Mid Penn Bancorp (NASDAQ:MPB) Stock Price Crosses Above 200 Day Moving Average of $0.00

Mid Penn Bancorp, Inc. (NASDAQ:MPB) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.00 and traded as high as $29.13. Mid Penn Bancorp shares last traded at $28.94, with a volume of 30,710 shares changing hands.

MPB has been the subject of several recent analyst reports. Stephens initiated coverage on Mid Penn Bancorp in a report on Monday, May 3rd. They issued an “overweight” rating and a $30.00 price objective for the company. Piper Sandler raised Mid Penn Bancorp from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $27.00 to $30.00 in a report on Wednesday, May 5th. Finally, Zacks Investment Research cut Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, May 6th.

The business’s 50 day simple moving average is $27.04. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45. The firm has a market cap of $328.61 million, a price-to-earnings ratio of 7.68 and a beta of 0.70.

Mid Penn Bancorp (NASDAQ:MPB) last posted its quarterly earnings results on Wednesday, April 21st. The financial services provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.19. Mid Penn Bancorp had a return on equity of 12.54% and a net margin of 23.82%. The business had revenue of $30.04 million for the quarter, compared to analysts’ expectations of $29.94 million. Equities research analysts expect that Mid Penn Bancorp, Inc. will post 2.97 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 24th. Shareholders of record on Monday, May 10th were given a dividend of $0.20 per share. This is a boost from Mid Penn Bancorp’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, May 7th. This represents a $0.80 annualized dividend and a yield of 2.78%. Mid Penn Bancorp’s dividend payout ratio (DPR) is presently 25.81%.

Hedge funds have recently bought and sold shares of the business. Banc Funds Co. LLC increased its position in Mid Penn Bancorp by 57.1% during the 4th quarter. Banc Funds Co. LLC now owns 118,172 shares of the financial services provider’s stock worth $2,588,000 after buying an additional 42,950 shares during the period. JPMorgan Chase & Co. increased its position in Mid Penn Bancorp by 54.7% during the 4th quarter. JPMorgan Chase & Co. now owns 36,792 shares of the financial services provider’s stock worth $806,000 after buying an additional 13,013 shares during the period. Citigroup Inc. increased its position in Mid Penn Bancorp by 300.9% during the 4th quarter. Citigroup Inc. now owns 1,339 shares of the financial services provider’s stock worth $29,000 after buying an additional 1,005 shares during the period. Grant Street Asset Management Inc. bought a new position in Mid Penn Bancorp during the 4th quarter worth $60,000. Finally, BlackRock Inc. increased its position in Mid Penn Bancorp by 7.3% during the 4th quarter. BlackRock Inc. now owns 365,930 shares of the financial services provider’s stock worth $8,013,000 after buying an additional 24,913 shares during the period. Hedge funds and other institutional investors own 15.94% of the company’s stock.

Mid Penn Bancorp Company Profile (NASDAQ:MPB)

Mid Penn Bancorp, Inc operates as the bank holding company for Mid Penn Bank that provides commercial banking services to individuals, partnerships, non-profit organizations, and corporations. The company 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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