Mid Penn Bancorp (NASDAQ:MPB) Price Target Raised to $35.00 at Piper Sandler

Mid Penn Bancorp (NASDAQ:MPB) had its price target increased by Piper Sandler from $31.00 to $35.00 in a research report report published on Monday, Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider’s stock.

Separately, StockNews.com downgraded shares of Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, October 14th.

Mid Penn Bancorp Stock Performance

MPB opened at $32.25 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $538.22 million, a PE ratio of 13.96 and a beta of 0.58. The business has a fifty day simple moving average of $29.74 and a 200 day simple moving average of $25.20. Mid Penn Bancorp has a 1 year low of $18.67 and a 1 year high of $32.59.

Mid Penn Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.48%. Mid Penn Bancorp’s dividend payout ratio (DPR) is presently 34.63%.

Institutional Trading of Mid Penn Bancorp

Institutional investors have recently modified their holdings of the stock. Kennedy Capital Management LLC raised its stake in Mid Penn Bancorp by 126.4% in the first quarter. Kennedy Capital Management LLC now owns 96,086 shares of the financial services provider’s stock valued at $1,923,000 after purchasing an additional 53,650 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Mid Penn Bancorp by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 418,963 shares of the financial services provider’s stock valued at $9,195,000 after buying an additional 31,292 shares in the last quarter. LSV Asset Management raised its position in shares of Mid Penn Bancorp by 21.0% in the 2nd quarter. LSV Asset Management now owns 156,059 shares of the financial services provider’s stock valued at $3,425,000 after buying an additional 27,098 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Mid Penn Bancorp during the 2nd quarter worth approximately $282,000. Finally, New Wave Wealth Advisors LLC acquired a new stake in shares of Mid Penn Bancorp during the 2nd quarter worth approximately $278,000. 43.11% of the stock is currently owned by institutional investors.

Mid Penn Bancorp Company Profile

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.