rocked by the financial crash. However, as AJ Bell investment director Russ Mould points out: “For some customers this was ideal but, for one thing it costs a lot of money and for another, an increasing number of people just want fast convenient online banking.” He added: “The company may have raised funds at the second attempt to shore up its capital position earlier this month but it will be interesting to see if Hill’s departure leads to a change of approach for the business going forward.” The balance sheet Profit (or the lack of) and money flows will be front and centre in tonight’s news headlines. In July the firm revealed an 84 per cent plunge in profits for the first half of this year, with customers withdrawing £2bn. The lender blamed “intense speculation” for the outflow of cash, but this evening investors will be finding out how much that continued in the last three months. Shore Capital banking analyst Gary Greenwood suspects the focus “will be on the extent of any further net interest margin pressure given the competitive environment, and whether there have been any further deposit outflows”. New boss in town? Ahead of this evening’s results, Metro Bank surprised the City by revealing that its colourful co-founder was heading for the exit even earlier than expected. “It’s a wonder Mr Hill managed to survive this long in his role, but when it comes to the departure, it’s better late than never. The group needs to overhaul its senior management to shake-off the immense reputational damage it has endured,” said David Madden, market analyst at CMC Markets. Replacing Hill on an interim basis is Michael Synder, a senior independent director at the firm, but analysts and journalists alike will be looking out for any indication on who will replace Hill on a permanent basis. Share price volatility Today’s results come after the bell, so shares will not be traded immediately. But tomorrow morning will be an important moment to see how investors have reacted to the latest set of quarterly results. Metro’s share price over the last year has collapsed by more than 90 per cent. Trading at more than 2,500p this time last year, the stock is now going for less than 200p. Today’s update on Vernon Hill’s departure has at least bumped shares up by one per cent, but any real movements are likely to come tomorrow morning after the City has digested what chief executive Craig Donaldson has to say today.
16/10/2019
06:57
leoneobull: WOW - hxxps://contrarianinvestor.net/posts/2019/10/15/contrarian-investor-portfolio-review-october-16th-2019 Metro Bank (MTRO) Average purchase price 210p Current share price 204p Even with the Brexit banking bounce Metro Bank hasn’t benefitted, compare with Lloyds bank for example. At 204p, the bank looks very undervalued, even with all the bad news over the last few months. The bank won’t go bust after a succesful bond issue (albeit at 9.5% coupon) and it looks very cheap versus book value. It has come down from 3000p in 2018 and the last placing in May was at 500p. Vernon HIll has been forced to leave to get the MREL related bond issue away and there are rumours that he is trying to take MTRO private. Hedge funds are shorting but upside on any good news looks strong. See full SWOT analysis on Metro Bank at hxxps://contrarianinvestor.net/posts/2019/10/9/swot-analysis-for-metro-bank-good-punt-or-too-risky It has been a challenging year for Metro Bank, with the lender facing intense speculation over the health of its balance sheet earlier this year due to a £900 million accounting error. However, concerns have been redcued after the bank successfully raised £375 million via a share placing in mid-May which was over subscribed. In September MTRO raised $350 million in a bond issue. The bank is likely looking to put the first half of 2019 far behind it and instead focus on delivering costs efficiencies and continued growth in capital-light fee income. The bank is also busily expanding its presence in the North of England in the hopes of empowering growth for SMEs in cities like Manchester, Liverpool and Birmingham. Metro Bank plans to open around 10 new branches in 2019. Highly capitalised - after ¢350 million bonds fundraise in September and $375 million equity raise in May to meet MREL (Minimum Requirement for Own Funds and Eligible Liabilities) requirements, oversubscribed. See more on MREL, SRB, and BRRD in link: Is the Bank of England behind the Metro Bank Chaos? Deposits of £13,7 billion, net outflows of £2 billion in H1 2019 caused by bad publicity (buy July has seen £700 million in net in-flows) Year on year loan growth of £3 billion to £15 billion Number one bank in UK for quality of service according to latest Competition and Market Authorities Survey. Watchdog BBC calls them the No.1 UK bank for customer service. Customer account growth of 190,000 to over 1.8 million, though rate of growth down from 201,000 in H1 2018. Net book value over £10 per share, compared with £2.10 share price Full banking licence in the UK Increasing number of UK branches Good initiatives with Fin Tech companies to improve service and customer analytics. The shares have lost more than 85% of their value since the beginning of January, with the Metro Bank’s share price closing at 204p on Tuesday’s session, down from the £17 levels it saw at the start of the year. The management says 2019 is a ‘year of transition’, with the lender focused on upgrading its cost savings guidance to the upper end of its original range and rebalancing its lending mix. Q3 earnings are key on October 23rd and watch this space for a replacement for Vernon hill.
10/10/2019
15:12
liberace pickles: Where the combined value of the above share price before actual assimilation remains greater than the combined value of the share prices after assimilation, the former level of share price will be protected. These protection arrangements apply to the combined share prices before and after assimilation, not to individual share price components, excepting the provision relating to retention of existing shorting arrangements. So 220p.
09/10/2019
11:31
pre: Posted on LSE thread: ymas Posts: 15 Price: 204.40 No Opinion RE: Unusual share price movementsToday 11:27 In our current "reality", there are three types of players: "Sources", "Sponsors" and "Sponsored". Sources create capital and sponsors lend capital to those who want it (the sponsored parties). Sources are on our speed dial list. Shorts have a few medium to small sponsors (their combined net worth is peanuts). VH has every right to be annoyed, the shorts tried to cause a run on MTRO. The level of restraint shown by MTRO is truly inspirational. Kudos to the upper echelons. MTRO's business model is that of opening branches so it is a major supporter of the dying retail sector, consequently, shorts are messing with a lot more "sponsors" (some are very powerful) than they think. Fundamentals don't matter for the next few weeks. If MTRO decides to respond, it won't be a "fight", it'll be a massacre. Let's hope the shorts' AI is intelligent enough to point that out to them. Stochastic calculus is not on their side. GLTA!
09/10/2019
08:38
cyberdog1979: I was asked earlier why I didn�t believe �5 would be offered if taken private. With shorts increasing its looking more likely that they know bad results are coming. Therefore even if taken private by vernon hill he will likely wait until results are posted share price reduces further and then the �premium� on the shares at that point could be �1 - 1.50 depending on where the share price goes. The agreement between him and major shareholders is an increased return based on future success of the business with us small shareholders being shafted. I very much hope this isn�t the case but it�s one of a few potential scenarios that must be considered
05/10/2019
08:02
chinese investor: An exceptionally volatile day yesterday, October 4 2019, as the price for MTRO shares dropped at the open to 181p. Following a volatile morning, the shares began to rise after 2pm on news that Boris Johnson, through the Scottish Parliament prorogation of parliament legal action, has notified the court that he will seek an extension of the Brexit deadline of October 31st if a deal with the EU has not been agreed by October 19. As a hard Brexit is expected to have a large effect on sentiment and the banking sector in the UK, this was good news for MTRO as a deal now looks more likely and the risk of a hard exit appears to be dissipating. The shares then rose sharply in the last couple of hours of trading, finally moving into positive territory by 4pm and closing at 202p, compared with 193p, the day before. up over 4.4% and nearly 10% versus the morning lows. The reason appears to be hopes that Vernon Hill, Chairman, may be making plans to take the bank private as reported in the Telegraph. At 202p, market cap is £348 million, almost the same as the £350 million raised in the bond offer this week. At these levels, the market is pricing MTRO purely at this cash levels and ignores it substantial assets. As far as I can see from the bond prospectus, as long as there is not a disorderly Brexit, the bank looks well placed with very strong customer satisfaction levels. Something that could be appealing for someone wanting to buy a challenger bank. I have been buying MTRO, with a 190p average, and look forward to news flow ahead. The departure of Vernon Hill this year means any news on the replacement interesting. MTRO is bombed out, but maybe too much so. It doesn’t appear to be going bust as the new money means the bank comfortably meets its capital requirements for MREL (minimum requirement for own funds and eligible liabilities). This is a volatile share, but the fundamentals look good enough at these share price levels to make a substantial speculative buy for my portfolio. Please DYOR. Given the IPO was at £20, placing in 2018 at £34 and 2018 at £5 in May 2019, a private buy out would need to be a lot more than £2 for existing investors to go for it, should the rumours be accurate. Q3 2019 results are due October 23rd. Vernon Hill replacement in next few weeks?
05/10/2019
07:10
leoneobull: Metro Bank Share price action October 4th An exceptionally volatile day yesterday, October 4 2019, as the price for MTRO shares dropped at the open to 181p. Following a volatile morning, the shares began to rise after 2pm on news that Boris Johnson, through the Scottish Parliament prorogation of parliament legal action, has notified the court that he will seek an extension of the Brexit deadline of October 31st if a deal with the EU has not been agreed by October 19. As a hard Brexit is expected to have a large effect on sentiment and the banking sector in the UK, this was good news for MTRO as a deal now looks more likely and the risk of a hard exit appears to be dissipating.The shares then rose sharply in the last couple of hours of trading, finally moving into positive territory by 4pm and closing at 202p, compared with 193p, the day before. up over 4.4% and nearly 10% versus the morning lows. The reason appears to be hopes that Vernon Hill, Chairman, may be making plans to take the bank private as reported in the Telegraph. see further reading below. At 202p, market cap is £348 million, almost the same as the £350 million raised in the bond offer this week. At these levels, the market is pricing MTRO purely at this cash levels and ignores it substantial assets. As far as I can see from the bond prospectus, as long as there is not a disorderly Brexit, the bank looks well placed with very strong customer satisfaction levels. Something that could be appealing for someone wanting to buy a challenger bank. I have been buying MTRO, with a 190p average, and look forward to news flow ahead. The departure of Vernon Hill this year means any news on the replacement interesting. MTRO is bombed out, but maybe too much so. It doesn't appear to be going bust as the new money means the bank comfortably meets its capital requirements for MREL (minimum requirement for own funds and eligible liabilities). This is a volatile share, but the fundamentals look good enough at these share price levels to make a substantial speculative buy for my portfolio. Please DYOR.Given the IPO was at £20, placing in 2018 at £34 and 2018 at £5 in May 2019, a private buy out would need to be a lot more than £2 for existing investors to go for it, should the rumours be accurate.Q3 2019 results are due October 23rd. Vernon Hill replacement in next few weeks?
02/10/2019
19:06
chinese investor: It is never easy for a founder to let go of the business they created. Many entrepreneurs liken companies they have founded to their children and, while the metaphor may sound glib, it is often appropriate. People who found companies invariably spend more time running them than they do with their families. For such people, parting company is harder still when they have not had control over the timing. That looks to have been the case with today's news that Vernon Hill will be stepping down as chairman of Metro Bank by the end of the year. After all, it was only in July this year that Mr Hill was insisting he would "probably die" in the role. That remark is understood to have gone down badly with shareholders and he was subsequently obliged to insist to the Financial Times that the comment was "a little bit of a jest". Metro Bank opened its first site in 2010 and emphasises branch-based customer service seven days per week Just days later, the challenger bank announced it "will start the process of recruiting an independent, non-executive chair", a pledge calculated to keep investors onside - but which was tarnished by Metro's insistence that Mr Hill would be remaining on the board as "non-executive director, founder and president". The news, which came on the same day that Metro Bank admitted that its customers had pulled £2bn worth of deposits during the first six months of the year, sent the shares to a new all-time low. So today's announcement is a crucial step towards regaining the support of shareholders. As John Cronin, UK financials analyst at the stockbroker Goodbody, put it: "We suspect that potential replacement candidates would be reluctant to take on the role with Hill still on the board. "It is notable that Hill did not comment for the purposes of the announcement and we suspect that a majority of the board members wanted to see this happen. "While Hill's vision has been constructive in the context of securing equity backing for the Metro Bank story, the ever-increasing challenges that the bank is facing, including regulatory challenges, means that board refreshment seems necessary." Mr Hill's departure comes at a critical juncture for Metro Bank. The share price had, prior to today's news, fallen by more than 90% since the lender issued a profits warning in January related to the misclassification of some £900m worth of loans. Vernon Hill, who previously established Commerce Bank in the US, has used his dogs to help publicise Metro Bank. Adding to the pressure has been a requirement to raise a minimum of £250m by January in order to meet a rule called the minimum requirement for own funds and eligible liabilities' (MREL). This is debt that converts into 'loss-absorbing' equity should a bank get into financial distress and all banks are required by regulators to issue it. To meet this requirement, Metro Bank sought to raise £250m by issuing bonds, but the issue was pulled last week. Not enough investors were prepared to commit money despite a promised yield of 7.5% - undoubtedly reflecting unhappiness among some investors at the proposals for Mr Hill to linger on the board. Plans for a fundraising were revived today, this time with a higher yield of 9.5%, and, with Metro Bank looking to raise £300m, it had already received orders worth £475m by this lunchtime. The shares promptly jumped by nearly a third. Along with the higher rate of interest, of course, it would appear that Mr Hill's departure will have encouraged bond investors to come forward. It must all be a bit of a comedown to the 74-year-old. He and his Yorkshire terrier, Sir Duffield, won a cult following when, in 2010, Metro Bank opened its doors to the public promising to breathe life back into branch banking. Its branch openings were pure showbiz, with stilt-walkers, face-painting and waitresses handing out free popcorn. The branches, described as 'stores', indeed appeared like a breath of fresh air to British banking customers - described as 'fans' - more used to seeing branches closing than opening. Each brightly-coloured branch, boasting longer opening hours than the competition, even promised to be pet-friendly and Sir Duffield - who was replaced after his death in 2015 by Sir Duffield II - became the bank's mascot. And Mr Hill, who began his career running Burger King restaurants, arrived in the UK with a loyal group of shareholders for whom he had made a fortune in the United States. In 1973, aged just 27, he had set up a business called Commerce Bank with a single branch in New Jersey. When Mr Hill left 34 years later, following a clash with regulators, the lender - now called Commerce Bancorp - had 460 branches and deposits totalling $40bn. It was sold months after his departure to Toronto Dominion Bank of Canada for $8.5bn. At first, all went well, with Metro Bank hoovering up customers, propelling its share price to a rating that could only be regarded as stratospheric by the standards of the industry and even by those of challenger banks like Virgin Money and CYBG. Metro Bank has committed to branch-based banking services as the big banks close sites nationwide. Over time, though, investors began to raise questions over the bank's governance. There was unhappiness when it emerged that Mr Hill was being paid £10,000 each month to cover the cost of staying in London and travelling to and from the US. There was even more when it was discovered that an architecture firm owned by Mr Hill's wife, Shirley, was being paid £25m to design branches for the bank - ironically recalling a similar row that blew up during billionaire Mr Hill's time at Commerce Bancorp. Matters like this could be brushed aside when the bank was doing well. After the accounting issues were revealed earlier this year, though, they became emblematic of a bank that was not being run properly. So news of Mr Hill's departure has been broadly welcomed. Ashley Hamilton Claxton, head of responsible investment at Royal London Asset Management, said: "We hope this change in leadership will help the board draw a line under the governance issues at Metro Bank and focus on restoring shareholder trust and improving financial performance. "Pension savers, who are invested in listed companies through their workplace pensions, have suffered significantly as a result of the over 90% drop in Metro Bank's share price since April 2018 when we first raised governance concerns, so we welcome this announcement." Mr Hill's departure, however, will not resolve all of the bank's difficulties. Its hitherto rapid growth has slowed - partly reflecting the sluggish state of the UK economy - and a fierce price war is being fought in products such as mortgages which, in recent weeks, has forced players like Tesco Bank to drop out of the market. Moreover, there has been speculation in recent weeks that more activist investors could appear on the shareholder register, agitating for a shake-up or even a sale of the business. The noise surrounding this bank is unlikely to die down any time soon.
30/9/2019
05:45
leoneobull: #MTRO After last week's share price drop, analysts have singled out Metro Bank as a takeover target Nicholas Megaw, Retail Banking https://twitter.com/smallcappick/status/1178527873906421761Above is a post from LSE. Worth reading FT articles in full. One is about how challenger banks are caught between a rock and a hard place, squeezed by digital incumbents ( I use revolution a lot, and so do most friends). Low profitability in holding retail deposits In low interest rate environment also mentioned. The other says mtro could be a takeover targeted due to its share price plunge.Whilst I hope share price recovery , tread carefully....sector impeded by regulations and before anybody blames the EU, it is a question of regulators globally tackling the hangover from previous crisis
28/9/2019
08:49
jasonblue66: SummaryVernon Hill's Metro Bank made a few errors back a while which it can't seem to recover from.The problem is not enough capital to back the loan book - brought about by misclassifying loans and thus the amount of capital needed.They've failed in raising more capital - a takeover seems the only way out.Metro Bank Was A Growth Stock - Now It Isn'tMetro Bank PLC (OTCMKTS: MBNKF) was an interesting growth story. The first new banking license in the UK in 100 years, strong expansion plans and recent performance and so on. The stock was thus highly rated a it should have been.Then there was a little problem They'd not been allocating capital against the riskiness of loans properly. This was not a minor issue, it was large enough - against property loans of all things - to significantly affect capital ratios. Thus a capital raise was necessary - which took place - just as a first step. Beyond that either more capital or a shrinking of the loan book.This has quite obviously hampered the value of the stock. Partly because of the mistake. But also because the aftermath quite clearly means it's no longer a growth stock and that hits the rating. Finally, it's not entirely obvious that it has an independent future at all.As best can be analysed there is no great future in independence any more. If the price dips again there's a possible speculative profit in looking for the bid to both solve that capital problem and also fold it into another banking operation.The Metro Bank Idea Was GreatVernon Hill, first at Commerce Bankcorp in the US then at Metro in the UK grasped an important point and grasped it well. Retail banking, if it is to survive offline, has to be an enjoyable consumer experience. Make it fun and efficient and business will arrive.Two more points, running a branch is a fixed cost, push more business through the branch and costs are spread over more business and thus lower per unit. Fairly obvious but not really usually applied in banking.Then something that I checked up on years back for an article that never was printed. British banking systems are layers of computers on different equipment, using different languages, roughly lashed together. A result of the waves of mergers that created the national banks. A new bank - Metro was the first new banking licence for 100 years - could leapfrog this by having just the one and clean computing installation.All of that was great.A Minor Metro Bank Problem.As Hill had done with Commerce Bankcorp his wife's design firm was employed. OK, well, but a touch odd. And in the US adventure there was an insistence that the bank had to stop lending to Hill involved ventures. That's not something we know of as having happened at Metro.The Major Metro Bank Problem.How you classify a loan tells you how much capital you've got to hold against that loan. If you're not holding enough capital - because, say, you misclassified some loans - then you've got to go and find more. Or, alternatively, sell off the loans in order to shrink your loan book.This is the Metro problem. They had indeed misclassified loans and thus the capital they had to hold against them. This was not a minor issue either, it was substantial. As the share price shows since it was uncovered:Metro Bank(Metro Bank share price from Google)Possible Metro SolutionsOne solution is that they raise more capital. Issuing more stock really isn't going to work. Not given that they're already in the 90% club - a stock that has lost 90% of its value. The dilution necessary to fill the capital hole just isn't going to work.A second chance is that they sell off some of the loan book. Hmm:It could sell more loans on top of the £521 million book that it has offloaded to Cerberus, the private equity firm, to free capital, but, as a reasonably distressed seller, it would be unlikely to get a good price. Furthermore, the more Metro shrinks its business, the less it can call itself a growth stock, further depressing its share price.That's not actually a solution to that swooning stock price.Finally, there's the possibility of a takeover.John Cronin, an analyst at Goodbody, the stockbroker, said that the most likely outcome was "a sale to a third party".A potential buyer could be a large bank that is allowed by the regulator to use its own model to determine its capital requirements and so might be able to hold less capital against Metro's loan book than is the case at present.Lloyds, Royal Bank of Scotland, HSBC and Barclays could swallow the smaller bank, analysts said, although in Lloyds' case it may require regulators to waive competition considerations.The Solution That Won't WorkTrying to issue contingent bonds - bonds that convert to equity if the bank requires more equity at some point in the future - would avoid equity dilution. And, given that contingent bonds are counted as capital, solve the capital shortage. Sadly though, this won't work:Metro Bank is facing questions over its future as the shock failure of a £200m bond sale sent shares crashing to a new record low.The stock plummeted 30pc today after it was forced to cancel the fundraising due to a lack of investor interest.So, The Situation NowMetro Bank can't just carry on. It's got to fill that capital hole. Selling part of the loan book would rerate the stock away from being a growth one. Equity issuance after joining the 90% club won't work. Issuing contingent bonds has been tried and didn't work either.My ViewThe only way out I can see here is that Metro is bought out. By some other player in the UK banking market. Several people could usefully do so. That means we're really in a game of chicken.Who can buy it cheapest? For they're pretty much forced sellers without more capital. So, I expect there to be interest but given the forced part here I would expect it at little to no premium to the current price.However, if the price keeps on falling then I can see someone deciding to take it out at a premium to that future, lower, price.The Investor TakeawayMetro Bank has that capital problem, one that really doesn't have a workable solution without significant dilution of the equity or a takeover. At current prices I'd not want to buy in to wait for either.However, at significantly lower prices than today, say $1.50 and up by the OTC pricing, I can see a major bank deciding to snap it up.This is therefore one to watch. If the price keeps sliding could well be worth picking up a small position to benefit from the takeover action that would follow.
Metro Bank share price data is direct from the London Stock Exchange
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