Mid Penn Bancorp (NASDAQ:MPB) Upgraded at StockNews.com

Mid Penn Bancorp (NASDAQ:MPBGet Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Separately, Zacks Investment Research raised shares of Mid Penn Bancorp from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research note on Wednesday, May 4th.

MPB opened at $25.67 on Thursday. The stock’s 50 day moving average price is $26.63 and its 200 day moving average price is $28.92. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.96 and a quick ratio of 1.00. The stock has a market cap of $409.72 million, a P/E ratio of 10.07 and a beta of 0.55. Mid Penn Bancorp has a 12 month low of $25.33 and a 12 month high of $33.89.

Mid Penn Bancorp (NASDAQ:MPBGet Rating) last released its quarterly earnings results on Wednesday, April 27th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.12. Mid Penn Bancorp had a return on equity of 9.41% and a net margin of 20.32%. Equities analysts anticipate that Mid Penn Bancorp will post 2.83 EPS for the current year.

In other news, Director Theodore W. Mowery bought 1,000 shares of the stock in a transaction that occurred on Friday, May 6th. The shares were purchased at an average cost of $25.79 per share, with a total value of $25,790.00. Following the completion of the acquisition, the director now directly owns 20,227 shares in the company, valued at $521,654.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased 1,643 shares of company stock valued at $43,216 in the last ninety days. Company insiders own 10.30% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Legal & General Group Plc lifted its position in shares of Mid Penn Bancorp by 45.5% during the 4th quarter. Legal & General Group Plc now owns 1,120 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 350 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of Mid Penn Bancorp by 140.3% during the third quarter. Citigroup Inc. now owns 1,122 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 655 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Mid Penn Bancorp by 66.7% in the 3rd quarter. Royal Bank of Canada now owns 1,175 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 470 shares during the period. Russell Investments Group Ltd. purchased a new position in Mid Penn Bancorp in the 3rd quarter worth about $49,000. Finally, Metropolitan Life Insurance Co NY acquired a new stake in Mid Penn Bancorp during the 3rd quarter worth about $75,000. Hedge funds and other institutional investors own 38.54% of the company’s stock.

Mid Penn Bancorp Company Profile (Get Rating)

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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