Mid Penn Bancorp (NASDAQ:MPB) Issues Quarterly Earnings Results

Mid Penn Bancorp (NASDAQ:MPB) issued its quarterly earnings data on Wednesday. The financial services provider reported $0.71 EPS for the quarter, meeting the consensus estimate of $0.71, Zacks reports. Mid Penn Bancorp had a net margin of 15.99% and a return on equity of 8.43%.

Mid Penn Bancorp Price Performance

Shares of NASDAQ MPB opened at $30.00 on Friday. Mid Penn Bancorp has a 1 year low of $19.20 and a 1 year high of $33.87. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.95 and a quick ratio of 0.94. The company’s 50-day moving average is $30.19 and its 200 day moving average is $29.29. The stock has a market capitalization of $498.60 million, a P/E ratio of 10.34 and a beta of 0.57.

Mid Penn Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, February 7th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Friday, February 7th. Mid Penn Bancorp’s dividend payout ratio is currently 27.59%.

Insider Activity at Mid Penn Bancorp

In other Mid Penn Bancorp news, Director Albert J. Evans acquired 8,474 shares of the business’s stock in a transaction on Friday, November 1st. The shares were acquired at an average price of $29.50 per share, for a total transaction of $249,983.00. Following the completion of the acquisition, the director now owns 34,712 shares in the company, valued at $1,024,004. This trade represents a 32.30 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased 9,678 shares of company stock worth $285,510 over the last 90 days. 10.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. StockNews.com downgraded shares of Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, October 14th. Keefe, Bruyette & Woods upped their price objective on shares of Mid Penn Bancorp from $34.00 to $37.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Finally, Piper Sandler upped their price objective on shares of Mid Penn Bancorp from $31.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, October 28th.

Mid Penn Bancorp Company Profile

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 individual retirement accounts.