De Lisle Partners LLP Takes Position in Mid Penn Bancorp $MPB

De Lisle Partners LLP purchased a new stake in Mid Penn Bancorp (NASDAQ:MPB) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 92,824 shares of the financial services provider’s stock, valued at approximately $3,238,000. De Lisle Partners LLP owned approximately 0.37% of Mid Penn Bancorp as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. PNC Financial Services Group Inc. increased its holdings in shares of Mid Penn Bancorp by 280,843.8% during the first quarter. PNC Financial Services Group Inc. now owns 134,853 shares of the financial services provider’s stock worth $4,337,000 after purchasing an additional 134,805 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Mid Penn Bancorp by 11.9% in the first quarter. Dimensional Fund Advisors LP now owns 748,196 shares of the financial services provider’s stock valued at $24,061,000 after buying an additional 79,569 shares during the period. Rhino Investment Partners Inc boosted its stake in shares of Mid Penn Bancorp by 166.1% in the first quarter. Rhino Investment Partners Inc now owns 232,072 shares of the financial services provider’s stock valued at $7,463,000 after buying an additional 144,852 shares during the period. Sei Investments Co. grew its position in Mid Penn Bancorp by 118.3% during the first quarter. Sei Investments Co. now owns 32,142 shares of the financial services provider’s stock worth $1,034,000 after buying an additional 17,420 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Mid Penn Bancorp during the first quarter worth approximately $602,000. 43.11% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MPB has been the subject of several analyst reports. Raymond James Financial began coverage on Mid Penn Bancorp in a report on Tuesday, June 30th. They issued an “outperform” rating and a $38.00 price objective for the company. Keefe, Bruyette & Woods raised their price target on Mid Penn Bancorp from $37.00 to $41.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. Wall Street Zen downgraded Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Zacks Research raised Mid Penn Bancorp to a “hold” rating in a research note on Wednesday, July 1st. Finally, Weiss Ratings upgraded shares of Mid Penn Bancorp from a “hold (c+)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Mid Penn Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.50.

Mid Penn Bancorp Stock Performance

Shares of MPB stock opened at $37.24 on Friday. The stock’s fifty day moving average price is $36.01 and its two-hundred day moving average price is $33.92. The company has a market cap of $943.29 million, a PE ratio of 13.16 and a beta of 0.47. Mid Penn Bancorp has a fifty-two week low of $26.56 and a fifty-two week high of $39.15.

Mid Penn Bancorp (NASDAQ:MPB) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.08. Mid Penn Bancorp had a return on equity of 8.82% and a net margin of 17.55%.The company had revenue of $75.87 million for the quarter, compared to analyst estimates of $73.28 million. On average, equities analysts predict that Mid Penn Bancorp will post 3.33 EPS for the current fiscal year.

Mid Penn Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were given a $0.23 dividend. This is a boost from Mid Penn Bancorp’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Monday, August 3rd. Mid Penn Bancorp’s dividend payout ratio (DPR) is presently 32.51%.

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.