Mid Penn Bancorp, Inc. (NASDAQ:MPB) Shares Sold by Royce & Associates LP

Royce & Associates LP decreased its holdings in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) by 9.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 186,617 shares of the financial services provider’s stock after selling 18,371 shares during the quarter. Royce & Associates LP owned about 0.96% of Mid Penn Bancorp worth $5,382,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its holdings in shares of Mid Penn Bancorp by 14.3% in the 3rd quarter. Wellington Management Group LLP now owns 638,594 shares of the financial services provider’s stock worth $19,049,000 after acquiring an additional 79,851 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new stake in Mid Penn Bancorp in the third quarter valued at approximately $1,626,000. Raymond James Financial Inc. acquired a new position in Mid Penn Bancorp during the fourth quarter worth $1,289,000. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Mid Penn Bancorp during the third quarter worth $1,078,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Mid Penn Bancorp by 159.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,151 shares of the financial services provider’s stock valued at $1,360,000 after buying an additional 28,975 shares in the last quarter. Hedge funds and other institutional investors own 43.11% of the company’s stock.

Mid Penn Bancorp Price Performance

MPB opened at $26.23 on Thursday. The stock’s 50-day moving average price is $28.56 and its 200 day moving average price is $29.77. Mid Penn Bancorp, Inc. has a 12-month low of $19.20 and a 12-month high of $33.87. The firm has a market cap of $507.71 million, a price-to-earnings ratio of 9.04 and a beta of 0.53. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12.

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, hitting analysts’ consensus estimates of $0.71. Mid Penn Bancorp had a net margin of 15.99% and a return on equity of 8.43%. As a group, sell-side analysts expect that Mid Penn Bancorp, Inc. will post 3 earnings per share for the current year.

Mid Penn Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, February 7th were given a $0.20 dividend. The ex-dividend date was Friday, February 7th. This represents a $0.80 annualized dividend and a yield of 3.05%. Mid Penn Bancorp’s dividend payout ratio is presently 27.59%.

Insiders Place Their Bets

In other news, Director Soto Matthew G. De acquired 2,575 shares of Mid Penn Bancorp stock in a transaction dated Tuesday, February 4th. The shares were acquired at an average cost of $29.07 per share, for a total transaction of $74,855.25. Following the acquisition, the director now owns 103,162 shares of the company’s stock, valued at $2,998,919.34. This trade represents a 2.56 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Rory G. Ritrievi acquired 3,365 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were purchased at an average cost of $29.56 per share, with a total value of $99,469.40. Following the completion of the transaction, the chief executive officer now owns 10,750 shares in the company, valued at approximately $317,770. The trade was a 45.57 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 9,007 shares of company stock worth $266,467 over the last 90 days. Corporate insiders own 10.70% of the company’s stock.

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.