92,824 Shares in Mid Penn Bancorp $MPB Acquired by De Lisle Partners LLP

De Lisle Partners LLP acquired a new stake in Mid Penn Bancorp (NASDAQ:MPB) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 92,824 shares of the financial services provider’s stock, valued at approximately $3,238,000.

A number of other hedge funds have also recently added to or reduced their stakes in MPB. Mystic Asset Management Inc. bought a new stake in shares of Mid Penn Bancorp during the second quarter worth $461,000. Fischer Financial Services Inc. bought a new position in shares of Mid Penn Bancorp in the 2nd quarter valued at $234,000. BlackRock Inc. acquired a new stake in shares of Mid Penn Bancorp during the 2nd quarter valued at $60,141,000. Deutsche Bank AG acquired a new stake in shares of Mid Penn Bancorp during the 2nd quarter valued at $736,000. Finally, Bank of New York Mellon Corp bought a new stake in Mid Penn Bancorp during the 2nd quarter worth $3,992,000. Institutional investors and hedge funds own 43.11% of the company’s stock.

Mid Penn Bancorp Stock Up 0.1%

Shares of Mid Penn Bancorp stock opened at $37.24 on Friday. The stock has a market cap of $943.29 million, a price-to-earnings ratio of 13.16 and a beta of 0.47. Mid Penn Bancorp has a twelve month low of $26.56 and a twelve month high of $39.15. The company’s fifty day moving average is $36.01 and its 200 day moving average is $33.92.

Mid Penn Bancorp (NASDAQ:MPB) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.08. The business had revenue of $75.87 million during the quarter, compared to analyst estimates of $73.28 million. Mid Penn Bancorp had a return on equity of 8.82% and a net margin of 17.55%. As a group, equities analysts anticipate that Mid Penn Bancorp will post 3.33 earnings per share for the current fiscal year.

Mid Penn Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were paid a $0.23 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This is a positive change from Mid Penn Bancorp’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 2.5%. Mid Penn Bancorp’s payout ratio is currently 32.51%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on MPB shares. Weiss Ratings raised Mid Penn Bancorp from a “hold (c+)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Raymond James Financial assumed coverage on Mid Penn Bancorp in a report on Tuesday, June 30th. They set an “outperform” rating and a $38.00 price target on the stock. Keefe, Bruyette & Woods upped their price objective on Mid Penn Bancorp from $37.00 to $41.00 and gave the company an “outperform” rating in a research note on Monday, July 27th. Zacks Research upgraded shares of Mid Penn Bancorp to a “hold” rating in a report on Wednesday, July 1st. Finally, Wall Street Zen downgraded shares of Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.50.

About Mid Penn Bancorp

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.