Mid Penn Bancorp (NASDAQ:MPB) Share Price Passes Above 200 Day Moving Average of $21.71

Mid Penn Bancorp, Inc. (NASDAQ:MPB) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.71 and traded as high as $26.26. Mid Penn Bancorp shares last traded at $26.26, with a volume of 17,413 shares traded.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Piper Sandler lifted their price objective on shares of Mid Penn Bancorp from $25.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. StockNews.com raised shares of Mid Penn Bancorp from a “hold” rating to a “buy” rating in a report on Friday.

Mid Penn Bancorp Trading Down 0.5 %

The stock has a market capitalization of $432.75 million, a P/E ratio of 11.23 and a beta of 0.59. The firm’s 50 day moving average price is $23.43 and its 200 day moving average price is $21.75. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.94 and a quick ratio of 0.94.

Mid Penn Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Friday, August 9th. Mid Penn Bancorp’s dividend payout ratio (DPR) is 34.63%.

Hedge Funds Weigh In On Mid Penn Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC raised its stake in shares of Mid Penn Bancorp by 15.0% during the fourth quarter. SG Americas Securities LLC now owns 8,052 shares of the financial services provider’s stock valued at $196,000 after acquiring an additional 1,050 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Mid Penn Bancorp by 138.5% in the fourth quarter. BNP Paribas Financial Markets now owns 14,713 shares of the financial services provider’s stock worth $357,000 after buying an additional 8,545 shares in the last quarter. Summit Trail Advisors LLC raised its stake in Mid Penn Bancorp by 20.7% in the fourth quarter. Summit Trail Advisors LLC now owns 15,149 shares of the financial services provider’s stock worth $368,000 after buying an additional 2,601 shares in the last quarter. Grace & White Inc. NY raised its stake in Mid Penn Bancorp by 75.0% in the fourth quarter. Grace & White Inc. NY now owns 21,103 shares of the financial services provider’s stock worth $512,000 after buying an additional 9,042 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in Mid Penn Bancorp by 4.1% in the second quarter. Rhumbline Advisers now owns 22,344 shares of the financial services provider’s stock worth $490,000 after buying an additional 877 shares in the last quarter. 43.11% of the stock is owned by institutional investors.

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.