Mid Penn Bancorp (NASDAQ:MPB) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Mid Penn Bancorp (NASDAQ:MPB – Get Rating) in a research note released on Thursday. The firm issued a hold rating on the financial services provider’s stock.

Separately, Stephens increased their price objective on Mid Penn Bancorp to $38.00 in a report on Thursday, February 9th.

Mid Penn Bancorp Stock Down 2.3 %

MPB stock opened at $26.63 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $422.88 million, a price-to-earnings ratio of 7.74 and a beta of 0.57. Mid Penn Bancorp has a fifty-two week low of $24.81 and a fifty-two week high of $34.99. The stock has a fifty day moving average of $30.27 and a 200-day moving average of $30.91.

Mid Penn Bancorp (NASDAQ:MPB – Get Rating) last posted its quarterly earnings results on Wednesday, January 25th. The financial services provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.04. The company had revenue of $45.29 million during the quarter, compared to the consensus estimate of $45.23 million. Mid Penn Bancorp had a return on equity of 11.04% and a net margin of 28.96%. As a group, equities research analysts predict that Mid Penn Bancorp will post 3.81 earnings per share for the current year.

Mid Penn Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 20th. Investors of record on Friday, February 10th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, February 9th. This represents a $0.80 dividend on an annualized basis and a yield of 3.00%. Mid Penn Bancorp’s dividend payout ratio (DPR) is 23.26%.

Insider Buying and Selling

In related news, Director John E. Noone acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 1st. The shares were acquired at an average price of $31.37 per share, with a total value of $31,370.00. Following the acquisition, the director now owns 33,100 shares of the company’s stock, valued at approximately $1,038,347. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Mid Penn Bancorp news, Director John E. Noone purchased 1,000 shares of the company’s stock in a transaction dated Wednesday, February 1st. The stock was purchased at an average price of $31.37 per share, for a total transaction of $31,370.00. Following the transaction, the director now owns 33,100 shares in the company, valued at approximately $1,038,347. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Theodore W. Mowery purchased 3,300 shares of the company’s stock in a transaction dated Monday, January 30th. The shares were acquired at an average price of $30.43 per share, with a total value of $100,419.00. Following the transaction, the director now owns 24,842 shares in the company, valued at approximately $755,942.06. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 6,000 shares of company stock valued at $179,347. Corporate insiders own 10.30% of the company’s stock.

Institutional Trading of Mid Penn Bancorp

A number of large investors have recently modified their holdings of MPB. Vestcor Inc bought a new stake in shares of Mid Penn Bancorp during the 4th quarter valued at about $70,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Mid Penn Bancorp during the 4th quarter valued at about $77,000. BNP Paribas Arbitrage SA boosted its position in shares of Mid Penn Bancorp by 51.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,500 shares of the financial services provider’s stock valued at $94,000 after acquiring an additional 1,190 shares during the last quarter. UBS Group AG boosted its position in shares of Mid Penn Bancorp by 579.9% during the 3rd quarter. UBS Group AG now owns 3,481 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 2,969 shares during the last quarter. Finally, BNP Paribas Arbitrage SNC boosted its position in shares of Mid Penn Bancorp by 29.7% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 4,539 shares of the financial services provider’s stock valued at $130,000 after acquiring an additional 1,039 shares during the last quarter. Institutional investors own 39.86% of the company’s stock.

About Mid Penn Bancorp

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Mid Penn Bancorp, Inc operates as a bank holding company for Mid Penn Bank, which engages in the provision of commercial banking and financial services. It offers checking and savings accounts, deposits, debit and credit cards, mortgages, loans, cash management, trust and investment services, electronic banking, and wealth management solutions.