Mid Penn Bancorp, Inc. (MPB) to Issue Quarterly Dividend of $0.20 on November 25th

Mid Penn Bancorp, Inc. (NASDAQ:MPB) declared 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 increased its dividend payment by an average of 3.6% annually over the last three years. Mid Penn Bancorp has a payout ratio of 25.8% indicating that its dividend is sufficiently covered by earnings. 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 Performance

NASDAQ MPB opened at $31.25 on Friday. The company has a market cap of $521.88 million, a P/E ratio of 11.45 and a beta of 0.58. The company has a fifty day simple moving average of $29.52 and a 200 day simple moving average of $24.91. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.12. Mid Penn Bancorp has a 12-month low of $18.63 and a 12-month high of $32.00.

Mid Penn Bancorp (NASDAQ:MPB) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.06. The company had revenue of $44.10 million for the quarter, compared to analyst estimates of $41.63 million. Mid Penn Bancorp had a net margin of 15.57% and a return on equity of 7.99%. Sell-side analysts predict that Mid Penn Bancorp will post 2.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on MPB. StockNews.com cut Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, October 14th. Piper Sandler increased their target price on shares of Mid Penn Bancorp from $25.00 to $31.00 and gave the company 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.