Shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB – Get Free Report) hit a new 52-week high during mid-day trading on Monday after Piper Sandler raised their price target on the stock from $31.00 to $35.00. Piper Sandler currently has an overweight rating on the stock. Mid Penn Bancorp traded as high as $32.16 and last traded at $32.16, with a volume of 9652 shares. The stock had previously closed at $31.09.
Separately, StockNews.com downgraded Mid Penn Bancorp from a “buy” rating to a “hold” rating in a report on Monday, October 14th.
View Our Latest Analysis on MPB
Institutional Inflows and Outflows
Mid Penn Bancorp Stock Up 3.4 %
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 has a market cap of $536.72 million, a price-to-earnings ratio of 13.78 and a beta of 0.58. The business’s 50 day moving average price is $29.66 and its 200 day moving average price is $25.11.
Mid Penn Bancorp Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.80 annualized dividend and a yield of 2.49%. Mid Penn Bancorp’s dividend payout ratio is presently 34.63%.
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.
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