Mid Penn Bancorp (NASDAQ:MPB) Stock Passes Above Two Hundred Day Moving Average of $22.42

Mid Penn Bancorp, Inc. (NASDAQ:MPB)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $22.42 and traded as high as $30.25. Mid Penn Bancorp shares last traded at $30.21, with a volume of 37,286 shares changing hands.

Analyst Ratings Changes

MPB has been the subject of a number of research reports. Piper Sandler increased their price objective on Mid Penn Bancorp from $25.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. StockNews.com raised Mid Penn Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, August 9th.

Mid Penn Bancorp Trading Up 2.2 %

The firm has a market cap of $504.17 million, a price-to-earnings ratio of 13.08 and a beta of 0.59. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.94 and a quick ratio of 0.94. The business has a 50-day moving average of $25.70 and a 200-day moving average of $22.42.

Mid Penn Bancorp (NASDAQ:MPB) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.06. The firm had revenue of $44.10 million during the quarter, compared to the consensus estimate of $41.63 million. Mid Penn Bancorp had a return on equity of 8.06% and a net margin of 15.57%. Research analysts anticipate that Mid Penn Bancorp, Inc. will post 2.74 EPS for the current year.

Mid Penn Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, August 9th. This represents a $0.80 dividend on an annualized basis and a yield of 2.65%. Mid Penn Bancorp’s payout ratio is 34.63%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Rhumbline Advisers increased its holdings in shares of Mid Penn Bancorp by 4.1% during the 2nd quarter. Rhumbline Advisers now owns 22,344 shares of the financial services provider’s stock worth $490,000 after acquiring an additional 877 shares during the last quarter. ClariVest Asset Management LLC increased its holdings in shares of Mid Penn Bancorp by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 38,366 shares of the financial services provider’s stock valued at $842,000 after purchasing an additional 1,072 shares during the last quarter. LSV Asset Management increased its holdings in shares of Mid Penn Bancorp by 1.3% in the fourth quarter. LSV Asset Management now owns 116,078 shares of the financial services provider’s stock valued at $2,818,000 after purchasing an additional 1,500 shares during the last quarter. Empowered Funds LLC raised its position in shares of Mid Penn Bancorp by 7.8% in the first quarter. Empowered Funds LLC now owns 31,268 shares of the financial services provider’s stock valued at $626,000 after purchasing an additional 2,275 shares during the period. Finally, Wharton Business Group LLC lifted its stake in shares of Mid Penn Bancorp by 3.2% during the 4th quarter. Wharton Business Group LLC now owns 80,841 shares of the financial services provider’s stock worth $1,963,000 after buying an additional 2,510 shares during the last quarter. 43.11% of the stock is currently owned by institutional investors and hedge funds.

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.