Mid Penn Bancorp, Inc. (NASDAQ:MPB) Short Interest Update

Mid Penn Bancorp, Inc. (NASDAQ:MPB) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 95,800 shares, an increase of 16.8% from the August 15th total of 82,000 shares. Based on an average daily trading volume, of 39,300 shares, the days-to-cover ratio is presently 2.4 days.

Mid Penn Bancorp Stock Performance

MPB stock traded up $0.17 during midday trading on Tuesday, hitting $29.85. The company’s stock had a trading volume of 32,192 shares, compared to its average volume of 34,863. The stock has a market cap of $498.17 million, a price-to-earnings ratio of 12.92 and a beta of 0.58. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.12. The stock’s 50-day moving average price is $27.58 and its 200 day moving average price is $23.14. Mid Penn Bancorp has a 1 year low of $18.63 and a 1 year high of $30.55.

Mid Penn Bancorp (NASDAQ:MPB) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.62 by $0.06. The business had revenue of $44.10 million for the quarter, compared to analyst estimates of $41.63 million. Mid Penn Bancorp had a net margin of 15.57% and a return on equity of 7.99%. On average, equities analysts forecast that Mid Penn Bancorp will post 2.81 EPS for the current year.

Mid Penn Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.68%. The ex-dividend date was Friday, August 9th. Mid Penn Bancorp’s dividend payout ratio (DPR) is currently 34.63%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MPB. Piper Sandler increased their price objective on shares of Mid Penn Bancorp from $25.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. StockNews.com upgraded Mid Penn Bancorp from a “hold” rating to a “buy” rating in a report on Friday, August 9th.

Hedge Funds Weigh In On Mid Penn Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MPB. Vanguard Group Inc. boosted its holdings in shares of Mid Penn Bancorp by 1.8% in the first quarter. Vanguard Group Inc. now owns 688,363 shares of the financial services provider’s stock worth $13,774,000 after acquiring an additional 12,314 shares during the period. Dimensional Fund Advisors LP boosted its stake in Mid Penn Bancorp by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 418,963 shares of the financial services provider’s stock worth $9,195,000 after purchasing an additional 31,292 shares during the period. LSV Asset Management grew its holdings in Mid Penn Bancorp by 21.0% during the 2nd quarter. LSV Asset Management now owns 156,059 shares of the financial services provider’s stock valued at $3,425,000 after buying an additional 27,098 shares in the last quarter. American Century Companies Inc. increased its position in shares of Mid Penn Bancorp by 8.8% during the second quarter. American Century Companies Inc. now owns 144,397 shares of the financial services provider’s stock valued at $3,170,000 after buying an additional 11,731 shares during the period. Finally, Kennedy Capital Management LLC lifted its holdings in shares of Mid Penn Bancorp by 126.4% in the first quarter. Kennedy Capital Management LLC now owns 96,086 shares of the financial services provider’s stock worth $1,923,000 after buying an additional 53,650 shares in the last quarter. Institutional investors own 43.11% of the company’s stock.

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.