Keefe, Bruyette & Woods Increases Mid Penn Bancorp (NASDAQ:MPB) Price Target to $37.00

by · The Markets Daily

Mid Penn Bancorp (NASDAQ:MPB – Free Report) had its price objective lifted by Keefe, Bruyette & Woods from $34.00 to $37.00 in a research report released on Tuesday morning, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

A number of other equities analysts also recently commented on MPB. StockNews.com downgraded shares of Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, October 14th. Piper Sandler upped their price target on Mid Penn Bancorp from $31.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, October 28th.

Check Out Our Latest Stock Analysis on MPB

Mid Penn Bancorp Stock Down 3.4 %

Shares of Mid Penn Bancorp stock opened at $30.51 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.12. Mid Penn Bancorp has a 52-week low of $18.75 and a 52-week high of $32.86. The company has a market capitalization of $509.52 million, a P/E ratio of 10.48 and a beta of 0.58. The company has a 50 day moving average of $29.99 and a 200 day moving average of $25.45.

Mid Penn Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Friday, November 8th. Mid Penn Bancorp’s payout ratio is currently 27.49%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. increased its stake in Mid Penn Bancorp by 5,438.1% in the third quarter. McClarren Financial Advisors Inc. now owns 1,163 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 1,142 shares during the period. SG Americas Securities LLC acquired a new position in Mid Penn Bancorp in the 3rd quarter valued at about $163,000. New Wave Wealth Advisors LLC purchased a new stake in Mid Penn Bancorp during the 2nd quarter valued at approximately $278,000. Squarepoint Ops LLC acquired a new stake in Mid Penn Bancorp during the 2nd quarter worth approximately $282,000. Finally, Heritage Oak Wealth Advisors LLC purchased a new position in shares of Mid Penn Bancorp in the 3rd quarter valued at approximately $378,000. Institutional investors and hedge funds own 43.11% of the company’s stock.

Mid Penn Bancorp Company Profile

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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.

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