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

Mid Penn Bancorp, Inc. (NASDAQ:MPB) announced a quarterly dividend on Wednesday, July 24th, Zacks reports. Shareholders of record on Friday, August 9th will be given a dividend of 0.20 per share by the financial services provider on Monday, August 26th. This represents a $0.80 annualized dividend and a yield of 2.86%. The ex-dividend date is Friday, August 9th.

Mid Penn Bancorp has increased its dividend payment by an average of 3.6% annually over the last three years. Mid Penn Bancorp has a dividend payout ratio of 28.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Mid Penn Bancorp to earn $3.02 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 26.5%.

Mid Penn Bancorp Trading Up 5.7 %

Shares of NASDAQ:MPB opened at $28.02 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.13. Mid Penn Bancorp has a 52-week low of $18.63 and a 52-week high of $28.23. The stock has a market cap of $467.65 million, a price-to-earnings ratio of 12.13 and a beta of 0.59. The business has a 50-day moving average price of $22.16 and a 200-day moving average price of $21.45.

Mid Penn Bancorp (NASDAQ:MPB) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. Mid Penn Bancorp had a net margin of 15.57% and a return on equity of 8.06%. The company had revenue of $42.29 million during the quarter, compared to analyst estimates of $40.87 million. Equities analysts predict that Mid Penn Bancorp will post 2.67 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Mid Penn Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, May 10th.

Insider Transactions at Mid Penn Bancorp

In related news, Director Soto Matthew G. De purchased 9,615 shares of Mid Penn Bancorp stock in a transaction that occurred on Monday, April 29th. The stock was bought at an average cost of $20.76 per share, for a total transaction of $199,607.40. Following the completion of the transaction, the director now owns 79,190 shares in the company, valued at $1,643,984.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 10.70% 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 individual retirement accounts.