Raymond James upgrades Mid Penn Bancorp stock rating on growth outlook
Raymond James upgraded Mid Penn Bancorp (MPB) to Strong Buy, raising its price target to $42.00. The firm cited management's growth efforts and recent hires from TD Bank. MPB trades at 1.2x tangible book value and 10x 2027 earnings estimate, with a P/E ratio of 12.07 and a PEG ratio of 0.6. The stock has a 15.75% YTD return and 32.86% revenue growth over the last year, with a 2.63% dividend yield.

