Mid Penn Bancorp (MPB) to Issue Quarterly Dividend of $0.23 on November 13th

Mid Penn Bancorp (NASDAQ:MPB) announced a quarterly dividend on Wednesday, October 21st. Stockholders of record on Monday, November 2nd will be paid a dividend of $0.23 per share by the financial services provider on Friday, November 13th. This represents a $0.92 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, November 2nd.

Mid Penn Bancorp has a payout ratio of 27.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Mid Penn Bancorp to earn $3.83 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 24.0%.

Mid Penn Bancorp Trading Down 6.8%

MPB opened at $33.88 on Friday. The stock has a market capitalization of $858.18 million, a P/E ratio of 11.29 and a beta of 0.49. Mid Penn Bancorp has a 12 month low of $27.98 and a 12 month high of $39.15. The firm’s fifty day simple moving average is $36.56 and its 200 day simple moving average is $35.11.

Mid Penn Bancorp (NASDAQ:MPB) last released its earnings results on Wednesday, October 21st. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.01). The firm had revenue of $74.68 million for the quarter, compared to the consensus estimate of $77.72 million. Mid Penn Bancorp had a return on equity of 9.15% and a net margin of 17.83%. On average, equities research analysts predict that Mid Penn Bancorp will post 3.29 EPS for the current fiscal year.

Key Mid Penn Bancorp News

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

• Positive Sentiment: Mid Penn reported third-quarter net income available to common shareholders of $21.6 million, up from $18.3 million a year earlier. Diluted earnings were $0.84 per share, compared with $0.79 in the prior-year quarter. Mid Penn Bancorp Reports Third Quarter Earnings and Declares Dividend
• Positive Sentiment: Loan balances increased to $5.6 billion and deposits rose to $6.1 billion, indicating continued balance-sheet growth. Recent insider activity also showed purchases and no reported sales over the past six months. Mid Penn Reports Third-Quarter Net Income
• Positive Sentiment: The company declared its 64th consecutive quarterly cash dividend of $0.23 per share, payable November 13 to shareholders of record November 2. The annualized dividend is $0.92 per share, supporting income-focused investors. Mid Penn Bancorp Declares Quarterly Cash Dividend
• Neutral Sentiment: Reported results were characterized as broadly in line with some estimates, with quarterly EPS cited at approximately $0.88, versus $0.77 a year earlier. Mid Penn Bancorp Q3 Earnings Match Estimates
• Negative Sentiment: Other reported figures showed EPS of $0.88, narrowly below the $0.89 consensus estimate, while revenue of $74.68 million missed expectations of roughly $77.7 million. The revenue miss likely contributed to the stock’s decline. Mid Penn Bancorp Earnings Results
• Negative Sentiment: Net interest income fell to $64.6 million from $65.3 million in the second quarter, while net interest margin declined to 3.92% from 4.06%. The margin compression raises concerns about profitability as funding and interest-rate pressures persist. Mid Penn Reports Third-Quarter Net Income

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.