Metro Bank London Stock Exchange ticker/code MTRO currently trading at 220 pence or £2.20 per share
or NASDAQ ticker/code MBNFK 270 cents or $2.75 per share.
Metro Bank shares being surpressed by the Hedge Funds, and on instruction to accumulate as many by this low price by the future bidders. A takeover target!
Recent press speculations of Lloyds Bank or Virgin money interested bidders, and previously South African Bank and Spanish BBVA banks. Also founder of the Metro Bank- Vernon Hill and his billionaire buddies will be putting low ball offer of £4 or 400 pence per share and rising to 500-650 pence per share!?
Metro Bank Bonds trading at €0.82 cents =equivalent to roughly 400 pence per share!
Recent 500 pence per share placement!
Assets of Metro Bank valued at £1.9 billion, market capitalisation as of November 11, 2019 £370m or $480 million.
Q3 Summary for 3 months ending 30 September 2019
Completed inaugural £350 million senior non-preferred debt issuance with pro forma total capital plus MREL ratio of 22.6% at 30 September 2019.
Total deposits of £14.2 billion with Q3 growth of £528 million.
Customer account growth of 106,000 in Q3 2019 (Q2 2019: 93,000) to 1.9 million.
Total net loans of £14.9 billion broadly flat quarter-on-quarter, with the loan to deposit ratio reducing to 105% (H1 2019: 109%).
Modest quarter-on-quarter reduction in operating costs and continued growth in fee and other income.
Asset quality remains strong, reflected in Q3 cost of risk of 5 bps (Q2 2019: 6 bps ).
Strong liquidity and funding position maintained, with LCR higher than Q2 2019.
Underlying loss before tax1 of £2.2 million in Q3 2019 (Q2 2019: £6.7 million profit) reflecting the impact from actions taken to maintain a resilient , including a one-off £2.5 million charge following the £521 million portfolio disposal in July 2019.
Retained position as number one bank for overall quality of service for personal current account customers and second for business current account customers in the Competition and Market Authority's latest Service Quality Survey.
I can see this going two ways.
1. Takeover as you've highlighted Or 2. The billionaire who has a track record of turning around broken banks does just that ! I think this could represent and excellent value medium long term holding.