Keefe, Bruyette & Woods Issues Positive Forecast for Mid Penn Bancorp (NASDAQ:MPB) Stock Price

Mid Penn Bancorp (NASDAQ:MPB) had its price objective hoisted by Keefe, Bruyette & Woods from $34.00 to $37.00 in a research report released on Tuesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

MPB has been the topic of several other reports. Piper Sandler raised their target price on Mid Penn Bancorp from $31.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday. StockNews.com cut shares of Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, October 14th.

Mid Penn Bancorp Price Performance

NASDAQ MPB opened at $31.59 on Tuesday. The company has a 50-day moving average price of $29.97 and a two-hundred day moving average price of $25.37. The stock has a market cap of $527.55 million, a price-to-earnings ratio of 10.86 and a beta of 0.58. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.12. Mid Penn Bancorp has a 52 week low of $18.75 and a 52 week high of $32.86.

Mid Penn Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be given a $0.20 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.53%. Mid Penn Bancorp’s payout ratio is 27.49%.

Institutional Trading of Mid Penn Bancorp

A number of institutional investors have recently bought and sold shares of the company. McClarren Financial Advisors Inc. increased its position in Mid Penn Bancorp by 5,438.1% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 1,163 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 1,142 shares during the last quarter. SG Americas Securities LLC acquired a new position in Mid Penn Bancorp in the third quarter worth approximately $163,000. New Wave Wealth Advisors LLC bought a new position in Mid Penn Bancorp during the second quarter valued at approximately $278,000. Squarepoint Ops LLC acquired a new stake in Mid Penn Bancorp in the second quarter valued at approximately $282,000. Finally, Heritage Oak Wealth Advisors LLC acquired a new position in shares of Mid Penn Bancorp during the 3rd quarter worth $378,000. Institutional investors and hedge funds own 43.11% of the company’s stock.

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.