Mid Penn Bancorp (MPB) Now Covered by DA Davidson
DA Davidson started coverage on shares of Mid Penn Bancorp (NASDAQ:MPB) in a report released on Tuesday, BenzingaRatingsTable reports. The firm issued a neutral rating on the financial services provider’s stock. DA Davidson also issued estimates for Mid Penn Bancorp’s Q1 2019 earnings at $0.47 EPS, Q2 2019 earnings at $0.52 EPS, Q3 2019 earnings at $0.56 EPS, Q4 2019 earnings at $0.60 EPS, FY2019 earnings at $2.15 EPS, Q1 2020 earnings at $0.54 EPS, Q2 2020 earnings at $0.57 EPS, Q3 2020 earnings at $0.59 EPS, Q4 2020 earnings at $0.60 EPS and FY2020 earnings at $2.30 EPS.
Several other equities research analysts have also commented on MPB. ValuEngine lowered shares of Mid Penn Bancorp from a hold rating to a sell rating in a report on Thursday, January 10th. TheStreet upgraded shares of Mid Penn Bancorp from a c rating to a b rating in a report on Thursday, January 31st.
Shares of MPB opened at $24.16 on Tuesday. Mid Penn Bancorp has a 1-year low of $21.69 and a 1-year high of $36.75. The stock has a market cap of $203.80 million, a P/E ratio of 12.09 and a beta of 0.59. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.94 and a quick ratio of 0.94.
In other news, Director Theodore W. Mowery acquired 1,000 shares of the business’s stock in a transaction dated Thursday, February 28th. The shares were purchased at an average price of $25.31 per share, with a total value of $25,310.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Soto Matthew G. De acquired 2,065 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was purchased at an average cost of $24.20 per share, for a total transaction of $49,973.00. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 3,469 shares of company stock valued at $84,919. Company insiders own 18.20% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Mid Penn Bancorp by 4.6% in the 4th quarter. BlackRock Inc. now owns 222,286 shares of the financial services provider’s stock worth $5,116,000 after buying an additional 9,707 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Mid Penn Bancorp by 12.1% in the 4th quarter. Geode Capital Management LLC now owns 48,092 shares of the financial services provider’s stock worth $1,107,000 after buying an additional 5,187 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Mid Penn Bancorp by 48.8% in the 3rd quarter. Vanguard Group Inc. now owns 47,830 shares of the financial services provider’s stock worth $1,394,000 after buying an additional 15,693 shares during the last quarter. Vanguard Group Inc grew its position in shares of Mid Penn Bancorp by 48.8% in the 3rd quarter. Vanguard Group Inc now owns 47,830 shares of the financial services provider’s stock worth $1,394,000 after buying an additional 15,693 shares during the last quarter. Finally, Southside Capital LLC purchased a new position in shares of Mid Penn Bancorp in the 4th quarter worth approximately $925,000. 15.25% of the stock is currently owned by hedge funds and other institutional investors.
About Mid Penn Bancorp
Mid Penn Bancorp, Inc operates as the holding company for Mid Penn Bank that provides commercial banking and trust services to individuals, partnerships, non-profit organizations, and corporations. It offers various time and demand deposit products, including checking accounts, savings accounts, clubs, money market deposit accounts, certificates of deposit, and IRAs.
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