Mid Penn Bancorp (NASDAQ:MPB) Plans Dividend Increase – $0.23 Per Share

Mid Penn Bancorp (NASDAQ:MPB – Get Free Report) declared a quarterly dividend on Wednesday, July 22nd. Stockholders of record on Monday, August 3rd will be paid a dividend of 0.23 per share by the financial services provider on Friday, August 14th. This represents a c) annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, August 3rd. This is a 4.5% increase from Mid Penn Bancorp’s previous quarterly dividend of $0.22.

Mid Penn Bancorp has increased its dividend by an average of 0.0%per year over the last three years. Mid Penn Bancorp has a dividend payout ratio of 25.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Mid Penn Bancorp to earn $3.75 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 23.5%.

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Mid Penn Bancorp Trading Down 1.1%

Shares of NASDAQ MPB opened at $34.89 on Thursday. The stock’s 50-day moving average is $33.68 and its 200 day moving average is $33.02. The stock has a market cap of $884.11 million, a price-to-earnings ratio of 15.86 and a beta of 0.47. Mid Penn Bancorp has a 1-year low of $26.50 and a 1-year high of $37.17.

Mid Penn Bancorp (NASDAQ:MPB – Get Free Report) last issued its earnings results on Wednesday, July 22nd. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.08. The business had revenue of $75.87 million during the quarter, compared to analyst estimates of $73.28 million. Mid Penn Bancorp had a return on equity of 8.31% and a net margin of 13.95%. On average, analysts forecast that Mid Penn Bancorp will post 3.2 EPS for the current fiscal year.

Mid Penn Bancorp Company Profile

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Mid Penn Bancorp, Inc is a bank holding company headquartered in Hummelstown, Pennsylvania, serving as the parent of Mid Penn Bank. As a full-service financial institution, Mid Penn Bank operates a network of branches across central Pennsylvania, delivering retail and commercial banking services to individuals, families and businesses in its regional markets.

Through its banking subsidiary, the company offers a broad range of deposit products, including checking accounts, savings accounts and certificates of deposit, alongside consumer and commercial lending solutions.

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