Mid Penn Bancorp (NASDAQ:MPB) Posts Earnings Results, Hits Expectations

Mid Penn Bancorp (NASDAQ:MPB) posted its quarterly earnings data on Wednesday. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.71, Zacks reports. Mid Penn Bancorp had a net margin of 16.06% and a return on equity of 8.34%.

Mid Penn Bancorp Stock Performance

MPB stock opened at $29.69 on Thursday. The company has a market capitalization of $493.45 million, a P/E ratio of 10.20 and a beta of 0.57. The company has a 50-day simple moving average of $30.24 and a 200 day simple moving average of $29.29. Mid Penn Bancorp has a fifty-two week low of $19.20 and a fifty-two week high of $33.87. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.12.

Insider Buying and Selling

In other Mid Penn Bancorp news, Director Albert J. Evans purchased 8,474 shares of the company’s stock in a transaction on Friday, November 1st. The shares were purchased at an average cost of $29.50 per share, for a total transaction of $249,983.00. Following the completion of the transaction, the director now owns 34,712 shares in the company, valued at $1,024,004. The trade was a 32.30 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased 9,678 shares of company stock valued at $285,510 over the last 90 days. 10.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on MPB. StockNews.com lowered shares of Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, October 14th. Keefe, Bruyette & Woods lifted 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 note on Tuesday, October 29th. Finally, Piper Sandler lifted their price target on shares of Mid Penn Bancorp from $31.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th.

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 individual retirement accounts.