Insider Buying: Mid Penn Bancorp, Inc. (NASDAQ:MPB) CEO Purchases 3,050 Shares of Stock

Mid Penn Bancorp, Inc. (NASDAQ:MPB) CEO Rory G. Ritrievi acquired 3,050 shares of Mid Penn Bancorp stock in a transaction dated Monday, January 27th. The shares were purchased at an average cost of $30.05 per share, with a total value of $91,652.50. Following the completion of the transaction, the chief executive officer now directly owns 7,385 shares of the company’s stock, valued at $221,919.25. This trade represents a 70.36 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Mid Penn Bancorp Stock Performance

Shares of NASDAQ MPB opened at $30.86 on Friday. The stock has a 50 day moving average price of $30.04 and a 200 day moving average price of $29.56. Mid Penn Bancorp, Inc. has a 52 week low of $19.20 and a 52 week high of $33.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.94 and a current ratio of 0.95. The stock has a market capitalization of $512.89 million, a PE ratio of 10.64 and a beta of 0.57.

Mid Penn Bancorp (NASDAQ:MPB) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 EPS for the quarter, meeting the consensus estimate of $0.71. Mid Penn Bancorp had a return on equity of 8.43% and a net margin of 15.99%. Analysts predict that Mid Penn Bancorp, Inc. will post 3 earnings per share for the current fiscal year.

Mid Penn Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, February 7th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $0.80 annualized dividend and a yield of 2.59%. Mid Penn Bancorp’s dividend payout ratio is 27.59%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MPB shares. StockNews.com cut Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, October 14th. Piper Sandler upped their price objective on Mid Penn Bancorp from $31.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Finally, Keefe, Bruyette & Woods upped their price objective on Mid Penn Bancorp from $34.00 to $37.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th.

Institutional Trading of Mid Penn Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of MPB. McClarren Financial Advisors Inc. raised its stake in Mid Penn Bancorp by 5,438.1% in the third quarter. McClarren Financial Advisors Inc. now owns 1,163 shares of the financial services provider’s stock valued at $34,000 after buying an additional 1,142 shares during the period. Stonebridge Financial Group LLC bought a new stake in Mid Penn Bancorp in the fourth quarter valued at approximately $45,000. SG Americas Securities LLC bought a new position in shares of Mid Penn Bancorp during the third quarter worth approximately $163,000. Cornercap Investment Counsel Inc. bought a new position in shares of Mid Penn Bancorp during the third quarter worth approximately $263,000. Finally, Thrivent Financial for Lutherans bought a new position in shares of Mid Penn Bancorp during the third quarter worth approximately $272,000. Institutional investors own 43.11% of the company’s stock.

Mid Penn Bancorp Company Profile

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