DA Davidson started coverage on shares of Mid Penn Bancorp (NASDAQ:MPB) in a research report released on Tuesday, BenzingaRatingsTable reports. The firm issued a neutral rating on the financial services provider’s stock. DA Davidson also issued estimates for Mid Penn Bancorp’s Q1 2019 earnings at $0.47 EPS, Q2 2019 earnings at $0.52 EPS, Q3 2019 earnings at $0.56 EPS, Q4 2019 earnings at $0.60 EPS, FY2019 earnings at $2.15 EPS, Q1 2020 earnings at $0.54 EPS, Q2 2020 earnings at $0.57 EPS, Q3 2020 earnings at $0.59 EPS, Q4 2020 earnings at $0.60 EPS and FY2020 earnings at $2.30 EPS.

MPB has been the subject of a number of other reports. ValuEngine cut shares of Mid Penn Bancorp from a hold rating to a sell rating in a report on Thursday, January 10th. TheStreet upgraded shares of Mid Penn Bancorp from a c rating to a b rating in a report on Thursday, January 31st.

Shares of MPB traded up $0.07 during trading hours on Tuesday, hitting $24.16. 17,919 shares of the stock were exchanged, compared to its average volume of 4,852. Mid Penn Bancorp has a fifty-two week low of $21.69 and a fifty-two week high of $36.75. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.34. The stock has a market cap of $203.80 million, a PE ratio of 12.09 and a beta of 0.59.

Mid Penn Bancorp (NASDAQ:MPB) last posted its quarterly earnings results on Monday, January 28th. The financial services provider reported $0.53 EPS for the quarter. The business had revenue of $19.82 million during the quarter. Mid Penn Bancorp had a net margin of 13.92% and a return on equity of 8.04%.

In other Mid Penn Bancorp news, Director Soto Matthew G. De acquired 2,065 shares of Mid Penn Bancorp stock in a transaction dated Friday, March 22nd. The stock was purchased at an average cost of $24.20 per share, for a total transaction of $49,973.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Theodore W. Mowery acquired 1,000 shares of Mid Penn Bancorp stock in a transaction dated Thursday, February 28th. The shares were acquired at an average price of $25.31 per share, with a total value of $25,310.00. The disclosure for this purchase can be found here. Insiders acquired 3,469 shares of company stock valued at $84,919 over the last 90 days. Corporate insiders own 18.20% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of MPB. Bank of America Corp DE grew its holdings in shares of Mid Penn Bancorp by 34.8% during the fourth quarter. Bank of America Corp DE now owns 8,359 shares of the financial services provider’s stock valued at $192,000 after buying an additional 2,156 shares during the last quarter. BRYN MAWR TRUST Co lifted its position in shares of Mid Penn Bancorp by 6.6% during the fourth quarter. BRYN MAWR TRUST Co now owns 24,252 shares of the financial services provider’s stock valued at $558,000 after purchasing an additional 1,500 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Mid Penn Bancorp by 78.5% during the fourth quarter. Bank of New York Mellon Corp now owns 26,672 shares of the financial services provider’s stock valued at $614,000 after purchasing an additional 11,729 shares in the last quarter. Wharton Business Group LLC lifted its position in shares of Mid Penn Bancorp by 7.3% during the fourth quarter. Wharton Business Group LLC now owns 28,515 shares of the financial services provider’s stock valued at $656,000 after purchasing an additional 1,938 shares in the last quarter. Finally, Banc Funds Co. LLC lifted its position in shares of Mid Penn Bancorp by 22.8% during the fourth quarter. Banc Funds Co. LLC now owns 35,567 shares of the financial services provider’s stock valued at $883,000 after purchasing an additional 6,612 shares in the last quarter. Hedge funds and other institutional investors own 15.25% of the company’s stock.

Mid Penn Bancorp Company Profile

Mid Penn Bancorp, Inc operates as the holding company for Mid Penn Bank that provides commercial banking and trust services to individuals, partnerships, non-profit organizations, and corporations. It offers various time and demand deposit products, including checking accounts, savings accounts, clubs, money market deposit accounts, certificates of deposit, and IRAs.

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