Mid Penn Bancorp, Inc. (NASDAQ:MPB – Get Free Report)’s share price reached a new 52-week high on Monday . The stock traded as high as $32.00 and last traded at $31.09, with a volume of 363 shares changing hands. The stock had previously closed at $31.25.
Analyst Upgrades and Downgrades
MPB has been the subject of several research reports. StockNews.com lowered shares of Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, October 14th. Piper Sandler lifted their price target on shares of Mid Penn Bancorp from $25.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th.
View Our Latest Stock Report on Mid Penn Bancorp
Mid Penn Bancorp Stock Up 0.9 %
Mid Penn Bancorp (NASDAQ:MPB – Get Free Report) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.06. The company had revenue of $44.10 million during the quarter, compared to analyst estimates of $41.63 million. Mid Penn Bancorp had a net margin of 15.57% and a return on equity of 7.99%. On average, analysts predict that Mid Penn Bancorp, Inc. will post 2.81 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Mid Penn Bancorp
Several hedge funds have recently made changes to their positions in MPB. Kennedy Capital Management LLC increased its position in shares of Mid Penn Bancorp by 126.4% during the first quarter. Kennedy Capital Management LLC now owns 96,086 shares of the financial services provider’s stock valued at $1,923,000 after buying an additional 53,650 shares during the period. LSV Asset Management grew its holdings in shares of Mid Penn Bancorp by 21.0% during the 2nd quarter. LSV Asset Management now owns 156,059 shares of the financial services provider’s stock worth $3,425,000 after acquiring an additional 27,098 shares during the period. Vanguard Group Inc. raised its position in shares of Mid Penn Bancorp by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 688,363 shares of the financial services provider’s stock worth $13,774,000 after acquiring an additional 12,314 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Mid Penn Bancorp by 4.1% in the 2nd quarter. Rhumbline Advisers now owns 22,344 shares of the financial services provider’s stock valued at $490,000 after purchasing an additional 877 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Mid Penn Bancorp by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 418,963 shares of the financial services provider’s stock valued at $9,195,000 after purchasing an additional 31,292 shares in the last quarter. 43.11% of the stock is owned by hedge funds and other institutional investors.
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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