Mid Penn Bancorp (NASDAQ:MPB) Sees Strong Trading Volume

Shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) saw strong trading volume on Friday . 29,417 shares were traded during trading, a decline of 16% from the previous session’s volume of 34,880 shares.The stock last traded at $30.52 and had previously closed at $30.76.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MPB. StockNews.com upgraded Mid Penn Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Piper Sandler upped their price objective on Mid Penn Bancorp from $25.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th.

Mid Penn Bancorp Stock Down 0.6 %

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 company has a market cap of $510.52 million, a P/E ratio of 13.32 and a beta of 0.58. The stock has a 50-day moving average of $27.89 and a 200 day moving average of $23.25.

Mid Penn Bancorp (NASDAQ:MPB) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.06. Mid Penn Bancorp had a return on equity of 7.99% and a net margin of 15.57%. The firm had revenue of $44.10 million for the quarter, compared to analyst estimates of $41.63 million. Research analysts anticipate that Mid Penn Bancorp, Inc. will post 2.81 earnings per share for the current year.

Mid Penn Bancorp Dividend Announcement

The business also recently disclosed 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 dividend yield of 2.62%. The ex-dividend date was Friday, August 9th. Mid Penn Bancorp’s dividend payout ratio is currently 34.63%.

Institutional Investors Weigh In On Mid Penn Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the company. New Wave Wealth Advisors LLC purchased a new stake in Mid Penn Bancorp during the 2nd quarter worth about $278,000. Squarepoint Ops LLC bought a new position in shares of Mid Penn Bancorp during the 2nd quarter valued at about $282,000. BNP Paribas Financial Markets increased its position in shares of Mid Penn Bancorp by 138.5% during the 4th quarter. BNP Paribas Financial Markets now owns 14,713 shares of the financial services provider’s stock valued at $357,000 after purchasing an additional 8,545 shares during the last quarter. Rhumbline Advisers increased its position in shares of Mid Penn Bancorp by 4.1% during the 2nd quarter. Rhumbline Advisers now owns 22,344 shares of the financial services provider’s stock valued at $490,000 after purchasing an additional 877 shares during the last quarter. Finally, BHZ Capital Management LP increased its position 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 valued at $576,000 after purchasing an additional 8,307 shares during the last quarter. Institutional investors own 43.11% 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 individual retirement accounts.