Wells Fargo & Company MN cut its holdings in Mid Penn Bancorp, Inc. (NASDAQ:MPB) by 34.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,173 shares of the financial services provider’s stock after selling 6,818 shares during the quarter. Wells Fargo & Company MN owned 0.16% of Mid Penn Bancorp worth $329,000 at the end of the most recent quarter.
Several research firms recently issued reports on MPB. Zacks Investment Research cut Mid Penn Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, September 24th. ValuEngine raised Mid Penn Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd.
MPB stock opened at $23.56 on Wednesday. The stock has a market capitalization of $207.66 million, a PE ratio of 11.49 and a beta of 0.57. Mid Penn Bancorp, Inc. has a 12-month low of $21.51 and a 12-month high of $28.75. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.45. The stock’s 50 day simple moving average is $24.63 and its 200 day simple moving average is $24.79.
Mid Penn Bancorp (NASDAQ:MPB) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01). The firm had revenue of $20.64 million for the quarter, compared to the consensus estimate of $20.39 million. Mid Penn Bancorp had a net margin of 15.61% and a return on equity of 7.81%. On average, research analysts predict that Mid Penn Bancorp, Inc. will post 2.15 earnings per share for the current year.
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 IRAs.
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