Mid Penn Bancorp (NASDAQ:MPB) PT Raised to $35.00

Mid Penn Bancorp (NASDAQ:MPB) had its target price upped by stock analysts at Piper Sandler from $31.00 to $35.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price target indicates a potential upside of 9.00% from the stock’s current price.

Separately, 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 Performance

NASDAQ:MPB opened at $32.11 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market capitalization of $535.88 million, a PE ratio of 13.90 and a beta of 0.58. Mid Penn Bancorp has a fifty-two week low of $18.67 and a fifty-two week high of $32.59. The company has a fifty day moving average of $29.82 and a two-hundred day moving average of $25.28.

Institutional Trading of Mid Penn Bancorp

Hedge funds have recently bought and sold shares of the business. McClarren Financial Advisors Inc. increased its stake 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 purchased a new stake in shares of Mid Penn Bancorp in the third quarter valued at about $163,000. New Wave Wealth Advisors LLC acquired a new stake in Mid Penn Bancorp during the second quarter worth about $278,000. Squarepoint Ops LLC purchased a new position in Mid Penn Bancorp during the second quarter worth about $282,000. Finally, Heritage Oak Wealth Advisors LLC acquired a new position in Mid Penn Bancorp in the 3rd quarter valued at about $378,000. 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.