Mid Penn Bancorp, Inc. (NASDAQ:MPB) Director Buys $74,855.25 in Stock

Mid Penn Bancorp, Inc. (NASDAQ:MPB) Director Soto Matthew G. De bought 2,575 shares of Mid Penn Bancorp stock in a transaction on Tuesday, February 4th. The stock was acquired at an average price of $29.07 per share, with a total value of $74,855.25. Following the completion of the purchase, the director now directly owns 103,162 shares of the company’s stock, valued at approximately $2,998,919.34. The trade was a 2.56 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Mid Penn Bancorp Stock Up 0.5 %

Shares of MPB traded up $0.16 on Wednesday, hitting $29.63. The company’s stock had a trading volume of 36,665 shares, compared to its average volume of 70,719. The firm’s fifty day moving average price is $29.85 and its 200-day moving average price is $29.71. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.12. Mid Penn Bancorp, Inc. has a fifty-two week low of $19.20 and a fifty-two week high of $33.87. The firm has a market capitalization of $492.37 million, a price-to-earnings ratio of 10.22 and a beta of 0.56.

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

Mid Penn Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, February 7th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.70%. Mid Penn Bancorp’s payout ratio is 27.59%.

Wall Street Analyst Weigh In

MPB has been the topic of several research analyst reports. Piper Sandler raised their price target on Mid Penn Bancorp from $31.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Keefe, Bruyette & Woods boosted their target price on shares of Mid Penn Bancorp from $34.00 to $37.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Finally, StockNews.com cut Mid Penn Bancorp from a “buy” rating to a “hold” rating in a report on Monday, October 14th.

Institutional Trading of Mid Penn Bancorp

A number of hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP grew its stake in Mid Penn Bancorp by 14.3% during the third quarter. Wellington Management Group LLP now owns 638,594 shares of the financial services provider’s stock worth $19,049,000 after buying an additional 79,851 shares in the last quarter. Geode Capital Management LLC raised its stake in Mid Penn Bancorp by 5.3% during the 3rd quarter. Geode Capital Management LLC now owns 350,375 shares of the financial services provider’s stock worth $10,454,000 after buying an additional 17,730 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Mid Penn Bancorp during the third quarter worth about $542,000. Jane Street Group LLC raised its position in Mid Penn Bancorp by 72.7% in the 3rd quarter. Jane Street Group LLC now owns 22,145 shares of the financial services provider’s stock valued at $661,000 after buying an additional 9,324 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Mid Penn Bancorp by 61.3% during the third quarter. Barclays PLC now owns 36,805 shares of the financial services provider’s stock worth $1,098,000 after purchasing an additional 13,986 shares during the last quarter. 43.11% of the stock is owned by institutional investors and hedge funds.

About Mid Penn Bancorp

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.