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

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

Mid Penn Bancorp has increased its dividend payment by an average of 3.6% per year over the last three years. Mid Penn Bancorp has a dividend payout ratio of 25.8% indicating that its dividend is sufficiently covered by earnings. Equities 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

Mid Penn Bancorp stock traded up $0.25 during mid-day trading on Thursday, hitting $31.25. 24,908 shares of the company’s stock traded hands, compared to its average volume of 34,454. Mid Penn Bancorp has a one year low of $18.63 and a one year high of $32.00. 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 firm has a 50 day moving average price of $29.52 and a 200 day moving average price of $24.91. The company 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 released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $44.10 million during the quarter, compared to analyst estimates of $41.63 million. On average, equities analysts forecast that Mid Penn Bancorp will post 2.81 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MPB. Piper Sandler upped their target price on shares of Mid Penn Bancorp from $25.00 to $31.00 and gave the stock 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.

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.