Mid Penn Bancorp, Inc. (NASDAQ:MPB) Receives Average Recommendation of “Hold” from Brokerages

Shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) have been given an average broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation.

Brokers have set a 1-year consensus target price of $26.00 for the company and are forecasting that the company will post $0.57 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Mid Penn Bancorp an industry rank of 139 out of 255 based on the ratings given to its competitors.

A number of analysts have weighed in on MPB shares. ValuEngine upgraded Mid Penn Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research cut Mid Penn Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th.

Shares of MPB traded down $0.60 during mid-day trading on Tuesday, reaching $26.75. The company had a trading volume of 702 shares, compared to its average volume of 10,181. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.99 and a quick ratio of 0.98. The company has a market capitalization of $228.66 million, a P/E ratio of 13.05 and a beta of 0.59. Mid Penn Bancorp has a twelve month low of $21.51 and a twelve month high of $27.81. The company’s 50-day moving average is $26.32 and its 200-day moving average is $25.23.

The company also recently declared a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Wednesday, November 6th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend was Tuesday, November 5th. Mid Penn Bancorp’s dividend payout ratio is currently 35.12%.

Large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC grew its holdings in shares of Mid Penn Bancorp by 2,277.4% during the second quarter. Tower Research Capital LLC TRC now owns 3,257 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 3,120 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Mid Penn Bancorp by 235.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,845 shares of the financial services provider’s stock worth $95,000 after buying an additional 2,698 shares in the last quarter. Context BH Capital Management LP lifted its position in Mid Penn Bancorp by 6.0% during the 2nd quarter. Context BH Capital Management LP now owns 8,814 shares of the financial services provider’s stock worth $220,000 after buying an additional 501 shares in the last quarter. Rhumbline Advisers grew its holdings in Mid Penn Bancorp by 10.0% during the 3rd quarter. Rhumbline Advisers now owns 9,016 shares of the financial services provider’s stock worth $231,000 after acquiring an additional 823 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Mid Penn Bancorp by 49.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 16,303 shares of the financial services provider’s stock worth $407,000 after acquiring an additional 5,407 shares during the last quarter. Hedge funds and other institutional investors own 18.87% 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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