Mid Penn Bancorp (MPB) to Issue Quarterly Dividend of $0.23 on August 14th

Mid Penn Bancorp (NASDAQ:MPB) declared a quarterly dividend on Wednesday, July 22nd. Investors of record on Monday, August 3rd will be given a dividend of 0.23 per share by the financial services provider on Friday, August 14th. This represents a c) dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Monday, August 3rd. This is a 4.5% increase from Mid Penn Bancorp’s previous quarterly dividend of $0.22.

Mid Penn Bancorp has increased its dividend by an average of 0.0%annually over the last three years. Mid Penn Bancorp has a dividend payout ratio of 27.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Mid Penn Bancorp to earn $3.80 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 24.2%.

Mid Penn Bancorp Stock Performance

Shares of NASDAQ:MPB opened at $38.34 on Friday. Mid Penn Bancorp has a 52-week low of $26.56 and a 52-week high of $39.15. The company has a fifty day moving average of $34.51 and a 200-day moving average of $33.33. The company has a market capitalization of $971.73 million, a PE ratio of 13.55 and a beta of 0.47.

Mid Penn Bancorp (NASDAQ:MPB) last announced its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. The firm had revenue of $75.87 million during the quarter, compared to analysts’ expectations of $73.28 million. Mid Penn Bancorp had a return on equity of 9.00% and a net margin of 17.55%. On average, equities analysts forecast that Mid Penn Bancorp will post 3.33 EPS for the current fiscal year.

About Mid Penn Bancorp

Mid Penn Bancorp, Inc is a bank holding company headquartered in Hummelstown, Pennsylvania, serving as the parent of Mid Penn Bank. As a full-service financial institution, Mid Penn Bank operates a network of branches across central Pennsylvania, delivering retail and commercial banking services to individuals, families and businesses in its regional markets.

Through its banking subsidiary, the company offers a broad range of deposit products, including checking accounts, savings accounts and certificates of deposit, alongside consumer and commercial lending solutions.