Mid Penn Bancorp (NASDAQ:MPB – Get Free Report) issued its quarterly earnings results on Wednesday. The financial services provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.02, reports. Mid Penn Bancorp had a return on equity of 7.99% and a net margin of 15.57%. The firm had revenue of $45.35 million for the quarter, compared to analysts’ expectations of $44.24 million.
Mid Penn Bancorp Stock Down 1.5 %
Shares of MPB traded down $0.48 during trading hours on Friday, hitting $30.77. 10,929 shares of the company were exchanged, compared to its average volume of 34,341. The firm’s 50 day moving average is $29.52 and its 200-day moving average is $24.91. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.95 and a current ratio of 0.95. Mid Penn Bancorp has a 52 week low of $18.65 and a 52 week high of $32.00. The company has a market cap of $513.86 million, a PE ratio of 11.45 and a beta of 0.58.
Mid Penn Bancorp Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be given a $0.20 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.60%. Mid Penn Bancorp’s dividend payout ratio is currently 29.30%.
Institutional Investors Weigh In On Mid Penn Bancorp
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the stock. Piper Sandler boosted their price target on shares of Mid Penn Bancorp from $25.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, July 29th. StockNews.com downgraded Mid Penn Bancorp from a “buy” rating to a “hold” rating in a report on Monday, October 14th.
Check Out Our Latest Stock Analysis on Mid Penn Bancorp
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.
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