Mid Penn Bancorp (NASDAQ:MPB) Price Target Raised to $37.00 at Keefe, Bruyette & Woods

Mid Penn Bancorp (NASDAQ:MPB) had its price target boosted by Keefe, Bruyette & Woods from $34.00 to $37.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Several other equities research analysts have also commented on the stock. Piper Sandler boosted their target price on shares of Mid Penn Bancorp from $31.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. StockNews.com downgraded shares of Mid Penn Bancorp from a “buy” rating to a “hold” rating in a report on Monday, October 14th.

Mid Penn Bancorp Stock Down 3.4 %

Mid Penn Bancorp stock opened at $30.51 on Tuesday. The stock’s 50 day moving average price is $29.99 and its 200 day moving average price is $25.45. Mid Penn Bancorp has a 1-year low of $18.75 and a 1-year high of $32.86. The company has a market cap of $509.52 million, a PE ratio of 10.48 and a beta of 0.58. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.95 and a quick ratio of 0.95.

Mid Penn Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.62%. Mid Penn Bancorp’s payout ratio is 27.49%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. McClarren Financial Advisors Inc. boosted its position in shares of Mid Penn Bancorp by 5,438.1% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 1,163 shares of the financial services provider’s stock worth $34,000 after buying an additional 1,142 shares in the last quarter. SG Americas Securities LLC acquired a new position in Mid Penn Bancorp during the third quarter worth about $163,000. New Wave Wealth Advisors LLC purchased a new stake in shares of Mid Penn Bancorp in the second quarter valued at about $278,000. Squarepoint Ops LLC acquired a new stake in shares of Mid Penn Bancorp in the second quarter valued at approximately $282,000. Finally, Heritage Oak Wealth Advisors LLC purchased a new position in shares of Mid Penn Bancorp during the 3rd quarter worth approximately $378,000. Hedge funds and other institutional investors own 43.11% of the company’s stock.

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.