Mid Penn Bancorp, Inc. Plans Quarterly Dividend of $0.20 (NASDAQ:MPB)

Mid Penn Bancorp, Inc. (NASDAQ:MPB) announced a quarterly dividend on Wednesday, July 24th, Zacks reports. Investors of record on Friday, August 9th will be paid a dividend of 0.20 per share by the financial services provider on Monday, August 26th. This represents a $0.80 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Friday, August 9th.

Mid Penn Bancorp has increased its dividend payment by an average of 3.6% per year over the last three years. Mid Penn Bancorp has a payout ratio of 28.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Mid Penn Bancorp to earn $3.02 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 26.5%.

Mid Penn Bancorp Trading Up 5.7 %

NASDAQ:MPB opened at $28.02 on Friday. The business’s 50-day moving average is $22.16 and its two-hundred day moving average is $21.45. The firm has a market capitalization of $467.65 million, a PE ratio of 12.13 and a beta of 0.59. Mid Penn Bancorp has a 12 month low of $18.63 and a 12 month high of $28.23. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.94 and a quick ratio of 0.94.

Mid Penn Bancorp (NASDAQ:MPB) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.62 by $0.02. Mid Penn Bancorp had a return on equity of 8.06% and a net margin of 15.57%. The firm had revenue of $42.29 million for the quarter, compared to analyst estimates of $40.87 million. Research analysts predict that Mid Penn Bancorp will post 2.67 earnings per share for the current fiscal year.

Insider Activity at Mid Penn Bancorp

In other Mid Penn Bancorp news, Director Soto Matthew G. De acquired 9,615 shares of the company’s stock in a transaction on Monday, April 29th. The shares were bought at an average cost of $20.76 per share, for a total transaction of $199,607.40. Following the acquisition, the director now directly owns 79,190 shares of the company’s stock, valued at $1,643,984.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 10.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Mid Penn Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, May 10th.

About Mid Penn Bancorp

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.