Mid Penn Bancorp (NASDAQ:MPB) Share Price Crosses Above 200 Day Moving Average of $29.18

Mid Penn Bancorp, Inc. (NASDAQ:MPBGet Rating)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $29.18 and traded as high as $33.91. Mid Penn Bancorp shares last traded at $33.75, with a volume of 33,408 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MPB. Piper Sandler upped their target price on Mid Penn Bancorp to $37.00 in a report on Tuesday, November 1st. Stephens boosted their price target on Mid Penn Bancorp to $37.00 in a research report on Wednesday, November 16th. Finally, StockNews.com raised Mid Penn Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, November 11th.

Mid Penn Bancorp Stock Down 0.1 %

The firm has a market cap of $535.95 million, a price-to-earnings ratio of 13.50 and a beta of 0.57. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a 50-day moving average of $31.62 and a 200-day moving average of $29.18.

Mid Penn Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 28th. Shareholders of record on Thursday, November 10th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Wednesday, November 9th. Mid Penn Bancorp’s payout ratio is presently 32.00%.

Institutional Investors Weigh In On Mid Penn Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royce & Associates LP increased its holdings in Mid Penn Bancorp by 233.0% in the second quarter. Royce & Associates LP now owns 96,919 shares of the financial services provider’s stock valued at $2,614,000 after purchasing an additional 67,815 shares during the period. RKL Wealth Management LLC purchased a new position in shares of Mid Penn Bancorp during the 1st quarter valued at $1,472,000. Dimensional Fund Advisors LP grew its position in shares of Mid Penn Bancorp by 26.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 133,241 shares of the financial services provider’s stock valued at $3,572,000 after purchasing an additional 28,237 shares in the last quarter. Endeavour Capital Advisors Inc. lifted its holdings in shares of Mid Penn Bancorp by 29.2% during the 1st quarter. Endeavour Capital Advisors Inc. now owns 107,369 shares of the financial services provider’s stock worth $2,879,000 after acquiring an additional 24,245 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Mid Penn Bancorp by 10.0% during the 1st quarter. State Street Corp now owns 205,785 shares of the financial services provider’s stock worth $5,517,000 after acquiring an additional 18,759 shares during the last quarter. 39.62% of the stock is currently owned by institutional investors.

About Mid Penn Bancorp

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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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