Mid Penn Bancorp (NASDAQ:MPB) Announces Earnings Results

Mid Penn Bancorp (NASDAQ:MPB) released its quarterly earnings data on Wednesday. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.71, Zacks reports. Mid Penn Bancorp had a return on equity of 8.34% and a net margin of 16.06%.

Mid Penn Bancorp Stock Performance

NASDAQ:MPB traded down $0.09 during mid-day trading on Wednesday, hitting $29.69. 74,667 shares of the stock were exchanged, compared to its average volume of 68,967. The firm’s 50-day simple moving average is $30.24 and its 200 day simple moving average is $29.29. The stock has a market capitalization of $493.45 million, a price-to-earnings ratio of 10.20 and a beta of 0.57. Mid Penn Bancorp has a fifty-two week low of $19.20 and a fifty-two week high of $33.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.94 and a current ratio of 0.95.

Insider Buying and Selling at Mid Penn Bancorp

In related news, Director Albert J. Evans purchased 8,474 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was acquired at an average cost of $29.50 per share, for a total transaction of $249,983.00. Following the completion of the purchase, the director now owns 34,712 shares in the company, valued at approximately $1,024,004. This represents a 32.30 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought a total of 9,678 shares of company stock valued at $285,510 in the last ninety days. 9.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Piper Sandler increased their price target on Mid Penn Bancorp from $31.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. StockNews.com downgraded shares of Mid Penn Bancorp from a “buy” rating to a “hold” rating in a report on Monday, October 14th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Mid Penn Bancorp from $34.00 to $37.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th.

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.