Mid Penn Bancorp, Inc. (MPB) Plans Quarterly Dividend of $0.15

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Mid Penn Bancorp, Inc. (NASDAQ:MPB) declared a quarterly dividend on Friday, October 26th, Wall Street Journal reports. Shareholders of record on Wednesday, November 7th will be given a dividend of 0.15 per share by the financial services provider on Monday, November 26th. This represents a $0.60 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Tuesday, November 6th.

Mid Penn Bancorp has increased its dividend payment by an average of 14.1% per year over the last three years and has raised its dividend annually for the last 4 consecutive years.

Shares of Mid Penn Bancorp stock traded up $0.17 on Friday, reaching $26.45. 5,239 shares of the company were exchanged, compared to its average volume of 12,093. Mid Penn Bancorp has a one year low of $24.17 and a one year high of $37.90. The stock has a market cap of $226.54 million, a P/E ratio of 13.89 and a beta of 0.57. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.21.

A number of brokerages have recently issued reports on MPB. TheStreet cut Mid Penn Bancorp from a “b” rating to a “c” rating in a research note on Monday, October 29th. ValuEngine cut Mid Penn Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, October 17th.

In other news, Director William A. Specht III acquired 1,300 shares of the firm’s stock in a transaction on Friday, August 24th. The shares were purchased at an average cost of $31.50 per share, with a total value of $40,950.00. Following the acquisition, the director now directly owns 4,205 shares in the company, valued at approximately $132,457.50. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders purchased 4,495 shares of company stock worth $128,268. 22.50% of the stock is owned by company insiders.

A hedge fund recently bought a new stake in Mid Penn Bancorp stock. Bank of New York Mellon Corp bought a new position in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 14,233 shares of the financial services provider’s stock, valued at approximately $497,000. Bank of New York Mellon Corp owned approximately 0.17% of Mid Penn Bancorp as of its most recent filing with the SEC. 8.68% of the stock is currently owned by institutional investors and hedge funds.

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About Mid Penn Bancorp

Mid Penn Bancorp, Inc operates as the holding company for Mid Penn Bank that provides commercial banking and trust services to individuals, partnerships, non-profit organizations, and corporations. It offers various time and demand deposit products, including checking accounts, savings accounts, clubs, money market deposit accounts, certificates of deposit, and IRAs.

Further Reading: How can investors find ex-dividend dates?

Dividend History for Mid Penn Bancorp (NASDAQ:MPB)

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