Mid Penn Bancorp, Inc. Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now

The yearly results for Mid Penn Bancorp, Inc. (NASDAQ:MPB) were released last week, making it a good time to revisit its performance. It looks like the results were a bit of a negative overall. While revenues of US$127m were in line with analyst predictions, statutory earnings were less than expected, missing estimates by 6.2% to hit US$2.71 per share. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on Mid Penn Bancorp after the latest results.

Check out our latest analysis for Mid Penn Bancorp

Taking into account the latest results, the current consensus from Mid Penn Bancorp's twin analysts is for revenues of US$165.6m in 2022, which would reflect a major 30% increase on its sales over the past 12 months. Per-share earnings are expected to leap 60% to US$2.94. Before this earnings report, the analysts had been forecasting revenues of US$159.0m and earnings per share (EPS) of US$2.88 in 2022. So there seems to have been a moderate uplift in sentiment following the latest results, given the upgrades to both revenue and earnings per share forecasts for next year.

Despite these upgrades,the analysts have not made any major changes to their price target of US$34.75, suggesting that the higher estimates are not likely to have a long term impact on what the stock is worth.

One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. The period to the end of 2022 brings more of the same, according to the analysts, with revenue forecast to display 30% growth on an annualised basis. That is in line with its 25% annual growth over the past five years. Compare this with the broader industry, which analyst estimates (in aggregate) suggest will see revenues grow 5.1% annually. So it's pretty clear that Mid Penn Bancorp is forecast to grow substantially faster than its industry.

The Bottom Line

The most important thing here is that the analysts upgraded their earnings per share estimates, suggesting that there has been a clear increase in optimism towards Mid Penn Bancorp following these results. Happily, they also upgraded their revenue estimates, and are forecasting revenues to grow faster than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.

Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. We have analyst estimates for Mid Penn Bancorp going out as far as 2023, and you can see them free on our platform here.

You should always think about risks though. Case in point, we've spotted 2 warning signs for Mid Penn Bancorp you should be aware of, and 1 of them can't be ignored.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.