Mid Penn Bancorp (NASDAQ:MPB) Stock Rating Lowered by Zacks Investment Research
According to Zacks, “MID PENN BANCORP, INC. is a one-bank holding company engaged in general banking business. “
Separately, ValuEngine raised shares of Mid Penn Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 31st.
Mid Penn Bancorp (NASDAQ:MPB) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.05). The company had revenue of $22.00 million for the quarter. Mid Penn Bancorp had a return on equity of 7.66% and a net margin of 16.40%. Research analysts expect that Mid Penn Bancorp will post 1.95 earnings per share for the current fiscal year.
In other news, Director Theodore W. Mowery acquired 1,063 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were bought at an average price of $24.41 per share, with a total value of $25,947.83. 18.20% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of MPB. Strs Ohio increased its stake in Mid Penn Bancorp by 307.1% in the fourth quarter. Strs Ohio now owns 5,700 shares of the financial services provider’s stock valued at $164,000 after acquiring an additional 4,300 shares during the period. Rhumbline Advisers lifted its stake in Mid Penn Bancorp by 10.0% during the third quarter. Rhumbline Advisers now owns 9,016 shares of the financial services provider’s stock worth $231,000 after purchasing an additional 823 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Mid Penn Bancorp by 49.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 16,303 shares of the financial services provider’s stock valued at $407,000 after purchasing an additional 5,407 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Mid Penn Bancorp during the second quarter valued at approximately $813,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Mid Penn Bancorp by 28.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 34,671 shares of the financial services provider’s stock worth $865,000 after buying an additional 7,581 shares during the period. Institutional investors and hedge funds own 18.93% of the company’s stock.
About Mid Penn Bancorp
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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