Mid Penn Bancorp, Inc. (NASDAQ:MPB) Receives Average Recommendation of “Hold” from Analysts

Mid Penn Bancorp, Inc. (NASDAQ:MPB) has received a consensus broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating.

Brokers have set a 1 year consensus price target of $27.00 for the company and are predicting that the company will post $0.53 EPS for the current quarter, according to Zacks. Zacks has also given Mid Penn Bancorp an industry rank of 178 out of 256 based on the ratings given to its competitors.

Several brokerages have issued reports on MPB. Zacks Investment Research cut shares of EXACT Sciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. DA Davidson began coverage on shares of Heartland Banccorp in a report on Tuesday, April 16th. They set a “buy” rating and a $96.00 target price on the stock.

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Mid Penn Bancorp by 48.8% during the 3rd quarter. Vanguard Group Inc. now owns 47,830 shares of the financial services provider’s stock valued at $1,394,000 after acquiring an additional 15,693 shares during the period. BlackRock Inc. grew its position in shares of Mid Penn Bancorp by 4.6% during the 4th quarter. BlackRock Inc. now owns 222,286 shares of the financial services provider’s stock valued at $5,116,000 after acquiring an additional 9,707 shares during the period. Bank of New York Mellon Corp grew its position in shares of Mid Penn Bancorp by 78.5% during the 4th quarter. Bank of New York Mellon Corp now owns 26,672 shares of the financial services provider’s stock valued at $614,000 after acquiring an additional 11,729 shares during the period. Geode Capital Management LLC grew its position in shares of Mid Penn Bancorp by 12.1% during the 4th quarter. Geode Capital Management LLC now owns 48,092 shares of the financial services provider’s stock valued at $1,107,000 after acquiring an additional 5,187 shares during the period. Finally, Bank of America Corp DE grew its position in shares of Mid Penn Bancorp by 34.8% during the 4th quarter. Bank of America Corp DE now owns 8,359 shares of the financial services provider’s stock valued at $192,000 after acquiring an additional 2,156 shares during the period. Institutional investors own 15.26% of the company’s stock.

Shares of NASDAQ MPB traded up $0.02 during mid-day trading on Friday, reaching $26.00. The company had a trading volume of 1,014 shares, compared to its average volume of 40,496. The stock’s 50-day moving average price is $24.87. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $217.65 million, a PE ratio of 12.68 and a beta of 0.54. Mid Penn Bancorp has a 52 week low of $21.54 and a 52 week high of $33.95.

Mid Penn Bancorp (NASDAQ:MPB) last issued its earnings results on Thursday, April 25th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.01. Mid Penn Bancorp had a net margin of 15.82% and a return on equity of 7.98%. The company had revenue of $19.36 million for the quarter, compared to analysts’ expectations of $19.90 million. As a group, sell-side analysts predict that Mid Penn Bancorp will post 2.2 earnings per share for the current year.

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 IRAs.

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