Mid Penn Bancorp's (MPB) Hold (C+) Rating Reiterated at Weiss Ratings

Key Points

• Weiss Ratings has reiterated its "hold (C+)" rating for Mid Penn Bancorp (MPB), indicating a cautious outlook on the stock.
• Keefe, Bruyette & Woods has lowered its price target from $35.00 to $34.00 while maintaining an "outperform" rating, with an average consensus price target for the stock at $34.50.
• Mid Penn Bancorp reported $0.70 EPS for the last quarter, beating the consensus estimate, and expects to post a total of 3 earnings per share for the current fiscal year.

Mid Penn Bancorp (NASDAQ:MPB - Get Free Report)'s stock had its "hold (c+)" rating reaffirmed by analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Separately, Keefe, Bruyette & Woods dropped their price target on shares of Mid Penn Bancorp from $35.00 to $34.00 and set an "outperform" rating on the stock in a research report on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $34.50.

Mid Penn Bancorp Price Performance

NASDAQ MPB opened at $28.18 on Wednesday. Mid Penn Bancorp has a fifty-two week low of $22.50 and a fifty-two week high of $33.87. The stock's 50-day moving average is $29.22 and its two-hundred day moving average is $27.96. The firm has a market cap of $648.11 million, a P/E ratio of 11.79 and a beta of 0.61. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.95 and a quick ratio of 0.94.

Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.01. Mid Penn Bancorp had a return on equity of 8.13% and a net margin of 13.69%.The business had revenue of $54.35 million for the quarter, compared to analyst estimates of $54.20 million. On average, analysts anticipate that Mid Penn Bancorp will post 3 earnings per share for the current fiscal year.

Institutional Trading of Mid Penn Bancorp

Hedge funds have recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of Mid Penn Bancorp by 3.8% during the first quarter. Wellington Management Group LLP now owns 1,507,231 shares of the financial services provider's stock valued at $39,052,000 after purchasing an additional 55,054 shares during the period. Geode Capital Management LLC increased its holdings in Mid Penn Bancorp by 21.4% in the 2nd quarter. Geode Capital Management LLC now owns 501,446 shares of the financial services provider's stock valued at $14,144,000 after buying an additional 88,398 shares during the period. Alliancebernstein L.P. raised its stake in shares of Mid Penn Bancorp by 164.5% in the 2nd quarter. Alliancebernstein L.P. now owns 396,782 shares of the financial services provider's stock valued at $11,189,000 after buying an additional 246,784 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Mid Penn Bancorp by 2.7% during the 2nd quarter. American Century Companies Inc. now owns 248,030 shares of the financial services provider's stock worth $6,994,000 after acquiring an additional 6,464 shares during the period. Finally, Emerald Mutual Fund Advisers Trust boosted its position in shares of Mid Penn Bancorp by 0.8% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 157,538 shares of the financial services provider's stock valued at $4,443,000 after acquiring an additional 1,200 shares in the last quarter. Institutional investors own 43.11% of the company's stock.

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.

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