Wall Street Zen Downgrades Mid Penn Bancorp (NASDAQ:MPB) to Hold

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

A number of other equities research analysts also recently weighed in 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 lifted 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 analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $37.00.

Mid Penn Bancorp Price Performance

NASDAQ:MPB opened at $32.60 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.95 and a quick ratio of 0.95. Mid Penn Bancorp has a one year low of $22.50 and a one year high of $35.15. The company has a fifty day moving average price of $31.02 and a 200 day moving average price of $29.64. The stock has a market cap of $751.43 million, a P/E 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 (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.03. Mid Penn Bancorp had a net margin of 16.04% and a return on equity of 8.84%. The company had revenue of $61.52 million for the quarter, compared to analyst estimates of $62.65 million. Analysts anticipate that Mid Penn Bancorp will post 3 earnings per share for the current year.

Hedge Funds Weigh In On Mid Penn Bancorp

Institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue bought a new stake in shares of Mid Penn Bancorp during the third quarter worth $26,000. Legal & General Group Plc raised its holdings in shares of Mid Penn Bancorp by 35.6% in the second quarter. Legal & General Group Plc now owns 1,877 shares of the financial services provider’s stock valued at $53,000 after buying an additional 493 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in Mid Penn Bancorp by 35.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,055 shares of the financial services provider’s stock worth $58,000 after buying an additional 540 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Mid Penn Bancorp by 416.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,303 shares of the financial services provider’s stock worth $93,000 after buying an additional 2,664 shares in the last quarter. Finally, Palouse Capital Management Inc. bought a new stake in Mid Penn Bancorp during the 2nd quarter worth about $96,000. Institutional investors own 43.11% of the company’s stock.

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.