Mid Penn Bancorp (NASDAQ:MPB) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Mid Penn Bancorp (NASDAQ:MPBGet Free Report) had its price objective raised by investment analysts at Keefe, Bruyette & Woods from $34.00 to $37.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 16.06% from the stock’s previous close.

A number of other analysts have also issued reports on MPB. StockNews.com lowered Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, October 14th. Piper Sandler upped their price target on Mid Penn Bancorp from $31.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday.

View Our Latest Report on Mid Penn Bancorp

Mid Penn Bancorp Stock Down 0.7 %

Mid Penn Bancorp stock opened at $31.88 on Tuesday. The firm has a 50 day simple moving average of $29.90 and a 200 day simple moving average of $25.33. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.12. Mid Penn Bancorp has a 1-year low of $18.75 and a 1-year high of $32.86. The firm has a market capitalization of $532.05 million, a price-to-earnings ratio of 13.80 and a beta of 0.58.

Hedge Funds Weigh In On Mid Penn Bancorp

Institutional investors have recently modified their holdings of the company. Kennedy Capital Management LLC lifted its position in Mid Penn Bancorp by 126.4% in the first quarter. Kennedy Capital Management LLC now owns 96,086 shares of the financial services provider’s stock valued at $1,923,000 after purchasing an additional 53,650 shares during the last quarter. LSV Asset Management raised its holdings in Mid Penn Bancorp by 21.0% during the 2nd quarter. LSV Asset Management now owns 156,059 shares of the financial services provider’s stock valued at $3,425,000 after buying an additional 27,098 shares during the last quarter. Vanguard Group Inc. boosted its position in Mid Penn Bancorp by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 688,363 shares of the financial services provider’s stock valued at $13,774,000 after buying an additional 12,314 shares during the period. Rhumbline Advisers grew its holdings in Mid Penn Bancorp by 4.1% in the 2nd quarter. Rhumbline Advisers now owns 22,344 shares of the financial services provider’s stock worth $490,000 after acquiring an additional 877 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Mid Penn Bancorp by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 418,963 shares of the financial services provider’s stock valued at $9,195,000 after acquiring an additional 31,292 shares during the period. 43.11% of the stock is currently owned by institutional investors.

About Mid Penn Bancorp

(Get Free Report)

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 individual retirement accounts.

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