Mid Penn Bancorp (MPB) Downgraded to Hold at ValuEngine
Mid Penn Bancorp (NASDAQ:MPB) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
Shares of Mid Penn Bancorp (MPB) opened at $33.31 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $141.25, a P/E ratio of 13.01 and a beta of 0.45. Mid Penn Bancorp has a 52 week low of $22.25 and a 52 week high of $35.75.
A number of large investors have recently added to or reduced their stakes in MPB. ZPR Investment Management increased its stake in shares of Mid Penn Bancorp by 1.5% during the second quarter. ZPR Investment Management now owns 14,550 shares of the financial services provider’s stock worth $399,000 after purchasing an additional 209 shares during the period. Wharton Business Group LLC increased its stake in shares of Mid Penn Bancorp by 52.4% during the second quarter. Wharton Business Group LLC now owns 25,737 shares of the financial services provider’s stock worth $695,000 after purchasing an additional 8,850 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Mid Penn Bancorp by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 25,661 shares of the financial services provider’s stock worth $704,000 after purchasing an additional 810 shares during the period. Hedge funds and other institutional investors own 5.74% of the company’s stock.
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Mid Penn Bancorp, Inc (Mid Penn) is the bank holding company for Mid Penn Bank (the Bank). The Bank engages in a full-service commercial banking and trust business, providing a range of financial services, including mortgage and home equity loans, secured and unsecured commercial and consumer loans, lines of credit, community development loans, loans to non-profit entities and local government loans, and various types of time and demand deposits, including checking accounts, savings accounts, clubs, money market deposit accounts, certificates of deposit and individual retirement accounts (IRAs).
To view ValuEngine’s full report, visit ValuEngine’s official website.
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