Mid Penn Bancorp (NASDAQ:MPB) Stock Price Crosses Below 50-Day Moving Average of $24.87

Mid Penn Bancorp, Inc. (NASDAQ:MPB)’s share price passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $24.87 and traded as low as $25.98. Mid Penn Bancorp shares last traded at $26.00, with a volume of 470 shares.

Several research firms recently commented on MPB. Zacks Investment Research lowered EXACT Sciences from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. DA Davidson began coverage on Heartland Banccorp in a research report on Tuesday, April 16th. They set a “buy” rating and a $96.00 price target on the stock.

The company has a debt-to-equity ratio of 0.40, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a fifty day moving average of $24.91. The firm has a market cap of $217.65 million, a P/E ratio of 12.61 and a beta of 0.54.

Mid Penn Bancorp (NASDAQ:MPB) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.01. Mid Penn Bancorp had a return on equity of 7.98% and a net margin of 15.82%. The company had revenue of $19.36 million for the quarter, compared to the consensus estimate of $19.90 million. On average, analysts predict that Mid Penn Bancorp, Inc. will post 2.2 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Bank of America Corp DE increased its holdings in Mid Penn Bancorp by 34.8% during the 4th quarter. Bank of America Corp DE now owns 8,359 shares of the financial services provider’s stock worth $192,000 after purchasing an additional 2,156 shares during the last quarter. BRYN MAWR TRUST Co increased its holdings in 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 last quarter. Bank of New York Mellon Corp increased its holdings in 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 last quarter. Wharton Business Group LLC increased its holdings in Mid Penn Bancorp by 7.2% during the 1st quarter. Wharton Business Group LLC now owns 30,580 shares of the financial services provider’s stock worth $749,000 after purchasing an additional 2,065 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Mid Penn Bancorp by 12.1% during the 4th quarter. Geode Capital Management LLC now owns 48,092 shares of the financial services provider’s stock worth $1,107,000 after purchasing an additional 5,187 shares during the last quarter. Institutional investors own 15.26% of the company’s stock.

Mid Penn Bancorp Company Profile (NASDAQ:MPB)

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 IRAs.

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