Mid Penn Bancorp (NASDAQ:MPB) Stock Rating Lowered by Wall Street Zen

Mid Penn Bancorp (NASDAQ:MPB) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other research analysts also recently commented on MPB. Weiss Ratings reissued a “hold (c+)” rating on shares of Mid Penn Bancorp in a research report on Wednesday, October 8th. 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 report on Monday, October 27th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Mid Penn Bancorp Stock Performance

MPB opened at $32.60 on Friday. The business’s 50-day simple moving average is $31.02 and its 200 day simple moving average is $29.64. Mid Penn Bancorp has a 52-week low of $22.50 and a 52-week high of $35.15. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $751.43 million, a PE ratio of 12.78 and a beta of 0.56.

Mid Penn Bancorp (NASDAQ:MPB) last posted its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. Mid Penn Bancorp had a return on equity of 8.84% and a net margin of 16.04%.The firm had revenue of $61.52 million during the quarter, compared to the consensus estimate of $62.65 million. As a group, sell-side analysts expect that Mid Penn Bancorp will post 3 earnings per share for the current fiscal year.

Institutional Trading of Mid Penn Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its stake in shares of Mid Penn Bancorp by 107.5% during the 1st quarter. AQR Capital Management LLC now owns 22,730 shares of the financial services provider’s stock worth $589,000 after acquiring an additional 11,774 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Mid Penn Bancorp by 21.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,361 shares of the financial services provider’s stock valued at $268,000 after purchasing an additional 1,796 shares in the last quarter. Empowered Funds LLC grew its holdings in Mid Penn Bancorp by 55.2% during the first quarter. Empowered Funds LLC now owns 57,505 shares of the financial services provider’s stock valued at $1,490,000 after purchasing an additional 20,442 shares during the period. CWM LLC increased its position in Mid Penn Bancorp by 21.6% in the second quarter. CWM LLC now owns 12,352 shares of the financial services provider’s stock worth $348,000 after buying an additional 2,195 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB raised its stake in shares of Mid Penn Bancorp by 4.4% in the second quarter. Wilmington Savings Fund Society FSB now owns 43,400 shares of the financial services provider’s stock worth $1,224,000 after buying an additional 1,848 shares during the period. 43.11% of the stock is owned by hedge funds and other 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.