Mid Penn Bancorp, Inc. Plans Quarterly Dividend of $0.20 (NASDAQ:MPB)

Mid Penn Bancorp, Inc. (NASDAQ:MPB) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Shareholders of record on Friday, May 10th will be paid a dividend of 0.20 per share by the financial services provider on Monday, May 27th. This represents a $0.80 annualized dividend and a yield of 3.81%. The ex-dividend date is Thursday, May 9th.

Mid Penn Bancorp has increased its dividend by an average of 3.6% annually over the last three years. Mid Penn Bancorp has a dividend payout ratio of 27.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Mid Penn Bancorp to earn $3.10 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 25.8%.

Mid Penn Bancorp Trading Up 2.7 %

NASDAQ MPB opened at $20.98 on Friday. The company has a market cap of $347.64 million, a price-to-earnings ratio of 9.08 and a beta of 0.57. Mid Penn Bancorp has a 52 week low of $18.25 and a 52 week high of $25.92. The business has a 50 day moving average price of $20.25 and a 200-day moving average price of $21.29. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.19.

Mid Penn Bancorp (NASDAQ:MPB) last released its quarterly earnings data on Friday, January 26th. The financial services provider reported $0.73 EPS for the quarter, beating the consensus estimate of $0.59 by $0.14. The firm had revenue of $42.12 million during the quarter, compared to the consensus estimate of $42.03 million. Mid Penn Bancorp had a return on equity of 8.15% and a net margin of 13.89%. As a group, equities analysts expect that Mid Penn Bancorp will post 2.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Soto Matthew G. De purchased 1,185 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was acquired at an average price of $21.13 per share, for a total transaction of $25,039.05. Following the completion of the acquisition, the director now owns 67,863 shares of the company’s stock, valued at approximately $1,433,945.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Mid Penn Bancorp news, Director Soto Matthew G. De acquired 1,185 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were acquired at an average price of $21.13 per share, with a total value of $25,039.05. Following the completion of the transaction, the director now owns 67,863 shares in the company, valued at $1,433,945.19. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Theodore W. Mowery acquired 2,000 shares of the business’s stock in a transaction on Friday, March 15th. The stock was acquired at an average cost of $20.42 per share, for a total transaction of $40,840.00. Following the transaction, the director now owns 31,540 shares of the company’s stock, valued at approximately $644,046.80. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 4,994 shares of company stock worth $103,875. 10.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

MPB has been the subject of several recent research reports. TheStreet downgraded Mid Penn Bancorp from a “b” rating to a “c+” rating in a report on Tuesday, February 13th. Piper Sandler decreased their price objective on Mid Penn Bancorp from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, February 1st.

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.