Mid Penn Bancorp (NASDAQ:MPB) Announces Quarterly Dividend of $0.23

Mid Penn Bancorp (NASDAQ:MPB) announced a quarterly dividend on Wednesday, October 21st. Investors of record on Monday, November 2nd will be paid a dividend of $0.23 per share by the financial services provider on Friday, November 13th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, November 2nd.

Mid Penn Bancorp has a payout ratio of 27.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Mid Penn Bancorp to earn $3.83 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 24.0%.

Mid Penn Bancorp Price Performance

MPB stock traded down $2.49 during mid-day trading on Thursday, reaching $33.86. The company had a trading volume of 139,440 shares, compared to its average volume of 142,831. The firm has a 50 day moving average of $36.65 and a 200 day moving average of $35.10. The company has a market capitalization of $857.77 million, a PE ratio of 11.96 and a beta of 0.49. Mid Penn Bancorp has a 12 month low of $27.98 and a 12 month high of $39.15.

Mid Penn Bancorp (NASDAQ:MPB) last issued its earnings results on Wednesday, October 21st. The financial services provider reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.01). The firm had revenue of $74.68 million for the quarter, compared to the consensus estimate of $77.72 million. Mid Penn Bancorp had a net margin of 17.55% and a return on equity of 8.82%. Analysts anticipate that Mid Penn Bancorp will post 3.29 EPS for the current year.

Mid Penn Bancorp News Roundup

Here are the key news stories impacting Mid Penn Bancorp this week:

• Positive Sentiment: Third-quarter net income available to common shareholders rose to $21.6 million, or $0.84 per diluted share, from $18.3 million, or $0.79 per diluted share, a year earlier. The result reflects approximately 18% growth in quarterly profit. Mid Penn Bancorp Third Quarter Earnings Release
• Positive Sentiment: Loan balances increased to approximately $5.6 billion and deposits rose to about $6.1 billion, indicating continued balance-sheet growth. Mid Penn Reports Third-Quarter Net Income
• Positive Sentiment: Mid Penn declared its 64th consecutive quarterly dividend of $0.23 per share, payable November 13 to shareholders of record November 2. The annualized payout is $0.92 per share, representing a yield of roughly 2.5%. Mid Penn Bancorp Dividend Announcement
• Neutral Sentiment: Net interest income was $64.6 million, while the net interest margin improved year over year to 3.92% from 3.60% but declined from 4.06% in the prior quarter, signaling sequential margin pressure. Mid Penn Bancorp Earnings Results
• Negative Sentiment: Revenue of approximately $74.7 million fell short of analyst expectations near $77.7 million. Reported EPS was also described as slightly below consensus in market coverage, making the revenue miss and margin decline the primary reasons for the negative investor reaction. Mid Penn Bancorp Earnings Coverage

About Mid Penn Bancorp

Mid Penn Bancorp, Inc is the holding company for Mid Penn Bank, a community banking institution headquartered in Millersburg, Pennsylvania. The bank provides financial services to individuals, families, businesses, nonprofit organizations and municipalities through a network of community banking offices and digital banking channels.

Mid Penn Bank offers consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, equipment financing, personal loans and credit products.