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

Mid Penn Bancorp, Inc. (NASDAQ:MPB) announced a quarterly dividend on Wednesday, October 23rd, NASDAQ reports. Stockholders 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 dividend yield of 2.56%. The ex-dividend date is Friday, November 8th.

Mid Penn Bancorp has raised its dividend by an average of 3.6% per year over the last three years. Mid Penn Bancorp has a payout ratio of 25.8% meaning 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 Up 0.8 %

Mid Penn Bancorp stock traded up $0.25 during midday trading on Thursday, reaching $31.25. The stock had a trading volume of 24,908 shares, compared to its average volume of 34,454. Mid Penn Bancorp has a 1-year low of $18.63 and a 1-year high of $32.00. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.95 and a current ratio of 0.95. The firm’s fifty day simple moving average is $29.52 and its 200-day simple moving average is $24.91. The stock has a market capitalization of $521.53 million, a P/E ratio of 13.53 and a beta of 0.58.

Mid Penn Bancorp (NASDAQ:MPB) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.68 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $41.63 million. As a group, analysts expect that Mid Penn Bancorp will post 2.81 EPS for the current fiscal year.

Analyst Ratings Changes

MPB has been the topic of several recent analyst reports. StockNews.com lowered Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, October 14th. Piper Sandler boosted their target price on shares of Mid Penn Bancorp from $25.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, July 29th.

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.