Mid Penn Bancorp (NASDAQ:MPB) Posts Earnings Results, Hits Estimates

Mid Penn Bancorp (NASDAQ:MPBGet Free Report) released its quarterly earnings results on Wednesday. The financial services provider reported $0.71 EPS for the quarter, meeting analysts’ consensus estimates of $0.71, Zacks reports. Mid Penn Bancorp had a net margin of 15.99% and a return on equity of 8.43%.

Mid Penn Bancorp Stock Performance

NASDAQ MPB opened at $30.00 on Friday. Mid Penn Bancorp has a 52-week low of $19.20 and a 52-week high of $33.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.94 and a current ratio of 0.95. The company has a market capitalization of $498.60 million, a P/E ratio of 10.34 and a beta of 0.57. The company has a fifty day moving average of $30.19 and a 200-day moving average of $29.29.

Mid Penn Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, February 7th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, February 7th. Mid Penn Bancorp’s dividend payout ratio is currently 27.59%.

Insider Transactions at Mid Penn Bancorp

In other Mid Penn Bancorp news, Director Albert J. Evans purchased 8,474 shares of the stock in a transaction on Friday, November 1st. The stock was acquired at an average cost of $29.50 per share, with a total value of $249,983.00. Following the completion of the purchase, the director now directly owns 34,712 shares of the company’s stock, valued at approximately $1,024,004. This trade represents a 32.30 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders purchased 9,678 shares of company stock valued at $285,510. Insiders own 10.70% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on MPB shares. StockNews.com lowered shares of Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, October 14th. Keefe, Bruyette & Woods boosted their price target on shares of Mid Penn Bancorp from $34.00 to $37.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Finally, Piper Sandler boosted their price target on shares of Mid Penn Bancorp from $31.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, October 28th.

Read Our Latest Stock Analysis on MPB

Mid Penn Bancorp Company Profile

(Get Free Report)

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.

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Earnings History for Mid Penn Bancorp (NASDAQ:MPB)

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