Mid Penn Bancorp (NASDAQ:MPB) to Issue Quarterly Dividend of $0.23

Mid Penn Bancorp (NASDAQ:MPB) announced a quarterly dividend on Wednesday, October 21st. Stockholders of record on Monday, November 2nd will be given a dividend of $0.23 per share by the financial services provider on Friday, November 13th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Monday, November 2nd.

Mid Penn Bancorp has a dividend payout ratio of 27.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Mid Penn Bancorp to earn $3.83 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 24.0%.

Mid Penn Bancorp Price Performance

Shares of NASDAQ MPB traded down $2.37 during midday trading on Thursday, hitting $33.98. 134,043 shares of the company’s stock were exchanged, compared to its average volume of 142,792. The stock’s 50 day moving average price is $36.65 and its 200-day moving average price is $35.10. The firm has a market cap of $860.81 million, a P/E ratio of 12.00 and a beta of 0.49. Mid Penn Bancorp has a twelve month low of $27.98 and a twelve month high of $39.15.

Mid Penn Bancorp (NASDAQ:MPB) last posted its earnings results on Wednesday, October 21st. The financial services provider reported $0.88 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.01). Mid Penn Bancorp had a net margin of 17.55% and a return on equity of 8.82%. The business had revenue of $74.68 million during the quarter, compared to analyst estimates of $77.72 million. On average, analysts expect that Mid Penn Bancorp will post 3.29 EPS for the current fiscal year.

Mid Penn Bancorp Company Profile

Mid Penn Bancorp, Inc is the holding company for Mid Penn Bank, a community banking institution headquartered in Millersburg, Pennsylvania. The bank provides financial services to individuals, families, businesses, nonprofit organizations and municipalities through a network of community banking offices and digital banking channels.

Mid Penn Bank offers consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, equipment financing, personal loans and credit products.