Raymond James Reiterates Buy Rating for Mid Penn Bancorp

Raymond James has reiterated its buy rating for Mid Penn Bancorp, Inc. (NasdaqGM:MPB), setting a price target of $38. This announcement was made on June 30, 2026, by analyst Steve Moss. As of Wednesday, shares of Mid Penn Bancorp traded near $34.24.

Other Institutional Activity in Mid Penn Bancorp

Several institutional investors have shown interest in Mid Penn Bancorp. BlackRock, Inc. increased its holdings by 13,925 shares, bringing its total to 1,497,255 shares valued at approximately $48.2 million, a 0.9% increase. Vanguard Capital Management LLC opened a new position with 915,022 shares worth about $29.4 million. AllianceBernstein L.P. significantly boosted its stake by 312,244 shares, a 54.2% increase, ending with 887,937 shares valued at $27.5 million. Dimensional Fund Advisors LP added 79,569 shares, a rise of 11.9%, to hold 748,196 shares worth $24.1 million. State Street Corp also increased its position by 19,233 shares, a 3.6% uptick, totaling 553,675 shares valued at $17.8 million.

Mid Penn Bancorp, Inc. Stock Down 5.0%

Shares of Mid Penn Bancorp, Inc. on the NasdaqGM were trading near $34.24 on Wednesday. The company has a market capitalization of approximately $883 million and a P/E ratio of 15.84. Its forward P/E is 9.50, suggesting potential earnings growth. With a beta of 0.477, the stock has shown less volatility compared to the broader market. Over the past 52 weeks, the stock's price has ranged from $26.50 to $35.22. The 50-day moving average is $33.07, while the 200-day moving average is $31.54.

Recent Earnings

Mid Penn Bancorp reported revenue of roughly $240.3 million, reflecting a growth of 33.3%. The company's net margin stands at 21.3%, with a return on equity of 6.6%. Earnings per share (EPS) were reported at $2.20. The next earnings report is expected on July 22, 2026.

Dividend

Mid Penn Bancorp offers a dividend rate of $0.86 per share, yielding 2.47% with a payout ratio of 38.18%. This reflects the company's commitment to returning value to shareholders.

Insider Buying and Selling at Mid Penn Bancorp, Inc.

Recent insider activity at Mid Penn Bancorp included several transactions. On June 1, 2026, President and CEO Rory Ritrievi sold 356 shares at an average price of $32.11. On May 15, 2026, Chief Corp Development Officer Kenneth John Stephon made two transactions: he purchased 10,769 shares and sold 5,261 shares at $31.12. Additionally, on May 4, 2026, Matthew De Soto bought 1,525 shares at $32.75. Earlier, on April 1, 2026, Chief Lending Officer Heather Hall and Robert Abel each bought 4,520 and 1,700 shares, respectively.

Analysts Set New Price Targets

On June 30, 2026, Raymond James initiated coverage on Mid Penn Bancorp with a buy rating and a $38 price target. Previously, Keefe, Bruyette & Woods maintained a buy rating with a $37 target on October 27, 2025. The consensus among analysts is a buy rating with an average price target of $35.5 based on two analyst opinions.

About Mid Penn Bancorp

Mid Penn Bancorp, Inc. operates as the bank holding company for Mid Penn Bank, providing a range of commercial banking services throughout Pennsylvania and New Jersey. The company offers various deposit accounts, loan products, and financial services, including trust and investment management. Headquartered in Harrisburg, Pennsylvania, Mid Penn Bancorp is led by CEO Rory G. Ritrievi and employs 721 people.

Bottom Line

Raymond James's reaffirmation of its buy rating for Mid Penn Bancorp, along with a $38 price target, reflects continued confidence in the company. Investors keep a close watch on such analyst updates for insights into future performance. It's important to remember that these ratings are based on past data and don't necessarily indicate future results.