Mid Penn Bancorp (NASDAQ:MPB) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of Mid Penn Bancorp (NASDAQ:MPB) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $30.63 and traded as high as $32.62. Mid Penn Bancorp shares last traded at $32.47, with a volume of 139,760 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wall Street Zen downgraded Mid Penn Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, January 24th. Weiss Ratings upgraded shares of Mid Penn Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $37.00.

Mid Penn Bancorp Trading Down 0.6%

The firm’s 50-day simple moving average is $32.59 and its 200-day simple moving average is $30.63. The firm has a market capitalization of $748.43 million, a P/E ratio of 12.73 and a beta of 0.55. 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 released 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. The business had revenue of $61.52 million for the quarter, compared to the consensus estimate of $62.65 million. Mid Penn Bancorp had a return on equity of 8.84% and a net margin of 16.04%. Analysts anticipate that Mid Penn Bancorp will post 3 EPS for the current year.

Mid Penn Bancorp Dividend Announcement

The firm also recently announced a special dividend, which was paid on Tuesday, February 17th. Investors of record on Friday, February 6th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a dividend yield of 254.0%. Mid Penn Bancorp’s dividend payout ratio (DPR) is currently 34.51%.

Hedge Funds Weigh In On Mid Penn Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Lazard Asset Management LLC increased its stake in shares of Mid Penn Bancorp by 6.9% during the second quarter. Lazard Asset Management LLC now owns 5,576 shares of the financial services provider’s stock valued at $156,000 after buying an additional 358 shares during the period. Legal & General Group Plc lifted its holdings in shares of Mid Penn Bancorp by 35.6% during the second quarter. Legal & General Group Plc now owns 1,877 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 493 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in Mid Penn Bancorp by 35.6% during the second quarter. Ameritas Investment Partners Inc. now owns 2,055 shares of the financial services provider’s stock valued at $58,000 after buying an additional 540 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Mid Penn Bancorp by 5.6% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,937 shares of the financial services provider’s stock worth $308,000 after purchasing an additional 576 shares during the last quarter. Finally, Citadel Advisors LLC lifted its stake in shares of Mid Penn Bancorp by 5.3% in the third quarter. Citadel Advisors LLC now owns 12,669 shares of the financial services provider’s stock worth $363,000 after buying an additional 636 shares in the last quarter. 43.11% of the stock is currently owned by institutional investors.

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.