Mid Penn Bancorp (NASDAQ:MPB) Posts Earnings Results, Misses Expectations By $0.01 EPS

Mid Penn Bancorp (NASDAQ:MPB) announced its quarterly earnings results on Wednesday. The financial services provider reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.01), FiscalAI reports. Mid Penn Bancorp had a net margin of 17.55% and a return on equity of 8.82%. The business had revenue of $74.68 million during the quarter, compared to the consensus estimate of $77.72 million.

Mid Penn Bancorp Stock Down 0.4%

Shares of MPB opened at $36.35 on Thursday. The stock has a market cap of $920.93 million, a PE ratio of 12.84 and a beta of 0.49. The firm’s fifty day moving average is $36.65 and its two-hundred day moving average is $35.10. Mid Penn Bancorp has a 52-week low of $27.60 and a 52-week high of $39.15.

Mid Penn Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Monday, November 2nd will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Monday, November 2nd. Mid Penn Bancorp’s payout ratio is 32.51%.

More Mid Penn Bancorp News

Here are the key news stories impacting Mid Penn Bancorp this week:

• Positive Sentiment: Third-quarter net income available to common shareholders increased to $21.6 million from $18.3 million a year earlier. Reported diluted earnings were $0.84 per share in the company’s release, while other reports cited $0.88, ranging from roughly in line with or slightly below consensus estimates. Mid Penn Bancorp Third-Quarter Earnings Release
• Positive Sentiment: Loan balances rose to approximately $5.6 billion and deposits reached $6.1 billion, indicating continued balance-sheet growth. The company also declared its 64th consecutive quarterly cash dividend of $0.23 per share, equivalent to a 2.5% annualized yield. Mid Penn Reports Third-Quarter Net Income
• Positive Sentiment: Insider activity was favorable, with reported open-market purchases and no insider sales during the past six months. This may provide a modest confidence signal, although it is not a direct earnings catalyst.
• Neutral Sentiment: Net interest margin improved year over year to 3.92% from 3.60%, but remained below the prior quarter’s 4.06%, suggesting that rate and funding pressures are still affecting near-term performance.
• Negative Sentiment: Revenue of approximately $74.7 million fell short of Wall Street expectations near $77.7 million. Net interest income also declined sequentially to $64.6 million from $65.3 million, while the reported earnings figure was described by some outlets as narrowly missing consensus. Mid Penn Bancorp Earnings Report

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Zacks Research upgraded Mid Penn Bancorp to a “hold” rating in a research report on Wednesday, July 1st. Weiss Ratings upgraded shares of Mid Penn Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Raymond James Financial began coverage on Mid Penn Bancorp in a research note on Tuesday, June 30th. They set an “outperform” rating and a $38.00 price objective for the company. Keefe, Bruyette & Woods increased their target price on shares of Mid Penn Bancorp from $37.00 to $41.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. Finally, Wall Street Zen downgraded Mid Penn Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Mid Penn Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.33.

About Mid Penn Bancorp

Mid Penn Bancorp, Inc is the holding company for Mid Penn Bank, a community banking institution headquartered in Millersburg, Pennsylvania. The bank provides financial services to individuals, families, businesses, nonprofit organizations and municipalities through a network of community banking offices and digital banking channels.

Mid Penn Bank offers consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, equipment financing, personal loans and credit products.