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Mid Penn Bancorp, Inc. (NASDAQ:MPB) ("Mid Penn"), the parent company of Mid Penn Bank (the "Bank") and MPB Financial Services, LLC, today reported net income available to common shareholders ("earnings") for the quarter ended September 30, 2024 of $12.3 million, or $0.74 per diluted common share, compared to net income of $9.2 million, or $0.56 per diluted common share, for the third quarter of 2023 and a consensus analyst estimate of $0.72 per diluted common share for the third quarter of 2024. Key Highlights of the Third Quarter of 2024: Net income available to common shareholders increased 33.2% to $12.3 million, or $0.74 per diluted common share, for the third quarter of 2024, compar
Mid Penn Bancorp, Inc. (NASDAQ:MPB) ("Mid Penn"), the parent company of Mid Penn Bank (the "Bank") and MPB Financial Services, LLC, today reported net income available to common shareholders ("earnings") for the quarter ended June 30, 2024, of $11.8 million, or $0.71 per diluted common share, compared to net income of $4.8 million, or $0.29 per diluted common share, for the second quarter of 2023 and consensus estimate of $0.60 per diluted common share. Key Highlights of the Second Quarter of 2024: Net income available to common shareholders increased 143.4% to $11.8 million, or $0.71 per diluted common share, for the second quarter of 2024, compared to net income of $4.8 million, or $
Mid Penn Bancorp, Inc. (NASDAQ:MPB) ("Mid Penn"), the parent company of Mid Penn Bank (the "Bank") and MPB Financial Services, LLC, today reported net income available to common shareholders ("earnings") for the quarter ended March 31, 2024, of $12.1 million, or $0.73 per diluted common share, versus analyst consensus of $0.61 per share. Key Highlights of the First Quarter of 2024: Loan growth for the first quarter of 2024 was $64.7 million, or 6.1% (annualized). Total loans increased $706.1 million compared to the first quarter of 2023. Excluding the Brunswick loans of $324.5 million acquired in 2023, organic loan growth for the quarter ended March 31, 2024, from the quarter ended Mar
Mid Penn Bancorp (NASDAQ:MPB) reported quarterly earnings of $0.68 per share which beat the analyst consensus estimate of $0.60 by 13.33 percent. This is unchanged from the same period last year.
What is a Value Stock? A value stock traditionally has a lower price when compared to stock prices of companies in the same industry. This indicates that the company may be undervalued, as investors are not expressing as much interest in such companies. The most commonly used way to check for value is with the price-to-earnings multiple, or P/E. A low P/E multiple is a good indication that the stock is undervalued. The following stocks are considered to be notable value stocks in the financial services sector: Crescent Capital BDC (NASDAQ:CCAP) - P/E: 7.19 Mid Penn Bancorp (NASDAQ:MPB) - P/E: 8.93 Orrstown Finl Servs (NASDAQ:ORRF) - P/E: 7.74 Orange County Bancorp (NASDAQ:OBT) - P/E: 8.79
Mid Penn Bancorp, Inc. ("Mid Penn") (NASDAQ:MPB), the parent company of Mid Penn Bank (the "Bank"), announces the appointment of Justin T. Webb as chief financial officer, effective January 8, 2024. Webb has been an integral part of the Bank since 2012, having served most recently as senior executive vice president and chief operating officer. Mid Penn Chair, President, and CEO Rory G. Ritrievi commented, "I could not be more pleased to announce Justin's appointment as the CFO of Mid Penn Bancorp, Inc. and Mid Penn Bank. We are fortunate to have someone of Justin's caliber and experience already within the Bank and ready to take on this role. His experience with the company is deep as he
HARRISBURG, Pa., May 25, 2023 (GLOBE NEWSWIRE) -- Mid Penn Bancorp, Inc. (Mid Penn) (NASDAQ:MPB), headquartered in Harrisburg, Pennsylvania, is pleased to announce the appointment of Mr. Albert J. (BJ) Evans to its Board of Directors, effective May 19, 2023. Mr. Evans is the President of Fanelli, Evans & Patel, P.C., and has been a trial attorney for 30 years. He is licensed to practice law in Pennsylvania and New Jersey, and is a board member of the Pennsylvania Trial Lawyers Association. He has also served on the boards of Riverview Financial and the Union Bank and Trust Company. Mid Penn Chair, President, and CEO Rory G. Ritrievi stated, "We are thrilled to welcome BJ to our Board of
HARRISBURG, Pa., May 25, 2023 (GLOBE NEWSWIRE) -- Mid Penn Bancorp, Inc. (Mid Penn) (NASDAQ:MPB), headquartered in Harrisburg, Pennsylvania, is pleased to announce the appointment of Joel L. Frank to its Board of Directors, effective May 19, 2023. Mr. Frank previously served as a director of Mid Penn Bank, the wholly-owned subsidiary of Mid Penn. He is the Chairman and Managing Partner of Lamb McErlane PC and concentrates his practice in commercial and civil litigation, attorney and judicial discipline and ethical matters, as well as election law. Mid Penn Chair, President, and CEO Rory G. Ritrievi stated, "We are thrilled to welcome Joel to our Board of Directors. He is highly respected
Mid Penn Bancorp, Inc. ("Mid Penn" or the "Company") (NASDAQ:MPB), the parent company of Mid Penn Bank, announced today that it has completed its underwritten public offering of 2,375,000 shares of common stock at a price of $29.50 per share. The aggregate gross proceeds of the offering were $70 million. The net proceeds of the offering after deducting the underwriting discount and other estimated offering expenses are expected to be approximately $67 million. The Company intends to use the net proceeds of the offering to support its continued growth, including investments in Mid Penn Bank to support organic growth, potential redemption of subordinated debt, future strategic transactions, a
Mid Penn Bancorp, Inc. (NASDAQ:MPB) ("Mid Penn" or the "Company") today announced the pricing of its public offering of 2,375,000 shares of its common stock (the "common stock"), at a price to the public of $29.50 per share, for an aggregate offering amount of $70 million. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 356,250 shares of common stock at the public offering price, less underwriting discounts. Stephens Inc. acted as lead book-running manager for the offering, and Piper Sandler & Co. acted as joint book-running manager for the offering. The Company expects that the net proceeds of the offering will be approximately $67 mi
Mid Penn Bancorp, Inc. (NASDAQ:MPB) ("Mid Penn") and William Penn Bancorporation ("William Penn") (NASDAQ:WMPN) jointly announced today that they have entered into a definitive agreement and plan of merger, pursuant to which William Penn will merge with and into Mid Penn (the "Merger") in an all-stock transaction valued at approximately $127 million, based on Mid Penn's closing stock price as of October 30, 2024. The Merger has been approved unanimously by each company's board of directors and is expected to close in the first half of 2025. Completion of the transaction is subject to customary closing conditions, including the receipt of required regulatory approvals and the approval of Mid
Piper Sandler upgraded Mid Penn Bancorp from Neutral to Overweight and set a new price target of $30.00 from $27.00 previously
Stephens & Co. initiated coverage of Mid Penn Bancorp with a rating of Overweight and set a new price target of $30.00
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