Mid Penn Bancorp (NASDAQ:MPB) Issues Quarterly Earnings Results

Mid Penn Bancorp (NASDAQ:MPB) announced its earnings results on Wednesday. The financial services provider reported $0.71 earnings per share 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 Price Performance

Shares of MPB traded down $0.09 during midday trading on Wednesday, reaching $29.69. The stock had a trading volume of 74,667 shares, compared to its average volume of 68,967. Mid Penn Bancorp has a 52 week low of $19.20 and a 52 week high of $33.87. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.95 and a quick ratio of 0.94. The firm’s 50 day moving average price is $30.24 and its 200-day moving average price is $29.29. The company has a market capitalization of $493.45 million, a P/E ratio of 10.20 and a beta of 0.57.

Insider Transactions at Mid Penn Bancorp

In related news, Director Albert J. Evans bought 8,474 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were acquired at an average cost of $29.50 per share, for a total transaction of $249,983.00. Following the acquisition, the director now directly owns 34,712 shares of the company’s stock, valued at $1,024,004. The trade was a 32.30 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last 90 days, insiders have bought 9,678 shares of company stock valued at $285,510. Corporate insiders own 9.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Keefe, Bruyette & Woods lifted their target price on Mid Penn Bancorp from $34.00 to $37.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. StockNews.com downgraded Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, October 14th. Finally, Piper Sandler lifted their target price 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.

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.