Mid Penn Bancorp (NASDAQ:MPB) Shares Gap Up – Should You Buy?

Shares of Mid Penn Bancorp (NASDAQ:MPB) gapped up prior to trading on Friday . The stock had previously closed at $31.52, but opened at $32.78. Mid Penn Bancorp shares last traded at $33.0050, with a volume of 1,107 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MPB shares. Wall Street Zen downgraded shares of Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, January 24th. Keefe, Bruyette & Woods increased their price target on shares of Mid Penn Bancorp from $34.00 to $37.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Mid Penn Bancorp in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $37.00.

Mid Penn Bancorp Trading Up 0.2%

The company has a market capitalization of $758.35 million, a price-to-earnings ratio of 12.90 and a beta of 0.56. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average price is $31.31 and its two-hundred day moving average price is $29.70.

Mid Penn Bancorp (NASDAQ:MPB) last issued its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $0.83 EPS for the quarter, beating 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 business had revenue of $61.52 million during the quarter, compared to the consensus estimate of $62.65 million. On average, equities analysts predict that Mid Penn Bancorp will post 3 earnings per share for the current fiscal year.

Mid Penn Bancorp Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Tuesday, February 17th. Investors of record on Friday, February 6th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, February 6th. This represents a dividend yield of 253.0%. Mid Penn Bancorp’s dividend payout ratio (DPR) is 34.51%.

Hedge Funds Weigh In On Mid Penn Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC boosted 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 purchasing an additional 358 shares in the last quarter. Legal & General Group Plc raised its holdings in Mid Penn Bancorp by 35.6% in the 2nd 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. boosted 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Mid Penn Bancorp by 5.6% during 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 buying an additional 576 shares during the period. Finally, Citadel Advisors LLC grew its holdings in Mid Penn Bancorp by 5.3% during the 3rd quarter. Citadel Advisors LLC now owns 12,669 shares of the financial services provider’s stock worth $363,000 after acquiring an additional 636 shares during the last quarter. Institutional investors and hedge funds 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.