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

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

MPB has been the topic of several other reports. StockNews.com lowered shares of Mid Penn Bancorp from a “buy” rating to a “hold” rating in a report on Monday, October 14th. Piper Sandler boosted their target price on shares of Mid Penn Bancorp from $31.00 to $35.00 and gave the company an “overweight” rating in a report on Monday.

Mid Penn Bancorp Stock Performance

NASDAQ:MPB opened at $32.11 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $535.88 million, a price-to-earnings ratio of 13.90 and a beta of 0.58. The company’s 50-day moving average is $29.82 and its two-hundred day moving average is $25.28. Mid Penn Bancorp has a 1-year low of $18.67 and a 1-year high of $32.59.

Mid Penn Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be issued a $0.20 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.80 annualized dividend and a dividend yield of 2.49%. Mid Penn Bancorp’s dividend payout ratio is currently 34.63%.

Hedge Funds Weigh In On Mid Penn Bancorp

Several large investors have recently made changes to their positions in MPB. McClarren Financial Advisors Inc. lifted its holdings 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 acquiring an additional 1,142 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Mid Penn Bancorp during the 3rd quarter worth approximately $163,000. New Wave Wealth Advisors LLC acquired a new stake in Mid Penn Bancorp during the 2nd quarter worth approximately $278,000. Squarepoint Ops LLC acquired a new stake in Mid Penn Bancorp during the 2nd quarter worth approximately $282,000. Finally, Heritage Oak Wealth Advisors LLC acquired a new stake in Mid Penn Bancorp during the 3rd quarter worth approximately $378,000. 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.