Mid Penn Bancorp, Inc. Plans Quarterly Dividend of $0.20 (NASDAQ:MPB)

Mid Penn Bancorp, Inc. (NASDAQ:MPB) announced a quarterly dividend on Wednesday, October 23rd, NASDAQ reports. Investors of record on Friday, November 8th will be given a dividend of 0.20 per share by the financial services provider on Monday, November 25th. This represents a $0.80 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend is Friday, November 8th.

Mid Penn Bancorp has increased its dividend by an average of 3.6% per year over the last three years. Mid Penn Bancorp has a payout ratio of 25.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Mid Penn Bancorp to earn $3.23 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 24.8%.

Mid Penn Bancorp Stock Performance

Shares of Mid Penn Bancorp stock traded up $0.25 during trading on Thursday, reaching $31.25. The company’s stock had a trading volume of 24,908 shares, compared to its average volume of 34,454. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.12. The business’s 50-day moving average price is $29.52 and its 200-day moving average price is $24.91. Mid Penn Bancorp has a 52 week low of $18.63 and a 52 week high of $32.00. The firm has a market cap of $521.53 million, a PE ratio of 13.53 and a beta of 0.58.

Mid Penn Bancorp (NASDAQ:MPB) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.06. Mid Penn Bancorp had a net margin of 15.57% and a return on equity of 7.99%. The firm had revenue of $44.10 million for the quarter, compared to analyst estimates of $41.63 million. Equities analysts forecast that Mid Penn Bancorp will post 2.81 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MPB shares. Piper Sandler upped their target price on Mid Penn Bancorp from $25.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. StockNews.com cut shares of Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, October 14th.

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.