Analysts Expect Mid Penn Bancorp, Inc. (NASDAQ:MPB) to Post $0.58 EPS

Shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) have been assigned an average broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation.

Brokerages have set a 1-year consensus target price of $27.00 for the company and are forecasting that the company will post $0.58 earnings per share for the current quarter, according to Zacks. Zacks has also given Mid Penn Bancorp an industry rank of 196 out of 255 based on the ratings given to related companies.

A number of equities analysts have recently commented on MPB shares. ValuEngine raised shares of Mid Penn Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research downgraded shares of Mid Penn Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, September 24th.

Several large investors have recently added to or reduced their stakes in MPB. JPMorgan Chase & Co. lifted its holdings in shares of Mid Penn Bancorp by 235.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,845 shares of the financial services provider’s stock worth $95,000 after acquiring an additional 2,698 shares during the period. Context BH Capital Management LP lifted its holdings in shares of Mid Penn Bancorp by 6.0% during the 2nd quarter. Context BH Capital Management LP now owns 8,814 shares of the financial services provider’s stock worth $220,000 after acquiring an additional 501 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Mid Penn Bancorp by 49.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 16,303 shares of the financial services provider’s stock valued at $407,000 after purchasing an additional 5,407 shares during the last quarter. Banc Funds Co. LLC lifted its holdings in Mid Penn Bancorp by 54.8% during the 2nd quarter. Banc Funds Co. LLC now owns 55,067 shares of the financial services provider’s stock valued at $1,374,000 after purchasing an additional 19,500 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Mid Penn Bancorp by 28.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 34,671 shares of the financial services provider’s stock valued at $865,000 after purchasing an additional 7,581 shares during the last quarter. 17.24% of the stock is owned by institutional investors.

MPB stock traded down $0.12 during midday trading on Thursday, reaching $24.80. The company had a trading volume of 321 shares, compared to its average volume of 13,922. Mid Penn Bancorp has a 1 year low of $21.51 and a 1 year high of $28.75. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $217.24 million, a P/E ratio of 12.10 and a beta of 0.57. The company has a 50 day moving average of $24.48 and a two-hundred day moving average of $24.79.

Mid Penn Bancorp (NASDAQ:MPB) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.01). The business had revenue of $20.64 million for the quarter, compared to analyst estimates of $20.39 million. Mid Penn Bancorp had a return on equity of 7.81% and a net margin of 15.61%. On average, sell-side analysts anticipate that Mid Penn Bancorp will post 2.15 earnings per share for the current year.

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.

Read More: Are 12b-1 Fees Affecting Your Mutual Fund Performance?

Get a free copy of the Zacks research report on Mid Penn Bancorp (MPB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Mid Penn Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mid Penn Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.