Mid Penn Bancorp, Inc. (NASDAQ:MPB) – Investment analysts at Piper Sandler decreased their Q1 2020 EPS estimates for Mid Penn Bancorp in a report issued on Monday, March 23rd. Piper Sandler analyst F. Schiraldi now expects that the financial services provider will earn $0.40 per share for the quarter, down from their prior forecast of $0.43. Piper Sandler has a “Neutral” rating and a $24.00 price objective on the stock. Piper Sandler also issued estimates for Mid Penn Bancorp’s Q2 2020 earnings at $0.43 EPS, Q3 2020 earnings at $0.45 EPS, Q4 2020 earnings at $0.45 EPS, FY2020 earnings at $1.73 EPS, Q1 2021 earnings at $0.40 EPS, Q2 2021 earnings at $0.51 EPS and FY2021 earnings at $2.00 EPS.
Mid Penn Bancorp (NASDAQ:MPB) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.52 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.05). Mid Penn Bancorp had a net margin of 16.40% and a return on equity of 7.60%. The firm had revenue of $22.00 million during the quarter.
A number of other research firms have also commented on MPB. Zacks Investment Research lowered shares of Mid Penn Bancorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 4th. ValuEngine lowered shares of Mid Penn Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, March 20th. Finally, TheStreet lowered shares of Mid Penn Bancorp from a “b-” rating to a “c” rating in a research note on Thursday, March 5th. Two analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $26.50.
NASDAQ MPB opened at $20.50 on Wednesday. Mid Penn Bancorp has a 12 month low of $15.50 and a 12 month high of $29.88. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 0.99. The firm has a market capitalization of $168.07 million, a PE ratio of 9.81 and a beta of 0.72. The company’s 50 day simple moving average is $21.79 and its 200 day simple moving average is $25.36.
Institutional investors have recently bought and sold shares of the business. Citigroup Inc. grew its position in Mid Penn Bancorp by 96.9% in the fourth quarter. Citigroup Inc. now owns 1,382 shares of the financial services provider’s stock worth $40,000 after buying an additional 680 shares during the last quarter. Strs Ohio boosted its stake in Mid Penn Bancorp by 307.1% in the 4th quarter. Strs Ohio now owns 5,700 shares of the financial services provider’s stock worth $164,000 after purchasing an additional 4,300 shares during the period. UBS Group AG boosted its stake in Mid Penn Bancorp by 40.5% in the 4th quarter. UBS Group AG now owns 8,520 shares of the financial services provider’s stock worth $245,000 after purchasing an additional 2,454 shares during the period. Barclays PLC boosted its stake in Mid Penn Bancorp by 53.8% in the 4th quarter. Barclays PLC now owns 9,875 shares of the financial services provider’s stock worth $284,000 after purchasing an additional 3,454 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Mid Penn Bancorp by 6.5% in the 4th quarter. Bank of New York Mellon Corp now owns 35,695 shares of the financial services provider’s stock worth $1,028,000 after purchasing an additional 2,164 shares during the period. Hedge funds and other institutional investors own 20.50% of the company’s stock.
In other Mid Penn Bancorp news, Director William A. Specht III purchased 1,500 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were purchased at an average price of $21.05 per share, for a total transaction of $31,575.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Theodore W. Mowery purchased 1,056 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was acquired at an average price of $24.52 per share, for a total transaction of $25,893.12. The disclosure for this purchase can be found here. Insiders have purchased 15,349 shares of company stock worth $334,796 in the last quarter. Company insiders own 18.20% 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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