Zacks: Mid Penn Bancorp, Inc. (NASDAQ:MPB) Given Average Recommendation of “Hold” by Brokerages

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Mid Penn Bancorp, Inc. (NASDAQ:MPB) has been assigned a consensus broker rating score of 3.00 (Hold) from the one brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating.

Brokers have set a twelve-month consensus target price of $26.00 for the company and are expecting that the company will post $0.58 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Mid Penn Bancorp an industry rank of 216 out of 255 based on the ratings given to related companies.

Several equities research analysts recently issued reports on MPB shares. Zacks Investment Research lowered shares of Mid Penn Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, September 24th. ValuEngine raised shares of Mid Penn Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd.

Shares of MPB stock traded down $0.04 on Friday, hitting $25.09. The company’s stock had a trading volume of 158 shares, compared to its average volume of 12,341. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.97 and a quick ratio of 0.97. Mid Penn Bancorp has a fifty-two week low of $21.51 and a fifty-two week high of $27.13. The firm’s fifty day moving average price is $24.89 and its 200-day moving average price is $24.79. The stock has a market capitalization of $210.20 million, a price-to-earnings ratio of 12.24 and a beta of 0.57.

Mid Penn Bancorp (NASDAQ:MPB) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.01). Mid Penn Bancorp had a net margin of 15.61% and a return on equity of 7.81%. The business had revenue of $20.64 million during the quarter, compared to analyst estimates of $20.39 million. Analysts predict that Mid Penn Bancorp will post 2.15 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. Context BH Capital Management LP lifted its position in Mid Penn Bancorp by 6.0% during the 2nd quarter. Context BH Capital Management LP now owns 8,814 shares of the financial services provider’s stock worth $220,000 after acquiring an additional 501 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Mid Penn Bancorp by 235.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,845 shares of the financial services provider’s stock worth $95,000 after acquiring an additional 2,698 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Mid Penn Bancorp by 2,277.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,257 shares of the financial services provider’s stock worth $81,000 after acquiring an additional 3,120 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Mid Penn Bancorp by 49.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 16,303 shares of the financial services provider’s stock worth $407,000 after acquiring an additional 5,407 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Mid Penn Bancorp by 11.5% during the 2nd quarter. Northern Trust Corp now owns 56,041 shares of the financial services provider’s stock worth $1,398,000 after acquiring an additional 5,786 shares during the last quarter. 17.24% of the stock is owned by hedge funds and other institutional investors.

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 IRAs.

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