Mid Penn Bancorp, Inc. (MPB) to Issue $0.15 Quarterly Dividend

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Mid Penn Bancorp, Inc. (NASDAQ:MPB) announced a quarterly dividend on Friday, October 26th, Wall Street Journal reports. Stockholders of record on Wednesday, November 7th will be paid a dividend of 0.15 per share by the financial services provider on Monday, November 26th. This represents a $0.60 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Tuesday, November 6th.

Mid Penn Bancorp has raised 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.

MPB opened at $26.30 on Friday. The firm has a market cap of $222.42 million, a price-to-earnings ratio of 13.63 and a beta of 0.57. Mid Penn Bancorp has a 52 week low of $24.17 and a 52 week high of $37.90. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.21.

MPB has been the topic of several recent research reports. ValuEngine cut Mid Penn Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, October 17th. TheStreet cut Mid Penn Bancorp from a “b” rating to a “c” rating in a research report on Monday, October 29th.

In other Mid Penn Bancorp news, Director William A. Specht III acquired 1,300 shares of the stock in a transaction dated Friday, August 24th. The stock was purchased at an average price of $31.50 per share, with a total value of $40,950.00. Following the transaction, the director now directly owns 4,205 shares of the company’s stock, valued at $132,457.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders bought a total of 4,495 shares of company stock valued at $128,268 in the last three months. Insiders own 22.50% of the company’s stock.

An institutional investor recently bought a new position in Mid Penn Bancorp stock. Bank of New York Mellon Corp purchased a new position in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,233 shares of the financial services provider’s stock, valued at approximately $497,000. Bank of New York Mellon Corp owned 0.17% of Mid Penn Bancorp as of its most recent filing with the Securities and Exchange Commission. 8.92% of the stock is currently owned by hedge funds and other institutional investors.

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Mid Penn Bancorp Company Profile

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.

See Also: Why is the ex-dividend date different from the record date?

Dividend History for Mid Penn Bancorp (NASDAQ:MPB)

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