Mid Penn Bancorp (MPB) – What Are Analysts Thinking About This Stock?

Mid Penn Bancorp (NASDAQ:MPB) has been given an average rating of “Moderate Buy” by the five brokerages that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $39.67.

A number of equities analysts recently weighed in on the stock. Piper Sandler restated an “overweight” rating and issued a $40.00 price objective (down from $42.00) on shares of Mid Penn Bancorp in a report on Tuesday, October 27th. Weiss Ratings cut Mid Penn Bancorp from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 23rd. Wall Street Zen downgraded Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, Keefe, Bruyette & Woods lifted their target price on Mid Penn Bancorp from $37.00 to $41.00 and gave the stock an “outperform” rating in a report on Monday, July 27th.

Institutional Investors Weigh In On Mid Penn Bancorp

Several large investors have recently bought and sold shares of the business. Legal & General Group Plc bought a new stake in Mid Penn Bancorp in the 2nd quarter worth about $73,000. Royal Bank of Canada lifted its stake in Mid Penn Bancorp by 10.2% during the 1st quarter. Royal Bank of Canada now owns 5,460 shares of the financial services provider’s stock valued at $176,000 after acquiring an additional 507 shares during the period. Fischer Financial Services Inc. purchased a new stake in shares of Mid Penn Bancorp during the 2nd quarter valued at about $234,000. Stillwater Private Wealth LLC purchased a new stake in shares of Mid Penn Bancorp during the 1st quarter valued at about $225,000. Finally, Cetera Investment Advisers purchased a new stake in shares of Mid Penn Bancorp during the 1st quarter valued at about $233,000. 43.11% of the stock is currently owned by institutional investors.

Mid Penn Bancorp Stock Performance

NASDAQ:MPB opened at $34.52 on Tuesday. The firm has a market cap of $874.39 million, a P/E ratio of 11.99 and a beta of 0.49. Mid Penn Bancorp has a fifty-two week low of $27.98 and a fifty-two week high of $39.15. The firm has a 50-day simple moving average of $36.09 and a two-hundred day simple moving average of $34.38.

Mid Penn Bancorp (NASDAQ:MPB) last issued its earnings results on Wednesday, October 21st. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.01). Mid Penn Bancorp had a return on equity of 9.15% and a net margin of 17.83%. The firm had revenue of $74.68 million during the quarter, compared to the consensus estimate of $77.72 million. On average, equities research analysts predict that Mid Penn Bancorp will post 3.25 EPS for the current year.

Mid Penn Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Monday, November 2nd will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, November 2nd. Mid Penn Bancorp’s dividend payout ratio is presently 31.94%.

About Mid Penn Bancorp

Mid Penn Bancorp, Inc is the holding company for Mid Penn Bank, a community banking institution headquartered in Millersburg, Pennsylvania. The bank provides financial services to individuals, families, businesses, nonprofit organizations and municipalities through a network of community banking offices and digital banking channels.

Mid Penn Bank offers consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, equipment financing, personal loans and credit products.