Mid Penn Bancorp Q2 EPS beats estimates; dividend up 4.6%
MPB•Quarterly results and dividend
- U.S. regional bank's Q2 diluted EPS rose sharply, beating analyst expectations
- Net income surged year over year, reflecting recent acquisitions and margin expansion
- Company raised quarterly dividend by 4.55% and repurchased 76,000 shares
| Metric | Beat/Miss | Actual | Consensus Estimate |
| Q2 Net Income | $21.70 mln | ||
| Q2 Net Interest Income | $65.30 mln | ||
| Q2 Dividend | $0.23 | ||
| Q2 Net Interest Margin | 4.06% |
Outlook, drivers and analyst coverage
-
Company did not provide specific guidance or forecasts for the current or future periods
-
Acquisitions - Company said year-over-year net income increase reflected William Penn and 1st Colonial acquisitions
-
Net interest margin - Higher net interest margin driven by increased loan and investment yields and lower funding costs
-
Efficiency improvement - Improved efficiency ratio due to higher net interest income and disciplined expense management after acquisitions
Related News
Insurer Globe Life's second-quarter profit rises on strong underwriting income
GL•
BRIEF-Nuveen New York Quality Municipal Income Fund - Registering Offering Of Up To 17 Million Shares, Rights, And/Or Preferred Shares - SEC Filing
NAN•
