Mid Penn Bancorp (MPB) To Go Ex-Dividend on November 10th

Mid Penn Bancorp (NASDAQ:MPB) declared a quarterly dividend on Wednesday, October 22nd. Stockholders of record on Monday, November 10th will be paid a dividend of 0.22 per share by the financial services provider on Monday, November 24th. This represents a c) dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, November 10th. This is a 10.0% increase from Mid Penn Bancorp’s previous quarterly dividend of $0.20.

Mid Penn Bancorp has increased its dividend payment by an average of 0.0%annually over the last three years. Mid Penn Bancorp has a payout ratio of 25.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Mid Penn Bancorp to earn $3.37 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 26.1%.

Mid Penn Bancorp Stock Up 0.2%

Mid Penn Bancorp stock opened at $28.90 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.95 and a quick ratio of 0.94. The company’s 50-day moving average is $29.19 and its 200-day moving average is $28.45. The firm has a market capitalization of $664.67 million, a PE ratio of 11.84 and a beta of 0.65. Mid Penn Bancorp has a fifty-two week low of $22.50 and a fifty-two week high of $33.87.

Mid Penn Bancorp (NASDAQ:MPB) last posted its quarterly earnings results on Tuesday, September 20th. The financial services provider reported $0.97 EPS for the quarter. The business had revenue of $32.43 million during the quarter. Mid Penn Bancorp had a return on equity of 8.54% and a net margin of 14.82%. Sell-side analysts anticipate that Mid Penn Bancorp will post 3 earnings per share for the current year.

Hedge Funds Weigh In On Mid Penn Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP boosted its position in shares of Mid Penn Bancorp by 3.8% during the 1st quarter. Wellington Management Group LLP now owns 1,507,231 shares of the financial services provider’s stock worth $39,052,000 after acquiring an additional 55,054 shares in the last quarter. Geode Capital Management LLC lifted its stake in Mid Penn Bancorp by 21.4% during the second quarter. Geode Capital Management LLC now owns 501,446 shares of the financial services provider’s stock worth $14,144,000 after purchasing an additional 88,398 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Mid Penn Bancorp by 164.5% in the 2nd quarter. Alliancebernstein L.P. now owns 396,782 shares of the financial services provider’s stock valued at $11,189,000 after purchasing an additional 246,784 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Mid Penn Bancorp by 2.7% in the 2nd quarter. American Century Companies Inc. now owns 248,030 shares of the financial services provider’s stock valued at $6,994,000 after purchasing an additional 6,464 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust increased its stake in shares of Mid Penn Bancorp by 0.8% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 157,538 shares of the financial services provider’s stock valued at $4,443,000 after purchasing an additional 1,200 shares during the last quarter. 43.11% of the stock is currently owned by institutional investors and hedge funds.

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.