Mid Penn Bancorp (MPB) Coverage Initiated at DA Davidson

DA Davidson assumed coverage on shares of Mid Penn Bancorp (NASDAQ:MPB) in a report issued on Tuesday, The Fly reports. The brokerage issued a neutral rating on the financial services provider’s stock.

A number of other research analysts also recently commented on MPB. ValuEngine downgraded Mid Penn Bancorp from a hold rating to a sell rating in a report on Thursday, January 10th. TheStreet raised Mid Penn Bancorp from a c rating to a b rating in a report on Thursday, January 31st.

Shares of MPB opened at $24.14 on Tuesday. The stock has a market capitalization of $204.22 million, a P/E ratio of 12.09 and a beta of 0.59. Mid Penn Bancorp has a one year low of $21.69 and a one year high of $36.75. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.34.

Mid Penn Bancorp (NASDAQ:MPB) last issued its quarterly earnings results on Monday, January 28th. The financial services provider reported $0.53 EPS for the quarter. The firm had revenue of $19.82 million during the quarter. Mid Penn Bancorp had a return on equity of 8.04% and a net margin of 13.92%.

In other news, Director Soto Matthew G. De acquired 2,065 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were purchased at an average price of $24.20 per share, for a total transaction of $49,973.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Theodore W. Mowery acquired 1,000 shares of the business’s stock in a transaction on Thursday, February 28th. The shares were purchased at an average price of $25.31 per share, for a total transaction of $25,310.00. The disclosure for this purchase can be found here. Insiders purchased 3,469 shares of company stock valued at $84,919 in the last three months. 18.20% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in MPB. Bank of America Corp DE raised its stake in Mid Penn Bancorp by 34.8% during the fourth quarter. Bank of America Corp DE now owns 8,359 shares of the financial services provider’s stock valued at $192,000 after buying an additional 2,156 shares in the last quarter. BRYN MAWR TRUST Co raised its position in shares of Mid Penn Bancorp by 6.6% during the 4th quarter. BRYN MAWR TRUST Co now owns 24,252 shares of the financial services provider’s stock worth $558,000 after purchasing an additional 1,500 shares during the period. Bank of New York Mellon Corp raised its position in shares of Mid Penn Bancorp by 78.5% during the 4th quarter. Bank of New York Mellon Corp now owns 26,672 shares of the financial services provider’s stock worth $614,000 after purchasing an additional 11,729 shares during the period. Wharton Business Group LLC raised its position in shares of Mid Penn Bancorp by 7.3% during the 4th quarter. Wharton Business Group LLC now owns 28,515 shares of the financial services provider’s stock worth $656,000 after purchasing an additional 1,938 shares during the period. Finally, Banc Funds Co. LLC raised its position in shares of Mid Penn Bancorp by 22.8% during the 4th quarter. Banc Funds Co. LLC now owns 35,567 shares of the financial services provider’s stock worth $883,000 after purchasing an additional 6,612 shares during the period. Hedge funds and other institutional investors own 15.25% of the company’s stock.

Mid Penn Bancorp Company Profile

Mid Penn Bancorp, Inc operates as the holding company for Mid Penn Bank that provides commercial banking and trust services to individuals, partnerships, non-profit organizations, and corporations. It offers various time and demand deposit products, including checking accounts, savings accounts, clubs, money market deposit accounts, certificates of deposit, and IRAs.

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