Piper Sandler keeps Overweight rating on Mid Penn Bancorp with $40 target
Piper Sandler reiterated its Overweight rating on Mid Penn Bancorp with a $40 target, citing 10% deposit growth and a valuation discount to peers.
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what happened
Piper Sandler analysts reiterated their Overweight rating on Mid Penn Bancorp shares and set a price target of $40. According to TradingView, citing Benzinga data, that target implies a 16.3% upside from the October 26 close of $34.41.
The analyst note highlights strong deposit growth of about 10% on an annualized basis over the last quarter, which the firm sees as a sign of solid customer confidence. The shares also trade at 9.2x 2027 estimates, below the 10.5x multiple of its peers.
why it matters
A rating reiteration from a single brokerage is usually routine and rarely moves a stock on its own. For investors in regional banks, deposit trends and the valuation gap to peers, which the analyst highlights, matter more. This is one firm's view, not investment advice.
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instruments
sources
- Piper Sandler reiterates Overweight rating on Mid Penn Bancorp, $40 price target — TradingView, 27 October 2026 at 16:18 UTC
- Piper Sandler reiterates Overweight rating on 1st Source, $105 price target — TradingView, 27 October 2026 at 16:24 UTC
- Mid Penn Bancorp Price Target Cut to $40.00/Share From $42.00 by Piper Sandler — Dow Jones Newswires, 27 October 2026 at 16:28 UTC
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