Mid Penn Bancorp director buys $2,509 in inventory

Following this acquisition, Brumbaugh holds 8,809.039 shares immediately. Moreover, she has 1,099.375 shares not directly by an IRA, and 999 shares as restricted inventory, that are set to vest absolutely on the primary anniversary of the grant date. The acquisition was made by the Director Inventory Buy Plan, and the share steadiness consists of these acquired by way of the Dividend Reinvestment Plan. Buying and selling at a P/E ratio of 9.95 and close to its 52-week excessive of $33.87, InvestingPro subscribers can entry detailed valuation metrics and 7 extra unique insights about MPB’s monetary well being and development prospects. Buying and selling at a P/E ratio of 9.95 and close to its 52-week excessive of $33.87, InvestingPro subscribers can entry detailed valuation metrics and 7 extra unique insights about MPB’s monetary well being and development prospects.

Following this acquisition, Brumbaugh holds 8,809.039 shares immediately. Moreover, she has 1,099.375 shares not directly by an IRA, and 999 shares as restricted inventory, that are set to vest absolutely on the primary anniversary of the grant date. The acquisition was made by the Director Inventory Buy Plan, and the share steadiness consists of these acquired by way of the Dividend Reinvestment Plan.

In different latest information, Mid Penn Bancorp (NASDAQ:MPB) has finalized an extra inventory sale, issuing 356,250 shares of frequent inventory as a part of an underwriting settlement. This follows the corporate’s preliminary public providing of two,375,000 shares at a public providing value of $29.50 per share, managed by Stephens Inc. and Piper Sandler & Co. These latest developments are according to the corporate’s efforts to strengthen its monetary place and help future development initiatives.

Mid Penn Bancorp additionally reported an enchancment in its earnings per share (EPS) for the third quarter of 2024, reaching $0.74, primarily resulting from higher-than-expected web curiosity revenue and payment revenue. This surpassed each analysts’ and consensus estimates. Moreover, the corporate’s pre-provision web income (PPNR) exceeded preliminary forecasts after adjusting for sure bills.

On the analyst entrance, monetary providers agency Piper Sandler upgraded its value goal for Mid Penn Bancorp shares to $35.00, sustaining an Obese score. This adjustment adopted the corporate’s sturdy efficiency within the second quarter, the place it reported an EPS of $0.71, beating estimates. Regardless of a slight improve in nonperforming belongings (NPAs) resulting from a single mortgage migration, Mid Penn Bancorp’s credit score profile stays sturdy. The corporate reported greater capital ranges for the quarter, even with out participating in any share repurchases.

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