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

Mid Penn Bancorp, Inc. (NASDAQ:MPB) declared a quarterly dividend on Wednesday, October 23rd, NASDAQ reports. Stockholders of record on Friday, November 8th will be paid a dividend of 0.20 per share by the financial services provider on Monday, November 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Friday, November 8th.

Mid Penn Bancorp has raised its dividend payment by an average of 3.6% annually over the last three years. Mid Penn Bancorp has a payout ratio of 25.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Mid Penn Bancorp to earn $3.23 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 24.8%.

Mid Penn Bancorp Trading Up 0.8 %

Shares of MPB stock opened at $31.25 on Friday. 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 business has a 50-day moving average of $29.52 and a 200 day moving average of $24.91. The stock has a market capitalization of $521.88 million, a PE ratio of 11.45 and a beta of 0.58. Mid Penn Bancorp has a 1-year low of $18.63 and a 1-year high of $32.00.

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

Wall Street Analysts Forecast Growth

MPB has been the topic of a number of recent analyst reports. Piper Sandler raised their price target on shares of Mid Penn Bancorp from $25.00 to $31.00 and gave the stock an “overweight” rating in a report 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 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.