Mid Penn Bancorp (NASDAQ:MPB) Announces Dividend of $0.05

Mid Penn Bancorp (NASDAQ:MPB) declared a dividend on Wednesday, January 21st. Stockholders of record on Friday, February 6th will be given a dividend of 0.05 per share by the financial services provider on Tuesday, February 17th. The ex-dividend date of this dividend is Friday, February 6th.

Mid Penn Bancorp has raised its dividend by an average of 0.0%annually over the last three years. Mid Penn Bancorp has a payout ratio of 25.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Mid Penn Bancorp to earn $3.37 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 26.1%.

Mid Penn Bancorp Trading Up 5.1%

NASDAQ MPB opened at $33.52 on Thursday. The firm has a market capitalization of $772.64 million, a PE ratio of 13.74 and a beta of 0.56. The stock’s 50 day moving average is $30.85 and its 200 day moving average is $29.58. Mid Penn Bancorp has a twelve month low of $22.50 and a twelve month high of $33.56. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.08.

Mid Penn Bancorp (NASDAQ:MPB) last announced its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.80 by $0.03. Mid Penn Bancorp had a return on equity of 8.25% and a net margin of 14.82%.The business had revenue of $61.52 million during the quarter, compared to analyst estimates of $62.65 million. Research analysts forecast that Mid Penn Bancorp will post 3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods raised their price target on Mid Penn Bancorp from $34.00 to $37.00 and gave the company an “outperform” rating in a 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 reiterated 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 given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Mid Penn Bancorp Company Profile

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.