Mid Penn Bancorp, Inc. (NASDAQ:MPB) Expected to Announce Earnings of $0.57 Per Share

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Brokerages expect that Mid Penn Bancorp, Inc. (NASDAQ:MPB) will report $0.57 earnings per share (EPS) for the current quarter, Zacks reports. Zero analysts have made estimates for Mid Penn Bancorp’s earnings. Mid Penn Bancorp reported earnings per share of $0.53 in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.5%. The firm is expected to announce its next earnings report on Monday, January 27th.

On average, analysts expect that Mid Penn Bancorp will report full-year earnings of $2.14 per share for the current fiscal year. For the next year, analysts forecast that the firm will report earnings of $2.23 per share. Zacks’ earnings per share averages are an average based on a survey of analysts that cover Mid Penn Bancorp.

Several brokerages have recently weighed in on MPB. ValuEngine cut shares of Mid Penn Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, December 4th. Zacks Investment Research cut shares of Mid Penn Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday.

A number of large investors have recently bought and sold shares of MPB. Tower Research Capital LLC TRC lifted its position in Mid Penn Bancorp by 2,277.4% during the second quarter. Tower Research Capital LLC TRC now owns 3,257 shares of the financial services provider’s stock valued at $81,000 after acquiring an additional 3,120 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Mid Penn Bancorp by 235.2% during the second quarter. JPMorgan Chase & Co. now owns 3,845 shares of the financial services provider’s stock valued at $95,000 after acquiring an additional 2,698 shares during the last quarter. Context BH Capital Management LP lifted its position in Mid Penn Bancorp by 6.0% during the second quarter. Context BH Capital Management LP now owns 8,814 shares of the financial services provider’s stock valued at $220,000 after acquiring an additional 501 shares during the last quarter. Rhumbline Advisers lifted its position in Mid Penn Bancorp by 10.0% during the third quarter. Rhumbline Advisers now owns 9,016 shares of the financial services provider’s stock valued at $231,000 after acquiring an additional 823 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Mid Penn Bancorp by 49.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 16,303 shares of the financial services provider’s stock valued at $407,000 after acquiring an additional 5,407 shares during the last quarter. 18.87% of the stock is owned by institutional investors.

Shares of MPB remained flat at $$27.49 during mid-day trading on Thursday. 12,000 shares of the stock traded hands, compared to its average volume of 10,122. The company has a 50-day moving average price of $26.65 and a 200-day moving average price of $25.32. Mid Penn Bancorp has a 52-week low of $21.51 and a 52-week high of $27.81. The company has a market cap of $231.21 million, a price-to-earnings ratio of 13.41 and a beta of 0.59. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.43.

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Wednesday, November 6th were given a dividend of $0.18 per share. The ex-dividend date was Tuesday, November 5th. This represents a $0.72 dividend on an annualized basis and a yield of 2.62%. Mid Penn Bancorp’s payout ratio is 35.12%.

About Mid Penn Bancorp

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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Earnings History and Estimates for Mid Penn Bancorp (NASDAQ:MPB)

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