Mid Penn Bancorp (NASDAQ:MPB) Sets New 12-Month High at $30.09

Mid Penn Bancorp, Inc. (NASDAQ:MPB)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $30.09 and last traded at $30.00, with a volume of 15625 shares trading hands. The stock had previously closed at $28.04.

Analyst Ratings Changes

Several equities analysts recently commented on MPB shares. StockNews.com upgraded Mid Penn Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Piper Sandler boosted their price objective on shares of Mid Penn Bancorp from $25.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, July 29th.

Mid Penn Bancorp Trading Up 5.7 %

The firm has a market cap of $494.66 million, a price-to-earnings ratio of 12.99 and a beta of 0.59. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $24.60 and a 200 day moving average price of $22.05.

Mid Penn Bancorp (NASDAQ:MPB) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.06. The business had revenue of $44.10 million for the quarter, compared to the consensus estimate of $41.63 million. Mid Penn Bancorp had a net margin of 15.57% and a return on equity of 8.06%. As a group, research analysts anticipate that Mid Penn Bancorp, Inc. will post 2.74 earnings per share for the current fiscal year.

Mid Penn Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Friday, August 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, August 9th. This represents a $0.80 annualized dividend and a yield of 2.70%. Mid Penn Bancorp’s dividend payout ratio (DPR) is currently 34.63%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MPB. Squarepoint Ops LLC bought a new stake in shares of Mid Penn Bancorp in the second quarter valued at approximately $282,000. BNP Paribas Financial Markets grew its position in Mid Penn Bancorp by 138.5% in the 4th quarter. BNP Paribas Financial Markets now owns 14,713 shares of the financial services provider’s stock worth $357,000 after purchasing an additional 8,545 shares during the last quarter. Summit Trail Advisors LLC raised its position in shares of Mid Penn Bancorp by 20.7% during the fourth quarter. Summit Trail Advisors LLC now owns 15,149 shares of the financial services provider’s stock valued at $368,000 after buying an additional 2,601 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Mid Penn Bancorp by 4.1% in the second quarter. Rhumbline Advisers now owns 22,344 shares of the financial services provider’s stock valued at $490,000 after buying an additional 877 shares during the period. Finally, BHZ Capital Management LP lifted its stake in shares of Mid Penn Bancorp by 53.8% in the fourth quarter. BHZ Capital Management LP now owns 23,739 shares of the financial services provider’s stock valued at $576,000 after buying an additional 8,307 shares during the period. 43.11% of the stock is currently owned by institutional investors and hedge funds.

Mid Penn Bancorp Company Profile

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 individual retirement accounts.