Mid Penn Bancorp, Inc. (NASDAQ:MPB) has been given a consensus broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating.

Brokerages have set a 1 year consensus target price of $27.00 for the company and are expecting that the company will post $0.53 earnings per share for the current quarter, according to Zacks. Zacks has also given Mid Penn Bancorp an industry rank of 183 out of 256 based on the ratings given to its competitors.

Several research analysts recently weighed in on the stock. DA Davidson assumed coverage on shares of Mid Penn Bancorp in a report on Tuesday, April 16th. They set a “neutral” rating on the stock. TheStreet upgraded shares of Mid Penn Bancorp from a “c” rating to a “b” rating in a report on Thursday, January 31st.

In related news, Director Soto Matthew G. De acquired 2,065 shares of the stock in a transaction on Friday, March 22nd. The shares were acquired at an average price of $24.20 per share, with a total value of $49,973.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Theodore W. Mowery acquired 1,000 shares of the stock in a transaction on Thursday, February 28th. The stock was bought at an average cost of $25.31 per share, for a total transaction of $25,310.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 3,269 shares of company stock worth $80,281. 18.20% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its stake in shares of Mid Penn Bancorp by 12.5% in the third quarter. BlackRock Inc. now owns 212,579 shares of the financial services provider’s stock valued at $6,196,000 after acquiring an additional 23,557 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Mid Penn Bancorp by 48.8% in the third quarter. Vanguard Group Inc. now owns 47,830 shares of the financial services provider’s stock valued at $1,394,000 after acquiring an additional 15,693 shares during the last quarter. Vanguard Group Inc raised its stake in shares of Mid Penn Bancorp by 48.8% in the third quarter. Vanguard Group Inc now owns 47,830 shares of the financial services provider’s stock valued at $1,394,000 after acquiring an additional 15,693 shares during the last quarter. Southside Capital LLC bought a new position in shares of Mid Penn Bancorp in the fourth quarter valued at approximately $925,000. Finally, Wharton Business Group LLC raised its stake in shares of Mid Penn Bancorp by 7.3% in the fourth quarter. Wharton Business Group LLC now owns 28,515 shares of the financial services provider’s stock valued at $656,000 after acquiring an additional 1,938 shares during the last quarter. 15.30% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ MPB opened at $24.01 on Tuesday. Mid Penn Bancorp has a 1 year low of $21.54 and a 1 year high of $36.40. The stock has a market cap of $208.60 million, a PE ratio of 11.71 and a beta of 0.57. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.40.

Mid Penn Bancorp (NASDAQ:MPB) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.01. Mid Penn Bancorp had a net margin of 15.82% and a return on equity of 7.98%. The business had revenue of $19.36 million for the quarter, compared to analysts’ expectations of $19.90 million. As a group, research analysts anticipate that Mid Penn Bancorp will post 2.2 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, May 27th. Investors of record on Wednesday, May 8th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This is a boost from Mid Penn Bancorp’s previous quarterly dividend of $0.15. This represents a $0.72 annualized dividend and a yield of 3.00%. Mid Penn Bancorp’s payout ratio is 35.12%.

About Mid Penn Bancorp

Mid Penn Bancorp, Inc operates as the bank holding company for Mid Penn Bank that provides commercial banking services to individuals, partnerships, non-profit organizations, and corporations. The company offers various time and demand deposit products, including checking accounts, savings accounts, clubs, money market deposit accounts, certificates of deposit, and IRAs.

Further Reading: Fiduciary

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