Mid Penn Bancorp (NASDAQ:MPB) PT Raised to $31.00 at Piper Sandler

Mid Penn Bancorp (NASDAQ:MPB) had its target price lifted by analysts at Piper Sandler from $25.00 to $31.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price objective points to a potential upside of 9.54% from the company’s previous close.

Separately, StockNews.com upgraded shares of Mid Penn Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, May 10th.

Mid Penn Bancorp Price Performance

MPB stock opened at $28.30 on Monday. The firm has a 50 day moving average of $22.29 and a 200-day moving average of $21.45. The firm has a market capitalization of $472.33 million, a P/E ratio of 12.25 and a beta of 0.59. Mid Penn Bancorp has a 12 month low of $18.63 and a 12 month high of $28.37. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.13.

Institutional Investors Weigh In On Mid Penn Bancorp

Several hedge funds have recently bought and sold shares of MPB. SG Americas Securities LLC raised its position in shares of Mid Penn Bancorp by 15.0% during the 4th quarter. SG Americas Securities LLC now owns 8,052 shares of the financial services provider’s stock valued at $196,000 after buying an additional 1,050 shares in the last quarter. BNP Paribas Financial Markets raised its position in Mid Penn Bancorp by 138.5% during the fourth quarter. BNP Paribas Financial Markets now owns 14,713 shares of the financial services provider’s stock valued at $357,000 after purchasing an additional 8,545 shares in the last quarter. Summit Trail Advisors LLC lifted its stake in Mid Penn Bancorp by 20.7% during the fourth quarter. Summit Trail Advisors LLC now owns 15,149 shares of the financial services provider’s stock worth $368,000 after purchasing an additional 2,601 shares during the last quarter. Grace & White Inc. NY boosted its holdings in shares of Mid Penn Bancorp by 75.0% in the 4th quarter. Grace & White Inc. NY now owns 21,103 shares of the financial services provider’s stock worth $512,000 after purchasing an additional 9,042 shares in the last quarter. Finally, BHZ Capital Management LP increased its position in shares of Mid Penn Bancorp by 53.8% during the 4th quarter. BHZ Capital Management LP now owns 23,739 shares of the financial services provider’s stock valued at $576,000 after purchasing an additional 8,307 shares during the last quarter. 43.11% of the stock is currently owned by institutional investors.

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.