Mid Penn Bancorp (NASDAQ:MPB) PT Raised to $37.00 at Keefe, Bruyette & Woods

Mid Penn Bancorp (NASDAQ:MPB) had its price target increased by stock analysts at Keefe, Bruyette & Woods from $34.00 to $37.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 14.84% from the company’s previous close.

Several other equities analysts have also commented on MPB. Piper Sandler upped their price target on shares of Mid Penn Bancorp from $31.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday. StockNews.com cut Mid Penn Bancorp from a “buy” rating to a “hold” rating in a report on Monday, October 14th.

Mid Penn Bancorp Trading Down 0.1 %

MPB traded down $0.03 during midday trading on Tuesday, hitting $32.22. The company’s stock had a trading volume of 2,359 shares, compared to its average volume of 34,462. Mid Penn Bancorp has a 52-week low of $18.67 and a 52-week high of $32.59. The firm has a 50-day moving average price of $29.74 and a two-hundred day moving average price of $25.20. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.12. The firm has a market cap of $537.72 million, a P/E ratio of 13.97 and a beta of 0.58.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Kennedy Capital Management LLC raised its stake in shares of Mid Penn Bancorp by 126.4% in the 1st 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 in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Mid Penn Bancorp by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 418,963 shares of the financial services provider’s stock worth $9,195,000 after buying an additional 31,292 shares during the last quarter. LSV Asset Management grew its position in shares of Mid Penn Bancorp by 21.0% in the 2nd quarter. LSV Asset Management now owns 156,059 shares of the financial services provider’s stock worth $3,425,000 after acquiring an additional 27,098 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Mid Penn Bancorp in the 2nd quarter valued at approximately $282,000. Finally, New Wave Wealth Advisors LLC acquired a new stake in shares of Mid Penn Bancorp during the 2nd quarter valued at approximately $278,000. 43.11% of the stock is owned by institutional investors and hedge funds.

Mid Penn Bancorp Company Profile

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.