Mid Penn Bancorp (NASDAQ:MPB) Stock Crosses Above 200-Day Moving Average of $0.00

Mid Penn Bancorp, Inc. (NASDAQ:MPB) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.00 and traded as high as $29.13. Mid Penn Bancorp shares last traded at $28.94, with a volume of 30,710 shares changing hands.

Several equities research analysts have recently commented on the company. Stephens assumed coverage on Mid Penn Bancorp in a report on Monday, May 3rd. They set an “overweight” rating and a $30.00 price objective for the company. Piper Sandler upgraded Mid Penn Bancorp from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $27.00 to $30.00 in a report on Wednesday, May 5th. Finally, Zacks Investment Research downgraded Mid Penn Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, May 6th.

The company has a market capitalization of $328.61 million, a P/E ratio of 7.68 and a beta of 0.70. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.04. The firm’s 50-day moving average is $27.04.

Mid Penn Bancorp (NASDAQ:MPB) last announced its earnings results on Wednesday, April 21st. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.19. The company had revenue of $30.04 million for the quarter, compared to analysts’ expectations of $29.94 million. Mid Penn Bancorp had a return on equity of 12.54% and a net margin of 23.82%. As a group, equities analysts predict that Mid Penn Bancorp, Inc. will post 2.97 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 24th. Shareholders of record on Monday, May 10th were given a $0.20 dividend. The ex-dividend date was Friday, May 7th. This represents a $0.80 annualized dividend and a yield of 2.78%. This is a boost from Mid Penn Bancorp’s previous quarterly dividend of $0.19. Mid Penn Bancorp’s payout ratio is currently 25.81%.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its position in Mid Penn Bancorp by 15.5% in the first quarter. BlackRock Inc. now owns 422,649 shares of the financial services provider’s stock worth $11,331,000 after purchasing an additional 56,719 shares during the last quarter. Banc Funds Co. LLC boosted its position in Mid Penn Bancorp by 57.1% in the fourth quarter. Banc Funds Co. LLC now owns 118,172 shares of the financial services provider’s stock worth $2,588,000 after purchasing an additional 42,950 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Mid Penn Bancorp by 6.9% in the first quarter. Dimensional Fund Advisors LP now owns 39,814 shares of the financial services provider’s stock worth $1,067,000 after purchasing an additional 2,556 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Mid Penn Bancorp by 4.0% in the first quarter. JPMorgan Chase & Co. now owns 38,254 shares of the financial services provider’s stock worth $1,026,000 after purchasing an additional 1,462 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Mid Penn Bancorp by 2.4% during the 1st quarter. Bank of New York Mellon Corp now owns 35,882 shares of the financial services provider’s stock valued at $962,000 after buying an additional 857 shares during the last quarter. 15.94% of the stock is currently owned by institutional investors and hedge funds.

Mid Penn Bancorp Company Profile (NASDAQ:MPB)

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.

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