Mid Penn Bancorp, Inc. (NASDAQ:MPB) Short Interest Update


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Mid Penn Bancorp, Inc. (NASDAQ:MPB) was the recipient of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 72,100 shares, a growth of 32.8% from the March 31st total of 54,300 shares. Currently, 1.1% of the company’s shares are sold short. Based on an average daily volume of 17,000 shares, the days-to-cover ratio is presently 4.2 days.

A number of research analysts have recently commented on MPB shares. Zacks Investment Research raised shares of Mid Penn Bancorp from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research note on Tuesday, March 16th. Stephens started coverage on shares of Mid Penn Bancorp in a research note on Monday. They set an “overweight” rating and a $30.00 price objective for the company.

Shares of Mid Penn Bancorp stock traded down $0.25 during trading hours on Tuesday, hitting $27.11. The company’s stock had a trading volume of 928 shares, compared to its average volume of 23,578. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $228.08 million, a PE ratio of 10.69 and a beta of 0.65. The business has a fifty day moving average of $26.19 and a 200 day moving average of $23.89. Mid Penn Bancorp has a 1-year low of $16.60 and a 1-year high of $29.87.

Mid Penn Bancorp (NASDAQ:MPB) last issued its quarterly earnings data on Wednesday, April 21st. The financial services provider reported $1.10 EPS for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.19. Mid Penn Bancorp had a return on equity of 8.92% and a net margin of 18.55%. On average, sell-side analysts anticipate that Mid Penn Bancorp will post 2.88 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 24th. Stockholders of record on Monday, May 10th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, May 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.95%. This is a positive change from Mid Penn Bancorp’s previous quarterly dividend of $0.19. Mid Penn Bancorp’s dividend payout ratio (DPR) is currently 36.36%.

Several hedge funds have recently made changes to their positions in the company. Citigroup Inc. increased its stake in Mid Penn Bancorp by 300.9% during the 4th quarter. Citigroup Inc. now owns 1,339 shares of the financial services provider’s stock worth $29,000 after buying an additional 1,005 shares during the period. Grant Street Asset Management Inc. bought a new position in shares of Mid Penn Bancorp during the fourth quarter worth about $60,000. Rhumbline Advisers acquired a new position in Mid Penn Bancorp in the fourth quarter worth $225,000. Strs Ohio boosted its stake in Mid Penn Bancorp by 82.5% in the first quarter. Strs Ohio now owns 10,400 shares of the financial services provider’s stock valued at $278,000 after acquiring an additional 4,700 shares during the period. Finally, LSV Asset Management lifted its stake in Mid Penn Bancorp by 27.4% in the first quarter. LSV Asset Management now owns 18,446 shares of the financial services provider’s stock valued at $494,000 after buying an additional 3,972 shares during the last quarter. Institutional investors and hedge funds own 19.50% 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 IRAs.

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