Mid Penn Bancorp (MPB) Declares $0.22 Quarterly Dividend with 2.63% Yield
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: seekingalpha
- Quarterly Dividend Announcement: Mid Penn Bancorp declares a quarterly dividend of $0.22 per share, consistent with previous distributions, reflecting the company's stable cash flow and profitability, which is expected to bolster investor confidence.
- Yield Performance: The forward yield of 2.63% associated with this dividend is attractive in the current market environment, potentially drawing more attention from investors seeking stable income.
- Shareholder Record Dates: The dividend will be payable on February 17, with a record date of February 6 and an ex-dividend date also set for February 6, ensuring shareholders can receive their earnings promptly.
- Executive Appointment: Mid Penn Bank appoints Dana Stewart as COO, aiming to leverage her extensive industry experience to enhance operational efficiency and strategic development, thereby strengthening the company's competitive position in the market.
Analyst Views on MPB
Wall Street analysts forecast MPB stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for MPB is 34.00 USD with a low forecast of 34.00 USD and a high forecast of 34.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 31.880
Low
34.00
Averages
34.00
High
34.00
Current: 31.880
Low
34.00
Averages
34.00
High
34.00
About MPB
Mid Penn Bancorp, Inc. is a financial holding company. The Company conducts operations through Mid Penn Bank (the Bank) and its nonbank subsidiaries, engages in a full-service commercial banking and trust business, making available to the community a wide range of financial services, including, mortgage and home equity loans, secured and unsecured commercial and consumer loans, lines of credit, construction financing, farm loans, 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 (IRA). In addition, the Bank provides a full range of trust and wealth management services through its Trust Department. The financial services are provided to individuals, partnerships, non-profit organizations, and corporations through its retail banking offices.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
