Mid Penn Bancorp (MPB) Stock Rating Lowered by TheStreet

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Mid Penn Bancorp (NASDAQ:MPB) was downgraded by equities research analysts at TheStreet from a “b” rating to a “c” rating in a research note issued on Monday.

Separately, ValuEngine cut shares of Mid Penn Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, October 17th.

Shares of NASDAQ MPB opened at $26.50 on Monday. The firm has a market capitalization of $211.76 million, a P/E ratio of 12.77 and a beta of 0.48. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.87 and a quick ratio of 0.87. Mid Penn Bancorp has a 1-year low of $24.17 and a 1-year high of $37.90.

In other Mid Penn Bancorp news, Director William A. Specht III purchased 1,300 shares of the business’s stock in a transaction on Friday, August 24th. The shares were purchased at an average cost of $31.50 per share, with a total value of $40,950.00. Following the transaction, the director now directly owns 4,205 shares of the company’s stock, valued at approximately $132,457.50. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have acquired a total of 1,815 shares of company stock worth $57,133 over the last three months. Insiders own 22.50% of the company’s stock.

Several hedge funds have recently modified their holdings of MPB. BlackRock Inc. raised its holdings in shares of Mid Penn Bancorp by 12,689.0% in the 2nd quarter. BlackRock Inc. now owns 189,022 shares of the financial services provider’s stock valued at $6,597,000 after purchasing an additional 187,544 shares during the period. Northern Trust Corp bought a new stake in shares of Mid Penn Bancorp in the 2nd quarter valued at about $1,446,000. Eidelman Virant Capital bought a new stake in shares of Mid Penn Bancorp in the 3rd quarter valued at about $1,144,000. Renaissance Technologies LLC bought a new stake in shares of Mid Penn Bancorp in the 2nd quarter valued at about $527,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Mid Penn Bancorp in the 2nd quarter valued at about $497,000. 8.67% of the stock is currently owned by institutional investors.

About Mid Penn Bancorp

Mid Penn Bancorp, Inc operates as the holding company for Mid Penn Bank that provides commercial banking and trust services to individuals, partnerships, non-profit organizations, and corporations. It 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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