Mid Penn Bancorp (NASDAQ:MPB) Reaches New 52-Week High – Should You Buy?

Shares of Mid Penn Bancorp (NASDAQ:MPB) reached a new 52-week high during trading on Wednesday . The stock traded as high as $35.22 and last traded at $34.9560, with a volume of 62914 shares traded. The stock had previously closed at $34.07.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MPB shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Mid Penn Bancorp in a research note on Thursday, January 22nd. Wall Street Zen lowered Mid Penn Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, January 24th. Finally, Keefe, Bruyette & Woods raised their target price on Mid Penn Bancorp from $34.00 to $37.00 and gave the company an “outperform” rating in a report on Monday, October 27th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Mid Penn Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Mid Penn Bancorp Stock Performance

The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.08. The stock’s 50 day moving average is $31.56 and its 200 day moving average is $29.81. The stock has a market capitalization of $796.61 million, a price-to-earnings ratio of 13.55 and a beta of 0.56.

Mid Penn Bancorp (NASDAQ:MPB) last released its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.80 by $0.03. Mid Penn Bancorp had a net margin of 16.04% and a return on equity of 8.84%. The business had revenue of $61.52 million for the quarter, compared to analyst estimates of $62.65 million. On average, analysts predict that Mid Penn Bancorp will post 3 earnings per share for the current year.

Mid Penn Bancorp Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Tuesday, February 17th. Investors of record on Friday, February 6th will be given a dividend of $0.05 per share. This represents a yield of 253.0%. The ex-dividend date is Friday, February 6th. Mid Penn Bancorp’s dividend payout ratio (DPR) is currently 34.51%.

Institutional Trading of Mid Penn Bancorp

A number of hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue purchased a new position in shares of Mid Penn Bancorp during the 3rd quarter worth $26,000. Legal & General Group Plc grew its holdings in Mid Penn Bancorp by 35.6% in the 2nd quarter. Legal & General Group Plc now owns 1,877 shares of the financial services provider’s stock valued at $53,000 after buying an additional 493 shares during the period. Ameritas Investment Partners Inc. increased its stake in shares of Mid Penn Bancorp by 35.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,055 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 540 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Mid Penn Bancorp by 416.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,303 shares of the financial services provider’s stock worth $93,000 after acquiring an additional 2,664 shares during the period. Finally, Palouse Capital Management Inc. purchased a new position in shares of Mid Penn Bancorp during the 2nd quarter worth about $96,000. Institutional investors and hedge funds own 43.11% of the company’s stock.

Mid Penn Bancorp Company Profile

Mid Penn Bancorp, Inc is a bank holding company headquartered in Hummelstown, Pennsylvania, serving as the parent of Mid Penn Bank. As a full-service financial institution, Mid Penn Bank operates a network of branches across central Pennsylvania, delivering retail and commercial banking services to individuals, families and businesses in its regional markets.

Through its banking subsidiary, the company offers a broad range of deposit products, including checking accounts, savings accounts and certificates of deposit, alongside consumer and commercial lending solutions.