Mid Penn Bancorp (NASDAQ:MPB) Releases Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Mid Penn Bancorp (NASDAQ:MPB) posted its quarterly earnings data on Wednesday. The financial services provider reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.03), FiscalAI reports. The company had revenue of $74.68 million during the quarter, compared to the consensus estimate of $77.72 million. Mid Penn Bancorp had a return on equity of 8.82% and a net margin of 17.55%.

Mid Penn Bancorp Price Performance

NASDAQ MPB traded down $0.16 during trading on Wednesday, hitting $36.35. 89,429 shares of the company’s stock traded hands, compared to its average volume of 142,742. The firm has a market cap of $920.75 million, a P/E ratio of 12.84 and a beta of 0.49. Mid Penn Bancorp has a 12-month low of $27.60 and a 12-month high of $39.15. The stock has a fifty day moving average of $36.69 and a two-hundred day moving average of $35.07.

Analysts Set New Price Targets

MPB has been the subject of several research analyst reports. Zacks Research upgraded shares of Mid Penn Bancorp to a “hold” rating in a research report on Wednesday, July 1st. Weiss Ratings raised shares of Mid Penn Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Wall Street Zen cut shares of Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Keefe, Bruyette & Woods raised their price objective on shares of Mid Penn Bancorp from $37.00 to $41.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. Finally, Raymond James Financial began coverage on shares of Mid Penn Bancorp in a report on Tuesday, June 30th. They set an “outperform” rating and a $38.00 price objective for the company. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.33.

Mid Penn Bancorp Company Profile

Mid Penn Bancorp, Inc is a bank holding company headquartered in Millersburg, Pennsylvania. Its principal subsidiary, Mid Penn Bank, provides community banking services to individuals, families, businesses and government entities.

The bank offers deposit accounts, residential and commercial real estate lending, consumer loans, commercial loans, treasury management and other business banking services. It also provides mortgage banking, wealth management and trust services designed to support customers’ borrowing, investment and financial planning needs.

Mid Penn Bank traces its roots to 1868 and serves communities primarily throughout central and eastern Pennsylvania through a network of banking offices and digital banking channels.