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Mid Penn Bancorp

Nasdaq:MPB
Snowflake Description

Flawless balance sheet with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MPB
Nasdaq
$203M
Market Cap
  1. Home
  2. US
  3. Banks
Company description

Mid Penn Bancorp, Inc. operates as the bank holding company for Mid Penn Bank that provides commercial banking services to individuals, partnerships, non-profit organizations, and corporations. The last earnings update was 18 days ago. More info.


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MPB Share Price and Events
7 Day Returns
-4.7%
NasdaqGM:MPB
-0.5%
US Banks
-1.4%
US Market
1 Year Returns
-30%
NasdaqGM:MPB
-9.6%
US Banks
1.6%
US Market
MPB Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Mid Penn Bancorp (MPB) -4.7% -0.7% 2% -30% 48.4% 53.5%
US Banks -0.5% -4% -2.7% -9.6% 36.5% 44.7%
US Market -1.4% -3.9% 0.1% 1.6% 33.2% 38.2%
1 Year Return vs Industry and Market
  • MPB underperformed the Banks industry which returned -9.6% over the past year.
  • MPB underperformed the Market in United States of America which returned 1.6% over the past year.
Price Volatility
MPB
Industry
5yr Volatility vs Market

MPB Value

 Is Mid Penn Bancorp undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Mid Penn Bancorp to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Mid Penn Bancorp.

NasdaqGM:MPB Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $17.86 * 9.7%
$1.74
Book Value of Equity per Share Median Book Value from the past 5 years. $17.86
Discount Rate (Cost of Equity) See below 8.4%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGM:MPB
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.62
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.62 (1 + (1- 21%) (62.24%))
0.95
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.95
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.95 * 5.96%)
8.39%

Discounted Cash Flow Calculation for NasdaqGM:MPB using Excess Returns Model Model

The calculations below outline how an intrinsic value for Mid Penn Bancorp is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqGM:MPB Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (9.7% – 8.39%) * $17.86)
$0.24
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.24 / (8.39% - 2.73%)
$4.24
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $17.86 + $4.24
$22.1
NasdaqGM:MPB Discount to Share Price
Calculation Result
Value per share (USD) From above. $22.10
Current discount Discount to share price of $23.94
= -1 x ($23.94 - $22.10) / $22.10
-8.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Mid Penn Bancorp is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Mid Penn Bancorp's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Mid Penn Bancorp's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGM:MPB PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $1.76
NasdaqGM:MPB Share Price ** NasdaqGM (2019-05-24) in USD $23.94
United States of America Banks Industry PE Ratio Median Figure of 597 Publicly-Listed Banks Companies 12.76x
United States of America Market PE Ratio Median Figure of 3,086 Publicly-Listed Companies 17.45x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Mid Penn Bancorp.

NasdaqGM:MPB PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGM:MPB Share Price ÷ EPS (both in USD)

= 23.94 ÷ 1.76

13.57x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Mid Penn Bancorp is overvalued based on earnings compared to the US Banks industry average.
  • Mid Penn Bancorp is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Mid Penn Bancorp's expected growth come at a high price?
Raw Data
NasdaqGM:MPB PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.57x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
20.1%per year
United States of America Banks Industry PEG Ratio Median Figure of 270 Publicly-Listed Banks Companies 1.36x
United States of America Market PEG Ratio Median Figure of 2,121 Publicly-Listed Companies 1.51x

*Line of best fit is calculated by linear regression .

NasdaqGM:MPB PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 13.57x ÷ 20.1%

0.67x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Mid Penn Bancorp is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Mid Penn Bancorp's assets?
Raw Data
NasdaqGM:MPB PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $26.88
NasdaqGM:MPB Share Price * NasdaqGM (2019-05-24) in USD $23.94
United States of America Banks Industry PB Ratio Median Figure of 602 Publicly-Listed Banks Companies 1.2x
United States of America Market PB Ratio Median Figure of 5,208 Publicly-Listed Companies 1.8x
NasdaqGM:MPB PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGM:MPB Share Price ÷ Book Value per Share (both in USD)

= 23.94 ÷ 26.88

0.89x

* Primary Listing of Mid Penn Bancorp.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Mid Penn Bancorp is good value based on assets compared to the US Banks industry average.
X
Value checks
We assess Mid Penn Bancorp's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Mid Penn Bancorp has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

MPB Future Performance

 How is Mid Penn Bancorp expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
20.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Mid Penn Bancorp expected to grow at an attractive rate?
  • Mid Penn Bancorp's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Mid Penn Bancorp's earnings growth is expected to exceed the United States of America market average.
  • Mid Penn Bancorp's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGM:MPB Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGM:MPB Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 20.1%
NasdaqGM:MPB Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 14.3%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 4%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGM:MPB Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGM:MPB Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 90 20 1
2019-12-31 83 19 1
NasdaqGM:MPB Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 69 11 14
2018-12-31 62 11 10
2018-09-30 54 9 6
2018-06-30 47 12 7
2018-03-31 45 12 6
2017-12-31 43 12 7
2017-09-30 43 12 9
2017-06-30 41 8 8
2017-03-31 40 18 8
2016-12-31 39 22 8
2016-09-30 37 22 7
2016-06-30 37 27 7

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Mid Penn Bancorp's earnings are expected to grow significantly at over 20% yearly.
  • Mid Penn Bancorp's revenue is expected to grow by 14.3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGM:MPB Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Mid Penn Bancorp Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:MPB Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 2.35 2.35 2.35 1.00
2019-12-31 2.20 2.20 2.20 1.00
NasdaqGM:MPB Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 1.76
2018-12-31 1.48
2018-09-30 1.07
2018-06-30 1.27
2018-03-31 1.31
2017-12-31 1.67
2017-09-30 2.05
2017-06-30 1.96
2017-03-31 1.89
2016-12-31 1.85
2016-09-30 1.69
2016-06-30 1.66

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Mid Penn Bancorp will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Mid Penn Bancorp's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Mid Penn Bancorp has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

MPB Past Performance

  How has Mid Penn Bancorp performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Mid Penn Bancorp's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Mid Penn Bancorp's year on year earnings growth rate has been positive over the past 5 years.
  • Mid Penn Bancorp's 1-year earnings growth exceeds its 5-year average (122.4% vs 13%)
  • Mid Penn Bancorp's earnings growth has exceeded the US Banks industry average in the past year (122.4% vs 39.5%).
Earnings and Revenue History
Mid Penn Bancorp's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Mid Penn Bancorp Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:MPB Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 68.97 13.57 39.74
2018-12-31 62.14 10.49 35.87
2018-09-30 53.57 6.41 30.23
2018-06-30 47.17 6.53 26.76
2018-03-31 44.88 6.10 26.36
2017-12-31 42.97 7.09 24.84
2017-09-30 42.69 8.66 24.03
2017-06-30 41.21 8.32 23.50
2017-03-31 40.08 7.99 22.99
2016-12-31 38.92 7.80 22.98
2016-09-30 37.40 7.14 22.05
2016-06-30 36.81 7.04 21.56
2016-03-31 36.55 6.97 21.38
2015-12-31 34.93 6.04 20.63
2015-09-30 33.05 5.43 19.41
2015-06-30 30.93 5.14 18.10
2015-03-31 28.90 4.80 16.96
2014-12-31 27.87 5.35 15.65
2014-09-30 27.53 5.86 15.65
2014-06-30 27.32 5.76 15.76
2014-03-31 26.34 5.42 15.60
2013-12-31 25.53 4.62 15.88
2013-09-30 25.13 4.37 15.78
2013-06-30 25.13 4.10 15.76
2013-03-31 25.59 4.06 15.58
2012-12-31 25.89 4.44 15.21
2012-09-30 26.07 4.60 15.06
2012-06-30 25.37 4.46 14.64

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Mid Penn Bancorp has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Mid Penn Bancorp used its assets less efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if Mid Penn Bancorp improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Mid Penn Bancorp's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Mid Penn Bancorp has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

MPB Health

 How is Mid Penn Bancorp's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Mid Penn Bancorp's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Mid Penn Bancorp Company Filings, last reported 1 month ago.

NasdaqGM:MPB Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 227.44 126.09 86.97
2018-12-31 223.21 118.21 40.07
2018-09-30 221.84 46.92 62.09
2018-06-30 141.78 29.58 39.41
2018-03-31 139.12 29.63 59.18
2017-12-31 75.70 64.30 23.51
2017-09-30 77.39 40.83 56.18
2017-06-30 75.64 42.35 29.18
2017-03-31 72.33 20.94 33.11
2016-12-31 70.47 21.00 45.97
2016-09-30 75.09 21.05 43.77
2016-06-30 74.47 37.60 41.95
2016-03-31 71.22 47.66 15.65
2015-12-31 70.07 79.32 17.60
2015-09-30 75.52 57.08 24.55
2015-06-30 73.39 66.40 17.05
2015-03-31 73.08 57.10 19.86
2014-12-31 59.13 53.54 15.65
2014-09-30 58.81 54.86 21.02
2014-06-30 57.56 40.67 17.75
2014-03-31 55.25 51.64 19.35
2013-12-31 52.92 46.98 16.14
2013-09-30 52.55 17.44 21.08
2013-06-30 51.09 39.25 23.83
2013-03-31 52.52 21.78 58.29
2012-12-31 52.22 22.51 38.48
2012-09-30 56.96 22.56 47.27
2012-06-30 55.73 26.05 35.06
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Mid Penn Bancorp has an acceptable proportion of non-loan assets held.
  • Mid Penn Bancorp's liabilities are made up of primarily low risk sources of funding.
  • Loans at Mid Penn Bancorp are broadly funded by customer deposits.
  • Mid Penn Bancorp's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Mid Penn Bancorp has a sufficient allowance for bad loans.
  • Mid Penn Bancorp has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Mid Penn Bancorp's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Mid Penn Bancorp has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

MPB Dividends

 What is Mid Penn Bancorp's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.43%
Current annual income from Mid Penn Bancorp dividends. Estimated to be 2.59% next year.
If you bought $2,000 of Mid Penn Bancorp shares you are expected to receive $69 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Mid Penn Bancorp's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.47%).
  • Mid Penn Bancorp's dividend is below the markets top 25% of dividend payers in United States of America (3.75%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGM:MPB Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 477 Stocks 2.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2007 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGM:MPB Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.64 1.00
2019-12-31 0.60 1.00
NasdaqGM:MPB Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-08 0.820 3.287
2019-04-25 0.820 3.313
2019-01-28 0.700 2.914
2018-11-08 0.700 2.851
2018-10-25 0.700 2.675
2018-08-07 0.700 2.401
2018-07-27 0.700 2.159
2018-05-09 0.700 2.018
2018-04-26 0.700 1.939
2017-11-22 0.700 2.115
2017-11-08 0.620 2.073
2017-10-27 0.620 2.112
2017-08-11 0.620 2.157
2017-07-27 0.620 2.295
2017-04-27 0.620 2.316
2016-12-21 0.620 2.360
2016-10-27 0.580 2.736
2016-07-27 0.580 3.163
2016-05-12 0.580 3.645
2016-04-27 0.580 3.656
2016-01-27 0.580 3.842
2015-11-17 0.480 2.957
2015-10-28 0.480 2.995
2015-08-14 0.480 2.931
2015-07-22 0.480 2.957
2015-04-30 0.400 2.542
2015-03-20 0.500 3.192
2014-12-18 0.400 2.544
2014-11-14 0.400 2.577
2014-10-24 0.400 2.589
2014-07-23 0.400 2.534
2014-04-23 0.400 2.628
2014-01-22 0.200 1.397
2013-10-23 0.200 1.562
2013-07-24 0.200 1.708
2013-04-29 0.200 1.845
2012-12-13 0.200 1.825
2012-10-24 0.200 1.999
2012-07-25 0.200 1.964
2012-04-25 0.200 1.999
2012-01-25 0.200 2.066
2011-10-27 0.200 2.620
2011-07-27 0.200 2.476
2011-04-27 0.200 2.303
2011-01-27 0.200 2.194
2010-11-09 0.000 0.000
2010-10-21 0.000 0.000
2010-08-09 0.000 0.000
2010-07-22 0.000 0.000
2010-05-11 0.000 0.000
2010-04-23 0.000 0.000
2010-03-17 0.000 0.000
2010-02-03 0.000 0.000
2009-07-22 0.640 5.076

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Mid Penn Bancorp's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.8x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Mid Penn Bancorp's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Mid Penn Bancorp afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Mid Penn Bancorp has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

MPB Management

 What is the CEO of Mid Penn Bancorp's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Rory Ritrievi
COMPENSATION $665,144
AGE 54
TENURE AS CEO 10.3 years
CEO Bio

Mr. Rory G. Ritrievi has been the Chief Executive Officer and President of Mid Penn BanCorp Inc. and Mid Penn Bank (Millersburg, PA) since February 25, 2009. Mr. Ritrievi served as Executive Vice President and Chief Lending Officer of Metro Bancorp, Inc. (alternate name, Commerce Bank of Pennsylvania Commerce BanCorp. Inc.) and its subsidiary, Metro Bank from 1999 to February 2009 and also served as Senior Loan Officer of Commerce Bank. He began his career in banking in 1986 at CoreStates Hamilton Bank. He served as Market President of Metro Bank, Inc. (alternate name, Commerce Bank/Harrisburg, National Association) from July 10, 2007 to February 23, 2009. He joined Commerce Bank in November 1999. He served as Executive Vice President/Regional Director of Commercial Lending of Keystone Financial, Inc. He had been a Member of Advisory Council at Federal Reserve Bank of Philadelphia, Inc. since October 28, 2014. He has more than 23 years of financial services experience. He has been a Director of Mid Penn BanCorp Inc. and Mid Penn Bank (Millersburg, PA) since February 25, 2009. He serves as a Director of Pennsylvania Association of Community Bankers. He is a member of the HACC Foundation Board of Directors. He holds a Juris Doctor from Widener University School of Law and a BS Degree in Economics from the University of Pittsburgh.

CEO Compensation
  • Rory's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Rory's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Mid Penn Bancorp management team in years:

6.8
Average Tenure
53
Average Age
  • The average tenure for the Mid Penn Bancorp management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Rory Ritrievi

TITLE
President
COMPENSATION
$665K
AGE
54
TENURE
10.3 yrs

Mike Peduzzi

TITLE
Senior EVP & Chief Financial Officer
COMPENSATION
$363K
AGE
52
TENURE
3.2 yrs

Scott Micklewright

TITLE
Senior EVP & Chief Revenue Officer of Mid Penn Bank
COMPENSATION
$334K
AGE
35
TENURE
8.9 yrs

Justin Webb

TITLE
Senior EVP & COO of Mid Penn Bank
COMPENSATION
$340K
AGE
35
TENURE
6.8 yrs

Joseph Paese

TITLE
Executive VP and Director of Trust & Wealth Management - Mid Penn Bank
COMPENSATION
$254K
AGE
74
TENURE
3.1 yrs

Cindy Wetzel

TITLE
Secretary
AGE
56

Brittany Zolko

TITLE
Director of Corporate Communications

Kathy Bordner

TITLE
VP & Marketing Director of Mid Penn Bank
AGE
51

Michael Lehmer

TITLE
Vice President and Senior Trust Officer
AGE
60

Steven Shuey

TITLE
Vice President of Mid Penn Bank and Loan Review Officer of Mid Penn Bank
Board of Directors Tenure

Average tenure and age of the Mid Penn Bancorp board of directors in years:

8.3
Average Tenure
58.5
Average Age
  • The tenure for the Mid Penn Bancorp board of directors is about average.
Board of Directors

Bob Grubic

TITLE
Chairman of the Board
COMPENSATION
$99K
AGE
66
TENURE
7 yrs

Rory Ritrievi

TITLE
President
COMPENSATION
$665K
AGE
54
TENURE
10.3 yrs

Bill Specht

TITLE
Vice Chairman of the Board
COMPENSATION
$76K
AGE
56
TENURE
7 yrs

Theodore Mowery

TITLE
Director
COMPENSATION
$57K
AGE
59
TENURE
15.4 yrs

Robert Abel

TITLE
Director
COMPENSATION
$55K
AGE
59
TENURE
8.3 yrs

John Noone

TITLE
Director
COMPENSATION
$57K
AGE
58
TENURE
6.8 yrs

Gregory Kerwin

TITLE
Director
COMPENSATION
$55K
AGE
67
TENURE
20.3 yrs

Matthew DeSoto

TITLE
Director
COMPENSATION
$58K
AGE
41
TENURE
11.3 yrs

Robert Klinger

TITLE
Director
COMPENSATION
$52K
AGE
60
TENURE
6.8 yrs

Steven Boyer

TITLE
Director
COMPENSATION
$54K
AGE
55
TENURE
8.3 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Mid Penn Bancorp insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
01. Apr 19 Buy Robert Grubic Individual 29. Mar 19 29. Mar 19 204 $24.50 $4,998
01. Apr 19 Buy Robert Moisey Individual 29. Mar 19 29. Mar 19 184 $24.50 $4,508
01. Apr 19 Buy Matthew DeSoto Individual 29. Mar 19 29. Mar 19 255 $24.50 $6,248
01. Apr 19 Buy Robert Abel Individual 29. Mar 19 29. Mar 19 21 $24.50 $515
01. Apr 19 Buy Gregory Kerwin Individual 29. Mar 19 29. Mar 19 40 $24.50 $980
01. Apr 19 Buy Noble Quandel Individual 29. Mar 19 29. Mar 19 123 $24.50 $3,014
01. Apr 19 Buy Theodore Mowery Individual 29. Mar 19 29. Mar 19 82 $24.50 $2,009
01. Apr 19 Buy Robert Klinger Individual 29. Mar 19 29. Mar 19 122 $24.50 $2,989
01. Apr 19 Buy Steven Boyer Individual 29. Mar 19 29. Mar 19 204 $24.50 $4,998
01. Apr 19 Buy Joel Frank Individual 29. Mar 19 29. Mar 19 102 $24.50 $2,499
01. Apr 19 Buy Alan Novak Individual 29. Mar 19 29. Mar 19 24 $24.50 $588
25. Mar 19 Buy Matthew DeSoto Individual 22. Mar 19 22. Mar 19 2,065 $24.20 $49,963
01. Mar 19 Buy Theodore Mowery Individual 28. Feb 19 28. Feb 19 1,000 $25.31 $25,307
14. Feb 19 Buy Michael Peduzzi Individual 13. Feb 19 13. Feb 19 200 $23.19 $4,637
02. Jan 19 Buy Robert Grubic Individual 31. Dec 18 31. Dec 18 217 $23.02 $4,995
02. Jan 19 Buy Matthew DeSoto Individual 31. Dec 18 31. Dec 18 271 $23.02 $6,238
02. Jan 19 Buy Robert Abel Individual 31. Dec 18 31. Dec 18 21 $23.02 $483
02. Jan 19 Buy Joel Frank Individual 31. Dec 18 31. Dec 18 108 $23.02 $2,486
02. Jan 19 Buy Noble Quandel Individual 31. Dec 18 31. Dec 18 130 $23.02 $2,993
02. Jan 19 Buy Gregory Kerwin Individual 31. Dec 18 31. Dec 18 44 $23.02 $1,013
02. Jan 19 Buy Robert Moisey Individual 31. Dec 18 31. Dec 18 196 $23.02 $4,512
02. Jan 19 Buy Theodore Mowery Individual 31. Dec 18 31. Dec 18 86 $23.02 $1,980
02. Jan 19 Buy Steven Boyer Individual 31. Dec 18 31. Dec 18 217 $23.02 $4,995
02. Jan 19 Buy Robert Klinger Individual 31. Dec 18 31. Dec 18 87 $23.02 $2,003
02. Jan 19 Buy Alan Novak Individual 31. Dec 18 31. Dec 18 26 $23.02 $599
21. Dec 18 Buy Robert Klinger Individual 21. Dec 18 21. Dec 18 500 $22.31 $11,155
07. Dec 18 Buy John Noone Individual 06. Dec 18 07. Dec 18 500 $24.90 $12,265
21. Nov 18 Buy Steven Boyer Individual 20. Nov 18 20. Nov 18 1,200 $26.82 $32,184
05. Nov 18 Buy Matthew DeSoto Individual 02. Nov 18 02. Nov 18 521 $26.09 $13,595
08. Nov 18 Buy Robert Moisey Individual 07. Nov 18 07. Nov 18 550 $26.62 $14,642
02. Nov 18 Buy Robert Klinger Individual 31. Oct 18 01. Nov 18 500 $26.65 $13,325
02. Nov 18 Buy Robert Abel Individual 31. Oct 18 31. Oct 18 1,000 $26.82 $26,820
02. Nov 18 Buy William Specht Individual 31. Oct 18 31. Oct 18 1,200 $26.85 $32,056
02. Nov 18 Buy Matthew DeSoto Individual 31. Oct 18 01. Nov 18 717 $26.58 $19,000
01. Nov 18 Buy Robert Moisey Individual 30. Oct 18 30. Oct 18 500 $24.49 $12,247
01. Nov 18 Buy Robert Moisey Individual 30. Oct 18 30. Oct 18 8,500 $26.10 $215,152
31. Oct 18 Buy Justin Webb Individual 30. Oct 18 30. Oct 18 900 $26.35 $23,719
31. Oct 18 Buy John Noone Individual 30. Oct 18 30. Oct 18 1,000 $25.00 $24,950
31. Oct 18 Buy Matthew DeSoto Individual 30. Oct 18 30. Oct 18 700 $24.93 $17,439
31. Oct 18 Buy Theodore Mowery Individual 30. Oct 18 30. Oct 18 730 $26.65 $19,452
01. Oct 18 Buy Robert Moisey Individual 28. Sep 18 28. Sep 18 154 $29.15 $4,489
01. Oct 18 Buy Noble Quandel Individual 28. Sep 18 28. Sep 18 103 $29.15 $3,002
01. Oct 18 Buy Matthew DeSoto Individual 28. Sep 18 28. Sep 18 215 $29.15 $6,267
01. Oct 18 Buy John Noone Individual 28. Sep 18 28. Sep 18 172 $29.15 $5,014
01. Oct 18 Buy Theodore Mowery Individual 28. Sep 18 28. Sep 18 69 $29.15 $2,011
01. Oct 18 Buy Robert Klinger Individual 28. Sep 18 28. Sep 18 69 $29.15 $2,011
01. Oct 18 Buy Gregory Kerwin Individual 28. Sep 18 28. Sep 18 34 $29.15 $991
01. Oct 18 Buy Robert Grubic Individual 28. Sep 18 28. Sep 18 172 $29.15 $5,014
01. Oct 18 Buy Steven Boyer Individual 28. Sep 18 28. Sep 18 69 $29.15 $2,011
01. Oct 18 Buy Robert Abel Individual 28. Sep 18 28. Sep 18 17 $29.15 $496
24. Aug 18 Buy William Specht Individual 22. Aug 18 24. Aug 18 1,300 $31.50 $40,950
02. Jul 18 Buy John Noone Individual 29. Jun 18 29. Jun 18 143 $34.90 $4,991
02. Jul 18 Buy Matthew DeSoto Individual 29. Jun 18 29. Jun 18 143 $34.90 $4,991
02. Jul 18 Buy Robert Moisey Individual 29. Jun 18 29. Jun 18 129 $34.90 $4,502
02. Jul 18 Buy Robert Grubic Individual 29. Jun 18 29. Jun 18 143 $34.90 $4,991
02. Jul 18 Buy Steven Boyer Individual 29. Jun 18 29. Jun 18 57 $34.90 $1,989
02. Jul 18 Buy Noble Quandel Individual 29. Jun 18 29. Jun 18 86 $34.90 $3,001
02. Jul 18 Buy Gregory Kerwin Individual 29. Jun 18 29. Jun 18 29 $34.90 $1,012
02. Jul 18 Buy Robert Klinger Individual 29. Jun 18 29. Jun 18 79 $34.90 $2,757
02. Jul 18 Buy Theodore Mowery Individual 29. Jun 18 29. Jun 18 57 $34.90 $1,989
02. Jul 18 Buy Robert Abel Individual 29. Jun 18 29. Jun 18 15 $34.90 $524
X
Management checks
We assess Mid Penn Bancorp's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Mid Penn Bancorp has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

MPB News

Simply Wall St News

What Kind Of Shareholder Appears On The Mid Penn Bancorp, Inc.'s (NASDAQ:MPB) Shareholder Register?

A look at the shareholders of Mid Penn Bancorp, Inc. … Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … With a market capitalization of US$209m, Mid Penn Bancorp is a small cap stock, so it might not be well known by many institutional investors.

Simply Wall St -

What You Should Know About Mid Penn Bancorp, Inc.’s (NASDAQ:MPB) Liquidity

As a small-cap finance stock with a market capitalisation of US$207m, the risk and profitability of Mid Penn Bancorp, Inc. … Since its financial standing can unexpectedly decline in the case of an adverse macro event such as political instability, it is important to understand how prudent the bank is at managing its risk levels. … High liquidity and low leverage could position Mid Penn Bancorp favourably at the face of macro headwinds.

Simply Wall St -

Should You Buy Mid Penn Bancorp, Inc. (NASDAQ:MPB) For Its Dividend?

A sizeable part of portfolio returns can be produced by dividend stocks due to their contribution to compounding returns in the long run. … Historically, Mid Penn Bancorp, Inc. … Let's take a look at Mid Penn Bancorp in more detail.

Simply Wall St -

Only 3 Days Left Until Mid Penn Bancorp, Inc. (NASDAQ:MPB) Trades Ex-Dividend

(NASDAQ:MPB): The dividend payment of US$0.25 per share will be distributed to shareholders on 25 February 2019, and the stock will begin trading ex-dividend at an earlier date, 05 February 2019. … Below, I'm going to look at the latest data and analyze the stock and its dividend property in further detail. … When researching a dividend stock, I always follow the following screening criteria:?

Simply Wall St -

Who Has Been Buying Mid Penn Bancorp, Inc. (NASDAQ:MPB) Shares?

It is perfectly legal for company insiders, including board members, to buy and sell stock in a company. … For example, a Columbia University study found that 'insiders are more likely to engage in open market purchases of their own company’s stock when the firm is about to reveal new agreements with customers and suppliers'. … It's very possible they regret the purchase, but it's more likely they are bullish about the company

Simply Wall St -

What You Should Know About Mid Penn Bancorp Inc’s (NASDAQ:MPB) Risks

Risk associated with repayment is measured by bad debt which is written off as an expense, impacting Mid Penn Bancorp’s bottom line. … Looking through a risk-lens is a useful way to assess the attractiveness of Mid Penn Bancorp's a stock investment. … View our latest analysis for Mid Penn Bancorp

Simply Wall St -

Should You Be Tempted To Sell Mid Penn Bancorp Inc (NASDAQ:MPB) Because Of Its P/E Ratio?

To keep it practical, we'll show how Mid Penn Bancorp Inc's (NASDAQ:MPB) P/E ratio could help you assess the value on offer. … Mid Penn Bancorp has a P/E ratio of 24.67, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Three Understated Metrics For Mid Penn Bancorp Inc (NASDAQ:MPB) You Should Know

As a small-cap finance stock with a market capitalisation of US$208m, the risk and profitability of Mid Penn Bancorp Inc (NASDAQ:MPB) are largely tied to the underlying economic growth of the region it operates in US. … These reforms target banking regulations and intends to enhance financial institutions’ ability to absorb shocks resulting from economic stress which could expose banks like Mid Penn Bancorp to vulnerabilities. … Low levels of leverage coupled with sufficient liquidity may place Mid Penn Bancorp in a safe position in the face of adverse headwinds.

Simply Wall St -

Risk Factors To Consider Before Investing In Mid Penn Bancorp Inc (NASDAQ:MPB)

As a small-cap bank with a market capitalisation of US$262.82m, Mid Penn Bancorp Inc’s (NASDAQ:MPB) profit and value are directly affected by economic growth. … Risk associated with repayment is measured by bad debt which is written off as an expense, impacting Mid Penn Bancorp’s bottom line. … See our latest analysis for Mid Penn Bancorp

Simply Wall St -

Interested In Mid Penn Bancorp Inc (NASDAQ:MPB)’s Upcoming US$0.15 Dividend? You Have 2 Days Left

On the 27 August 2018, Mid Penn Bancorp Inc (NASDAQ:MPB) will be paying shareholders an upcoming dividend amount of US$0.15 per share. … 5 questions to ask before buying a dividend stock? … Has it paid dividend every year without dramatically reducing payout in the past?

Simply Wall St -

MPB Company Info

Description

Mid Penn Bancorp, Inc. operates as the bank holding company for Mid Penn Bank that provides commercial banking services to individuals, partnerships, non-profit organizations, and corporations. The company offers various time and demand deposit products, including checking accounts, savings accounts, clubs, money market deposit accounts, certificates of deposit, and IRAs. It also provides a range of loan products comprising 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. In addition, the company offers online banking, telephone banking, cash management, and automated teller services, as well as safe deposit boxes; and trust and retail investment services. It operates 38 full service retail banking locations in Berks, Bucks, Chester, Cumberland, Dauphin, Fayette, Lancaster, Luzerne, Montgomery, Northumberland, Schuylkill, and Westmoreland counties, Pennsylvania. The company was founded in 1868 and is headquartered in Millersburg, Pennsylvania.

Details
Name: Mid Penn Bancorp, Inc.
MPB
Exchange: NasdaqGM
Founded: 1868
$202,590,598
8,462,431
Website: http://www.midpennbank.com
Address: Mid Penn Bancorp, Inc.
349 Union Street,
Millersburg,
Pennsylvania, 17061,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGM MPB Common Stock Nasdaq Global Market US USD 08. Oct 1990
Number of employees
Current staff
Staff numbers
389
Mid Penn Bancorp employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/26 23:40
End of day share price update: 2019/05/24 00:00
Last estimates confirmation: 2019/04/29
Last earnings filing: 2019/05/08
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.