Mid Penn Bancorp (NASDAQ:MPB) Releases Earnings Results, Misses Expectations By $0.01 EPS

Mid Penn Bancorp (NASDAQ:MPB) issued its earnings results on Wednesday. The financial services provider reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.01), FiscalAI reports. The company had revenue of $74.68 million during the quarter, compared to analysts’ expectations of $77.72 million. Mid Penn Bancorp had a return on equity of 9.15% and a net margin of 17.83%.

Mid Penn Bancorp Trading Up 1.0%

Shares of Mid Penn Bancorp stock traded up $0.35 during trading hours on Friday, reaching $34.23. The stock had a trading volume of 19,399 shares, compared to its average volume of 142,977. The stock’s 50 day moving average is $36.56 and its 200 day moving average is $35.11. Mid Penn Bancorp has a twelve month low of $27.98 and a twelve month high of $39.15. The firm has a market capitalization of $867.10 million, a PE ratio of 12.10 and a beta of 0.49.

Mid Penn Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Monday, November 2nd will be given a $0.23 dividend. The ex-dividend date is Monday, November 2nd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.7%. Mid Penn Bancorp’s dividend payout ratio is 32.51%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MPB shares. Keefe, Bruyette & Woods lifted their price target on Mid Penn Bancorp from $37.00 to $41.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. Piper Sandler initiated coverage on Mid Penn Bancorp in a report on Friday, October 9th. They issued an “overweight” rating and a $42.00 price target for the company. Raymond James Financial began coverage on Mid Penn Bancorp in a research report on Tuesday, June 30th. They issued an “outperform” rating and a $38.00 price objective on the stock. Weiss Ratings raised shares of Mid Penn Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Finally, Wall Street Zen cut shares of Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.33.

Mid Penn Bancorp Company Profile

Mid Penn Bancorp, Inc is the holding company for Mid Penn Bank, a community banking institution headquartered in Millersburg, Pennsylvania. The bank provides financial services to individuals, families, businesses, nonprofit organizations and municipalities through a network of community banking offices and digital banking channels.

Mid Penn Bank offers consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, equipment financing, personal loans and credit products.