Mid Penn Bancorp (NASDAQ:MPB) Price Target Increased to $31.00 by Analysts at Piper Sandler

Mid Penn Bancorp (NASDAQ:MPB) had its target price lifted by investment analysts at Piper Sandler from $25.00 to $31.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price objective would indicate a potential upside of 9.54% from the company’s current price.

Separately, StockNews.com raised Mid Penn Bancorp from a “hold” rating to a “buy” rating in a report on Friday, May 10th.

Mid Penn Bancorp Price Performance

Shares of NASDAQ:MPB opened at $28.30 on Monday. Mid Penn Bancorp has a 52 week low of $18.63 and a 52 week high of $28.37. The company has a 50-day moving average price of $22.29 and a 200 day moving average price of $21.45. The company has a market cap of $472.33 million, a P/E ratio of 12.25 and a beta of 0.59. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.13.

Institutional Investors Weigh In On Mid Penn Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC boosted its position in Mid Penn Bancorp by 15.0% during the fourth quarter. SG Americas Securities LLC now owns 8,052 shares of the financial services provider’s stock worth $196,000 after purchasing an additional 1,050 shares in the last quarter. BNP Paribas Financial Markets raised its position in Mid Penn Bancorp by 138.5% during the fourth quarter. BNP Paribas Financial Markets now owns 14,713 shares of the financial services provider’s stock worth $357,000 after acquiring an additional 8,545 shares during the last quarter. Summit Trail Advisors LLC lifted its holdings in shares of Mid Penn Bancorp by 20.7% in the fourth quarter. Summit Trail Advisors LLC now owns 15,149 shares of the financial services provider’s stock valued at $368,000 after purchasing an additional 2,601 shares in the last quarter. Grace & White Inc. NY grew its position in shares of Mid Penn Bancorp by 75.0% in the fourth quarter. Grace & White Inc. NY now owns 21,103 shares of the financial services provider’s stock valued at $512,000 after purchasing an additional 9,042 shares during the last quarter. Finally, BHZ Capital Management LP increased its stake in shares of Mid Penn Bancorp by 53.8% during the 4th quarter. BHZ Capital Management LP now owns 23,739 shares of the financial services provider’s stock worth $576,000 after purchasing an additional 8,307 shares in the last quarter. Institutional investors and hedge funds own 43.11% 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 individual retirement accounts.