Mid Penn Bancorp, Inc. (NASDAQ:MPB) – Investment analysts at Piper Sandler cut their Q1 2020 earnings estimates for shares of Mid Penn Bancorp in a research report issued on Monday, March 23rd. Piper Sandler analyst F. Schiraldi now forecasts that the financial services provider will post earnings per share of $0.40 for the quarter, down from their previous forecast of $0.43. Piper Sandler has a “Neutral” rating and a $24.00 price target on the stock. Piper Sandler also issued estimates for Mid Penn Bancorp’s Q2 2020 earnings at $0.43 EPS, Q3 2020 earnings at $0.45 EPS, Q4 2020 earnings at $0.45 EPS, FY2020 earnings at $1.73 EPS, Q1 2021 earnings at $0.40 EPS, Q2 2021 earnings at $0.51 EPS and FY2021 earnings at $2.00 EPS.
Mid Penn Bancorp (NASDAQ:MPB) last issued its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.05). Mid Penn Bancorp had a return on equity of 7.60% and a net margin of 16.40%. The company had revenue of $22.00 million for the quarter.
Several other equities research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Mid Penn Bancorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 4th. ValuEngine cut shares of Mid Penn Bancorp from a “hold” rating to a “sell” rating in a report on Friday, March 20th. Finally, TheStreet cut shares of Mid Penn Bancorp from a “b-” rating to a “c” rating in a report on Thursday, March 5th. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $26.50.
Shares of MPB stock opened at $20.50 on Wednesday. The firm has a fifty day moving average of $21.79 and a 200-day moving average of $25.36. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.30. Mid Penn Bancorp has a 12-month low of $15.50 and a 12-month high of $29.88. The company has a market capitalization of $168.07 million, a price-to-earnings ratio of 9.81 and a beta of 0.72.
In other Mid Penn Bancorp news, Director William A. Specht III bought 1,500 shares of Mid Penn Bancorp stock in a transaction that occurred on Wednesday, March 4th. The stock was acquired at an average price of $21.05 per share, for a total transaction of $31,575.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Soto Matthew G. De bought 1,101 shares of Mid Penn Bancorp stock in a transaction that occurred on Friday, February 14th. The shares were acquired at an average price of $24.25 per share, with a total value of $26,699.25. The disclosure for this purchase can be found here. Insiders have purchased 15,349 shares of company stock valued at $334,796 in the last 90 days. 18.20% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its stake in Mid Penn Bancorp by 6.5% in the fourth quarter. Bank of New York Mellon Corp now owns 35,695 shares of the financial services provider’s stock valued at $1,028,000 after acquiring an additional 2,164 shares during the last quarter. UBS Group AG lifted its stake in Mid Penn Bancorp by 40.5% in the fourth quarter. UBS Group AG now owns 8,520 shares of the financial services provider’s stock valued at $245,000 after acquiring an additional 2,454 shares during the last quarter. EJF Capital LLC lifted its stake in Mid Penn Bancorp by 2.2% in the fourth quarter. EJF Capital LLC now owns 79,942 shares of the financial services provider’s stock valued at $2,302,000 after acquiring an additional 1,728 shares during the last quarter. Banc Funds Co. LLC lifted its stake in Mid Penn Bancorp by 7.1% in the fourth quarter. Banc Funds Co. LLC now owns 75,222 shares of the financial services provider’s stock valued at $2,166,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Citigroup Inc. lifted its stake in Mid Penn Bancorp by 96.9% in the fourth quarter. Citigroup Inc. now owns 1,382 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 680 shares during the last quarter. Hedge funds and other institutional investors own 20.50% 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 IRAs.
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