Mid Penn Bancorp (NASDAQ:MPB) Research Coverage Started at Stephens

Stephens initiated coverage on shares of Mid Penn Bancorp (NASDAQ:MPB) in a research note published on Monday, Benzinga reports. The brokerage issued an overweight rating and a $30.00 target price on the financial services provider’s stock.

MPB has been the topic of a number of other reports. Zacks Investment Research cut shares of Mid Penn Bancorp from a buy rating to a hold rating in a report on Thursday, May 6th. Piper Sandler upgraded shares of Mid Penn Bancorp from a neutral rating to an overweight rating and raised their price target for the company from $27.00 to $30.00 in a report on Wednesday, May 5th.

NASDAQ MPB opened at $27.57 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.02 and a current ratio of 1.03. The company has a market capitalization of $232.03 million, a price-to-earnings ratio of 10.77 and a beta of 0.65. The company’s 50-day simple moving average is $26.14 and its two-hundred day simple moving average is $24.22. Mid Penn Bancorp has a one year low of $16.60 and a one year high of $29.87.

Mid Penn Bancorp (NASDAQ:MPB) last posted its earnings results on Wednesday, April 21st. The financial services provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.19. Mid Penn Bancorp had a net margin of 18.55% and a return on equity of 8.92%. Equities analysts expect that Mid Penn Bancorp will post 2.88 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, May 24th. Investors of record on Monday, May 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, May 7th. This is a boost from Mid Penn Bancorp’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a yield of 2.90%. Mid Penn Bancorp’s dividend payout ratio (DPR) is 38.28%.

A number of hedge funds have recently added to or reduced their stakes in the stock. UBS Group AG lifted its stake in Mid Penn Bancorp by 32.2% during the 1st quarter. UBS Group AG now owns 1,717 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 418 shares during the period. Citigroup Inc. lifted 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 valued at $29,000 after acquiring an additional 1,005 shares during the period. BNP Paribas Arbitrage SA lifted its stake in Mid Penn Bancorp by 69.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,552 shares of the financial services provider’s stock valued at $95,000 after acquiring an additional 1,458 shares during the period. JPMorgan Chase & Co. lifted its stake in Mid Penn Bancorp by 4.0% during the 1st quarter. JPMorgan Chase & Co. now owns 38,254 shares of the financial services provider’s stock valued at $1,026,000 after acquiring an additional 1,462 shares during the period. Finally, Grant Street Asset Management Inc. acquired a new stake in Mid Penn Bancorp during the 4th quarter valued at approximately $60,000. Institutional investors 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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