Mid Penn Bancorp (MPB) – What Are Researchers Saying About This Stock?

Shares of Mid Penn Bancorp (NASDAQ:MPB) have been assigned an average rating of “Moderate Buy” from the five research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $40.33.

A number of research analysts recently issued reports on the company. Zacks Research raised Mid Penn Bancorp to a “hold” rating in a report on Wednesday, July 1st. Weiss Ratings upgraded shares of Mid Penn Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Wall Street Zen downgraded shares of Mid Penn Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Raymond James Financial assumed coverage on shares of Mid Penn Bancorp in a report on Tuesday, June 30th. They issued an “outperform” rating and a $38.00 price target for the company. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Mid Penn Bancorp from $37.00 to $41.00 and gave the company an “outperform” rating in a research report on Monday, July 27th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. De Lisle Partners LLP bought a new stake in shares of Mid Penn Bancorp during the 2nd quarter worth $3,238,000. Bank of New York Mellon Corp acquired a new stake in shares of Mid Penn Bancorp during the second quarter worth $3,992,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Mid Penn Bancorp during the second quarter worth $9,429,000. PNC Financial Services Group Inc. lifted its holdings in shares of Mid Penn Bancorp by 280,843.8% during the first quarter. PNC Financial Services Group Inc. now owns 134,853 shares of the financial services provider’s stock valued at $4,337,000 after purchasing an additional 134,805 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Mid Penn Bancorp by 62.5% during the first quarter. Bank of America Corp DE now owns 73,129 shares of the financial services provider’s stock valued at $2,352,000 after purchasing an additional 28,127 shares during the last quarter. Institutional investors and hedge funds own 43.11% of the company’s stock.

Mid Penn Bancorp Stock Performance

Shares of MPB stock opened at $35.97 on Friday. Mid Penn Bancorp has a 1 year low of $26.56 and a 1 year high of $39.15. The stock has a market cap of $911.30 million, a PE ratio of 12.71 and a beta of 0.49. The business’s fifty day moving average is $36.77 and its 200-day moving average is $34.99.

Mid Penn Bancorp (NASDAQ:MPB) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. The company had revenue of $75.87 million for the quarter, compared to the consensus estimate of $73.28 million. Mid Penn Bancorp had a return on equity of 8.82% and a net margin of 17.55%. Equities research analysts predict that Mid Penn Bancorp will post 3.29 earnings per share for the current year.

Mid Penn Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Monday, August 3rd. This is an increase from Mid Penn Bancorp’s previous quarterly dividend of $0.22. Mid Penn Bancorp’s payout ratio is presently 32.51%.

About Mid Penn Bancorp

Mid Penn Bancorp, Inc is a bank holding company headquartered in Millersburg, Pennsylvania. Its principal subsidiary, Mid Penn Bank, provides community banking services to individuals, families, businesses and government entities.

The bank offers deposit accounts, residential and commercial real estate lending, consumer loans, commercial loans, treasury management and other business banking services. It also provides mortgage banking, wealth management and trust services designed to support customers’ borrowing, investment and financial planning needs.

Mid Penn Bank traces its roots to 1868 and serves communities primarily throughout central and eastern Pennsylvania through a network of banking offices and digital banking channels.