Director dealings: Metro Bank CEO ups stake

31st Oct 2018 16:29

(Sharecast News) - Metro Bank chief executive Craig Donaldson purchased 10,000 ordinary shares in the FTSE 250-listed challenger bank.Donaldson, who joined Metro all the way back in 2010, acquired the shares at an average price of 2,176.25p, for a total value of £217,624.70.Metro Bank got a boost on Monday as Citi upgraded the stock to 'buy' from 'neutral', saying the risk/reward now looks more balanced.Citi, which has long-argued that Metro shares should not be bought given overly-optimistic targets, said it still thinks this is true. However, with the shares underperforming the Stoxx 600 banks index by more than 25% since early March, the price now overly discounts negatives.The broker cut its price target on the stock to 2,590p from 3,040p to reflect a high sensitivity of valuation and lower assumed terminal growth.On the downside, it said the stock's valuation may not be enough in a market where most banks look cheap. It also pointed to weak margin trends due to competition and said the bank's third-quarter results did little to indicate that 2020/23 targets are achievable."We see Metro as most exposed to no-deal Brexit (not our base case but a non-negligible risk), given how sensitive valuation is," Citi added.As of 1630 BST, Metro Bank shares were up 2.50% to 2,216p.Top Director BuysMetro Bank (MTRO)Director name: Donaldson,Craig Amount purchased: 10,000 @ 2,176.25pValue: £217,624.70Obtala Limited (OBT)Director name: Pelham,Miles CAmount purchased: 1,000,000 @ 6.23pValue: £62,250.00Wandisco (WAND)Director name: Richards,David JamesAmount purchased: 10,000 @ 392.58pValue: £39,258.00Wandisco (WAND)Director name: Aahlad ,Yeturu Amount purchased: 10,000 @ 392.58pValue: £39,258.00St. Modwen Properties (SMP)Director name: Gray,Danuta Amount purchased: 10,500 @ 370.46pValue: £38,897.78Gvc Holdings (GVC)Director name: Anscombe ,Jane Amount purchased: 3,763 @ 929.52pValue: £34,977.91Nmc Health (NMC)Director name: Bomford ,Jonathan Amount purchased: 1,000 @ 3,475.55pValue: £34,755.45Rps Group (RPS)Director name: Bainbridge,AllisonAmount purchased: 16,400 @ 160.73pValue: £26,360.21Vivo Energy (VVO)Director name: Nyasulu,Thembalihle HixoniaAmount purchased: 12,000 @ 118.99pValue: £14,278.56Henderson Opportunities Trust (HOT)Director name: Colquhoun,WendyAmount purchased: 1,000 @ 984.70pValue: £9,847.00Henry Boot (BOOT)Director name: Jennings,GeraldAmount purchased: 2,500 @ 269.00pValue: £6,725.00Rps Group (RPS)Director name: Bainbridge,AllisonAmount purchased: 2,000 @ 158.00pValue: £3,160.00Coral Products (CRU)Director name: Wood,Michael (Mick) Amount purchased: 21,019 @ 10.30pValue: £2,164.963i Group (III)Director name: Dunn,KevinAmount purchased: 18 @ 854.27pValue: £153.77Direct Line Insurance Group (DLG)Director name: Maddock,Steven Amount purchased: 47 @ 325.30pValue: £152.89Arrow Global Group (ARW)Director name: Hamilton,StewartAmount purchased: 78 @ 193.50pValue: £150.93Arrow Global Group (ARW)Director name: Rochford,LeeAmount purchased: 78 @ 193.50pValue: £150.93Direct Line Insurance Group (DLG)Director name: Tomlinson,Humphrey Amount purchased: 46 @ 325.30pValue: £149.64Arrow Global Group (ARW)Director name: Sutherland,DaveAmount purchased: 77 @ 193.50pValue: £148.99Arrow Global Group (ARW)Director name: Cooper,Paul Amount purchased: 77 @ 193.50pValue: £148.99Arrow Global Group (ARW)Director name: French,TracyAmount purchased: 77 @ 193.50pValue: £148.993i Group (III)Director name: Wilson,JuliaAmount purchased: 17 @ 854.27pValue: £145.23Top Director Sells