Mid Penn Bancorp (NASDAQ:MPB) Sets New 12-Month High – What’s Next?

Shares of Mid Penn Bancorp (NASDAQ:MPB) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $33.25 and last traded at $33.4950, with a volume of 50531 shares trading hands. The stock had previously closed at $31.88.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MPB. Keefe, Bruyette & Woods boosted their price objective on Mid Penn Bancorp from $34.00 to $37.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Wall Street Zen raised Mid Penn Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Mid Penn Bancorp in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Mid Penn Bancorp Stock Performance

The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average of $30.77 and a 200 day moving average of $29.56. The stock has a market capitalization of $772.64 million, a P/E ratio of 13.74 and a beta of 0.56.

Mid Penn Bancorp (NASDAQ:MPB) last announced its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.83 earnings per share (EPS) for the quarter. Mid Penn Bancorp had a net margin of 14.82% and a return on equity of 8.25%. The firm had revenue of $61.52 million for the quarter. Research analysts anticipate that Mid Penn Bancorp will post 3 EPS for the current fiscal year.

Institutional Investors Weigh In On Mid Penn Bancorp

Several large investors have recently modified their holdings of the stock. Lazard Asset Management LLC boosted its stake in Mid Penn Bancorp by 6.9% in the 2nd quarter. Lazard Asset Management LLC now owns 5,576 shares of the financial services provider’s stock valued at $156,000 after buying an additional 358 shares in the last quarter. Legal & General Group Plc boosted its position in Mid Penn Bancorp by 35.6% in the second quarter. Legal & General Group Plc now owns 1,877 shares of the financial services provider’s stock valued at $53,000 after buying an additional 493 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of Mid Penn Bancorp by 35.6% during the second quarter. Ameritas Investment Partners Inc. now owns 2,055 shares of the financial services provider’s stock worth $58,000 after buying an additional 540 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Mid Penn Bancorp by 5.6% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,937 shares of the financial services provider’s stock valued at $308,000 after acquiring an additional 576 shares during the last quarter. Finally, Citadel Advisors LLC grew its position in Mid Penn Bancorp by 5.3% during the 3rd quarter. Citadel Advisors LLC now owns 12,669 shares of the financial services provider’s stock worth $363,000 after acquiring an additional 636 shares during the last quarter. 43.11% of the stock is currently owned by institutional investors.

About Mid Penn Bancorp

Mid Penn Bancorp, Inc is a bank holding company headquartered in Hummelstown, Pennsylvania, serving as the parent of Mid Penn Bank. As a full-service financial institution, Mid Penn Bank operates a network of branches across central Pennsylvania, delivering retail and commercial banking services to individuals, families and businesses in its regional markets.

Through its banking subsidiary, the company offers a broad range of deposit products, including checking accounts, savings accounts and certificates of deposit, alongside consumer and commercial lending solutions.