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Well done metro bank.
Let this multi bag baby
That at least this one beats expected numbers. Feels every update of every share I own scores an own goal some where and makes you wonder is it worth it or better going under the mattress. Vanquis and thg being most recent mismanagement
Results day
Hoping that proactive have uderestimated metro's profit. My sensible side saying 11m feels about right.... do you rate proactive journalism primetime?
Click on link of mine
proactive investor below
What are the expectations for tomorrow? I'm hoping for profits over 35 million and hopefully a 20% uplift in share price. This is massively undervalued .
I was right that this will decline close to 30p before we get more updates. Tomorrow we will get more updates, I am leaning towards the re-rate camp here, I believe this stock will rise tomorrow. Gla
Could being the word lets hope it is in our favour this rerate & not to the downside
gla
Could be a hell of a re rate here tomorrow. Hold tight for lift off
We also need to consider that The Co-operative Bank had been considered a right off just a couple of years ago and now it's the target of a takeover.
Https://www.proactiveinvestors.co.uk/companies/news/1042744/osb-and-metro-bank-in-spotlight-after-virgin-takeover-1042744.html
A slow turn around not expecting fire works with results.
But with our main Man now holding 53% i'm sure he will turn this ship to calmer waters
gla we need it
Correct RG, however to point out that £1.10 per share then values the bank at the same it is now due to share dilution. So in terms of overall market cap, the bank is still worth the same now as it was then.
Maybe one day I will see an increase in my 'for free' shares valuation.
Tg
Banks like Lloyds can simply close a branch
Tg
'' already had several interest parties ffs!''
really? - you may find that a sell off of assets was a possibility, but the tied in expensive property leases is a different matter.
Tg
''Virgin Money has 91 branches btw''
what has the old northern rock branches got to do with Metro having expensive leases on their branches - and come to that the co-op branches ?
"Metro hasn't been in anyone's sights despite the loose change valuation"
Jeepers it just gets worse Metro's already had several interest parties ffs!
Metro Bank covers 80% of its leasehold property costs by effectively renting out space for security box income..some prime located branches are actually owned..
Longtimeinvestor
"
The business model , including being tied to property leases is expensive and isn't one that is appealing tor another bank"
Unless of course your paying £2.9b for Virgin Money as offered by Nationwide...Virgin Money has 91 branches btw, or the mergers with the Co-operative Bank and Coventry Building Society..The Co-operative Bank has 373 branches.
Unlike digital banks like Revolut which has been waiting more than two years to secure a banking licence, which would allow it to conduct more regulated activities, such as mortgage and credit card lending.
Sometimes you just gotta to see the bigger picture with the backdrop of alot of M&A activity going on.
I agree lti. I took remember predictions of a return to £6/share being imminent. Matlot anyone?
Metro are pursuing a contrarian strategy by being branch-led. There is always space for a contrarian approach for sure, just don't expect the herd who have rejected your business model to be knocking at your door with generous buy-out offers. The SP will improve only when profitability is proven and consistent. That can't happen overnight.
RG
Rg
''from memory - about 110p. That looks outrageously optimistic in hindsight''
I was on here a long time ago when in the ££'s ,warning against the nonsense posts suggesting that once the 'shorts' were out and stakeholders increased their holding then there would be a climb up to near peak prices again £40) .
The business model , including being tied to property leases is expensive and isn't one that is appealing tor another bank . The current valuation is equivalent to only a few weeks net profits of the likes of Lloyds, so buying the whole Metro hasn't been in anyone's sights despite the loose change valuation. Current shareholders will have to hope that profitability can be increased to such an extent that there can be progress from the current 35p level.
''Metro is a sitting duck while market cap is below £500m ''
Yes £240 million is below £500 million.
''metro a likely target now.''
why is that?
I hesitate to put my foot into an ongoing exchange of views between two posters, but I seem to recall that it was less than year ago Cyberdoggy was predicting the SP would stay static for the foreseeable at - from memory - about 110p. That looks outrageously optimistic in hindsight so maybe unfair to accuse them of always being negative. Just a thought.
RG
U.K. banking sector starts the consolidation process with nationwide scooping up virgin. Metro is a sitting duck while market cap is below £500m . Results next week will be the start of a big re rate which metro a likely target now.