Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) announced its quarterly earnings results on Wednesday. The financial services provider reported $0.71 EPS 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 Stock Down 0.3 %
Shares of MPB traded down $0.09 on Wednesday, hitting $29.69. The company's stock had a trading volume of 74,667 shares, compared to its average volume of 68,967. The firm's fifty day moving average price is $30.24 and its 200-day moving average price is $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. The firm has a market capitalization of $493.45 million, a price-to-earnings ratio of 10.20 and a beta of 0.57.
Insider Buying and Selling at Mid Penn Bancorp
In other news, Director Albert J. Evans purchased 8,474 shares of Mid Penn Bancorp stock in a transaction on Friday, November 1st. The stock was purchased at an average price of $29.50 per share, with a total value of $249,983.00. Following the transaction, the director now directly owns 34,712 shares in the company, valued at $1,024,004. The trade was a 32.30 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last quarter, insiders have purchased 9,678 shares of company stock valued at $285,510. 9.90% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
MPB has been the subject of a number of recent analyst reports. Piper Sandler raised 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. StockNews.com lowered Mid Penn Bancorp from a "buy" rating to a "hold" rating in a research note on Monday, October 14th. Finally, Keefe, Bruyette & Woods upped 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 report on Tuesday, October 29th.
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About Mid Penn Bancorp
(
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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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