Mid Penn Bancorp (NASDAQ:MPB) Sets New 1-Year High – Should You Buy?

Mid Penn Bancorp, Inc. (NASDAQ:MPB)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $32.00 and last traded at $31.09, with a volume of 363 shares traded. The stock had previously closed at $31.25.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Piper Sandler upped their price objective on Mid Penn Bancorp from $25.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. StockNews.com cut Mid Penn Bancorp from a “buy” rating to a “hold” rating in a report on Monday, October 14th.

Mid Penn Bancorp Stock Down 1.3 %

The stock has a fifty day moving average price of $29.24 and a two-hundred day moving average price of $24.72. The company has a market cap of $514.52 million, a price-to-earnings ratio of 13.53 and a beta of 0.58. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.12.

Mid Penn Bancorp (NASDAQ:MPB) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.06. The business had revenue of $44.10 million during the quarter, compared to analysts’ expectations of $41.63 million. Mid Penn Bancorp had a net margin of 15.57% and a return on equity of 7.99%. As a group, sell-side analysts expect that Mid Penn Bancorp, Inc. will post 2.81 EPS for the current year.

Mid Penn Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date was Friday, August 9th. Mid Penn Bancorp’s dividend payout ratio (DPR) is presently 34.63%.

Institutional Investors Weigh In On Mid Penn Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its position in shares of Mid Penn Bancorp by 53.2% in the 1st quarter. BNP Paribas Financial Markets now owns 22,545 shares of the financial services provider’s stock worth $451,000 after purchasing an additional 7,832 shares during the period. LSV Asset Management boosted its position in Mid Penn Bancorp by 11.1% during the first quarter. LSV Asset Management now owns 128,961 shares of the financial services provider’s stock valued at $2,581,000 after acquiring an additional 12,883 shares during the last quarter. Empowered Funds LLC grew its holdings in Mid Penn Bancorp by 7.8% during the 1st quarter. Empowered Funds LLC now owns 31,268 shares of the financial services provider’s stock worth $626,000 after acquiring an additional 2,275 shares during the period. Vanguard Group Inc. raised its position in shares of Mid Penn Bancorp by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 688,363 shares of the financial services provider’s stock worth $13,774,000 after acquiring an additional 12,314 shares in the last quarter. Finally, Kennedy Capital Management LLC lifted its stake in shares of Mid Penn Bancorp by 126.4% in the 1st quarter. Kennedy Capital Management LLC now owns 96,086 shares of the financial services provider’s stock valued at $1,923,000 after purchasing an additional 53,650 shares during the period. 43.11% of the stock is currently owned by institutional investors.

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.