Mid Penn Bancorp (MPB) got here out with quarterly earnings of $1.10 per share, beating the Zacks Consensus Estimate of $0.91 per share. This compares to earnings of $0.45 per share a 12 months in the past. These figures are adjusted for non-recurring objects.
This quarterly report represents an earnings shock of 20.88%. 1 / 4 in the past, it was anticipated that this firm would publish earnings of $0.87 per share when it really produced earnings of $1.06, delivering a shock of 21.84%.
Over the past 4 quarters, the corporate has surpassed consensus EPS estimates 4 occasions.
Mid Penn Bancorp, which belongs to the Zacks Banks – Northeast trade, posted revenues of $30.04 million for the quarter ended March 2021, surpassing the Zacks Consensus Estimate by 0.32%. This compares to year-ago revenues of $20.6 million. The corporate has topped consensus income estimates thrice over the past 4 quarters.
The sustainability of the inventory’s speedy worth motion based mostly on the recently-released numbers and future earnings expectations will largely depend upon administration’s commentary on the earnings name.
Mid Penn Bancorp shares have added about 13.2% because the starting of the 12 months versus the S&P 500’s acquire of 10.1%.
What’s Subsequent for Mid Penn Bancorp?
Whereas Mid Penn Bancorp has outperformed the market to date this 12 months, the query that involves buyers’ minds is: what’s subsequent for the inventory?
There aren’t any straightforward solutions to this key query, however one dependable measure that may assist buyers tackle that is the corporate’s earnings outlook. Not solely does this embody present consensus earnings expectations for the approaching quarter(s), but in addition how these expectations have modified these days.
Empirical analysis exhibits a robust correlation between near-term inventory actions and developments in earnings estimate revisions. Buyers can observe such revisions by themselves or depend on a tried-and-tested score software just like the Zacks Rank, which has a powerful observe file of harnessing the ability of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions pattern for Mid Penn Bancorp was favorable. Whereas the magnitude and course of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #1 (Sturdy Purchase) for the inventory. So, the shares are anticipated to outperform the market within the close to future. You possibly can see the whole listing of immediately’s Zacks #1 Rank (Sturdy Purchase) shares right here.
It will likely be attention-grabbing to see how estimates for the approaching quarters and present fiscal 12 months change within the days forward. The present consensus EPS estimate is $0.50 on $25.29 million in revenues for the approaching quarter and $3.28 on $107.01 million in revenues for the present fiscal 12 months.
Buyers ought to be conscious of the truth that the outlook for the trade can have a fabric impression on the efficiency of the inventory as nicely. By way of the Zacks Trade Rank, Banks – Northeast is at present within the prime 11% of the 250 plus Zacks industries. Our analysis exhibits that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
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Mid Penn Bancorp (MPB): Free Inventory Evaluation Report
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