Mid Penn Bancorp (NASDAQ:MPB) Stock Rating Lowered by StockNews.com

Mid Penn Bancorp (NASDAQ:MPB) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Monday.

Separately, Piper Sandler boosted their target price on Mid Penn Bancorp from $25.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th.

Mid Penn Bancorp Trading Up 2.1 %

Shares of NASDAQ:MPB opened at $30.94 on Monday. Mid Penn Bancorp has a 12-month low of $18.63 and a 12-month high of $31.73. The business’s fifty day simple moving average is $28.90 and its 200-day simple moving average is $24.47. The company has a market capitalization of $516.36 million, a PE ratio of 13.39 and a beta of 0.58. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.12.

Mid Penn Bancorp (NASDAQ:MPB) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.06. Mid Penn Bancorp had a return on equity of 7.99% and a net margin of 15.57%. The firm had revenue of $44.10 million for the quarter, compared to the consensus estimate of $41.63 million. As a group, equities research analysts predict that Mid Penn Bancorp will post 2.81 earnings per share for the current fiscal year.

Institutional Trading of Mid Penn Bancorp

Several large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in Mid Penn Bancorp during the 3rd quarter valued at about $163,000. New Wave Wealth Advisors LLC purchased a new stake in Mid Penn Bancorp during the 2nd quarter valued at about $278,000. Squarepoint Ops LLC purchased a new stake in Mid Penn Bancorp during the 2nd quarter valued at about $282,000. Dimensional Fund Advisors LP grew its stake in Mid Penn Bancorp by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 418,963 shares of the financial services provider’s stock valued at $9,195,000 after purchasing an additional 31,292 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in Mid Penn Bancorp by 8.8% during the 2nd quarter. American Century Companies Inc. now owns 144,397 shares of the financial services provider’s stock valued at $3,170,000 after purchasing an additional 11,731 shares during the last quarter. Hedge funds and other institutional investors own 43.11% 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 individual retirement accounts.