Mid Penn Bancorp (NASDAQ:MPB) Posts Earnings Results

Mid Penn Bancorp (NASDAQ:MPB) released its quarterly earnings results on Wednesday. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of $61.52 million for the quarter. Mid Penn Bancorp had a return on equity of 8.25% and a net margin of 14.82%.

Mid Penn Bancorp Stock Performance

Shares of MPB opened at $33.52 on Thursday. The stock has a market capitalization of $772.64 million, a P/E ratio of 13.74 and a beta of 0.56. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.95 and a current ratio of 0.95. Mid Penn Bancorp has a 1 year low of $22.50 and a 1 year high of $33.56. The company’s fifty day moving average is $30.85 and its two-hundred day moving average is $29.58.

Mid Penn Bancorp Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Friday, February 6th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Friday, February 6th. Mid Penn Bancorp’s payout ratio is currently 36.07%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC raised its holdings in Mid Penn Bancorp by 107.5% during the first quarter. AQR Capital Management LLC now owns 22,730 shares of the financial services provider’s stock worth $589,000 after purchasing an additional 11,774 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Mid Penn Bancorp by 21.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,361 shares of the financial services provider’s stock worth $268,000 after purchasing an additional 1,796 shares during the period. Empowered Funds LLC increased its position in Mid Penn Bancorp by 55.2% during the 1st quarter. Empowered Funds LLC now owns 57,505 shares of the financial services provider’s stock worth $1,490,000 after purchasing an additional 20,442 shares during the period. Kennedy Investment Group purchased a new position in shares of Mid Penn Bancorp during the 2nd quarter worth approximately $668,000. Finally, CWM LLC lifted its holdings in shares of Mid Penn Bancorp by 21.6% in the 2nd quarter. CWM LLC now owns 12,352 shares of the financial services provider’s stock valued at $348,000 after buying an additional 2,195 shares during the period. 43.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Mid Penn Bancorp from $34.00 to $37.00 and gave the company an “outperform” rating in a report on Monday, October 27th. Weiss Ratings reissued a “hold (c+)” rating on shares of Mid Penn Bancorp in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Mid Penn Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Mid Penn Bancorp Company Profile

Mid Penn Bancorp, Inc is a bank holding company headquartered in Hummelstown, Pennsylvania, serving as the parent of Mid Penn Bank. As a full-service financial institution, Mid Penn Bank operates a network of branches across central Pennsylvania, delivering retail and commercial banking services to individuals, families and businesses in its regional markets.

Through its banking subsidiary, the company offers a broad range of deposit products, including checking accounts, savings accounts and certificates of deposit, alongside consumer and commercial lending solutions.