Mid Penn Bancorp (NASDAQ:MPB) Stock Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Mid Penn Bancorp stock crossed above its 200-day moving average
• The company reported quarterly EPS of $0.64, missing estimates of $0.80, while revenue of $64.85 million beat the $63.15 million consensus.
• Mid Penn declared a quarterly dividend of $0.22 (annualized $0.88, yield 2.7%, ex-dividend May 4) and insiders have recently bought shares (3,408 shares over 90 days), while analysts hold a consensus Buy rating with an average target of $37.00.

Mid Penn Bancorp (NASDAQ:MPB - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $31.47 and traded as high as $34.32. Mid Penn Bancorp shares last traded at $33.14, with a volume of 83,898 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Mid Penn Bancorp from a "buy" rating to a "hold" rating in a research note on Saturday, January 24th. Weiss Ratings raised shares of Mid Penn Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, February 23rd. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $37.00.

Mid Penn Bancorp Stock Down 3.3%

The company has a market cap of $839.77 million, a P/E ratio of 15.06 and a beta of 0.51. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.03. The business's 50 day moving average is $32.64 and its 200 day moving average is $31.47.

Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $0.80 by ($0.16). The business had revenue of $64.85 million during the quarter, compared to the consensus estimate of $63.15 million. Mid Penn Bancorp had a return on equity of 8.55% and a net margin of 13.95%.

Mid Penn Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, May 4th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, May 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.7%. Mid Penn Bancorp's dividend payout ratio is presently 40.00%.

Insiders Place Their Bets

In other Mid Penn Bancorp news, Director Thomas R. Brugger purchased 818 shares of Mid Penn Bancorp stock in a transaction dated Friday, March 6th. The shares were acquired at an average cost of $31.35 per share, with a total value of $25,644.30. Following the completion of the transaction, the director owned 6,110 shares in the company, valued at approximately $191,548.50. This trade represents a 15.46% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Soto Matthew G. De purchased 1,618 shares of Mid Penn Bancorp stock in a transaction dated Thursday, March 12th. The shares were acquired at an average cost of $30.87 per share, for a total transaction of $49,947.66. Following the completion of the transaction, the director owned 114,915 shares of the company's stock, valued at approximately $3,547,426.05. This represents a 1.43% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have bought 3,408 shares of company stock worth $105,578. Insiders own 7.20% of the company's stock.

Hedge Funds Weigh In On Mid Penn Bancorp

Large investors have recently made changes to their positions in the business. Deprince Race & Zollo Inc. increased its position in shares of Mid Penn Bancorp by 18.4% during the fourth quarter. Deprince Race & Zollo Inc. now owns 141,692 shares of the financial services provider's stock worth $4,395,000 after purchasing an additional 22,000 shares in the last quarter. Rafferty Asset Management LLC acquired a new position in shares of Mid Penn Bancorp during the third quarter worth $473,000. UBS Group AG increased its position in shares of Mid Penn Bancorp by 10.3% during the fourth quarter. UBS Group AG now owns 120,208 shares of the financial services provider's stock worth $3,729,000 after purchasing an additional 11,181 shares in the last quarter. Fischer Financial Services Inc. acquired a new position in shares of Mid Penn Bancorp during the fourth quarter worth $205,000. Finally, Mystic Asset Management Inc. grew its holdings in shares of Mid Penn Bancorp by 9.2% during the fourth quarter. Mystic Asset Management Inc. now owns 11,870 shares of the financial services provider's stock valued at $368,000 after buying an additional 1,000 shares during the last quarter. 43.11% of the stock is owned by institutional investors and hedge funds.

About Mid Penn Bancorp

Mid Penn Bancorp, Inc is a bank holding company headquartered in Hummelstown, Pennsylvania, serving as the parent of Mid Penn Bank. As a full-service financial institution, Mid Penn Bank operates a network of branches across central Pennsylvania, delivering retail and commercial banking services to individuals, families and businesses in its regional markets.

Through its banking subsidiary, the company offers a broad range of deposit products, including checking accounts, savings accounts and certificates of deposit, alongside consumer and commercial lending solutions.

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