Mid Penn Bancorp (NASDAQ:MPB) Director Thomas Brugger Purchases 818 Shares of Stock

Mid Penn Bancorp (NASDAQ:MPB) Director Thomas Brugger acquired 818 shares of the stock in a transaction on Friday, March 6th. The shares were acquired at an average cost of $31.35 per share, for a total transaction of $25,644.30. Following the completion of the transaction, the director directly owned 6,110 shares in the company, valued at $191,548.50. The trade was a 15.46% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Mid Penn Bancorp Price Performance

Shares of NASDAQ:MPB opened at $31.53 on Tuesday. Mid Penn Bancorp has a one year low of $22.50 and a one year high of $35.22. The stock has a market capitalization of $726.77 million, a price-to-earnings ratio of 12.36 and a beta of 0.55. The company has a 50-day simple moving average of $32.62 and a 200-day simple moving average of $30.73. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.95 and a current ratio of 0.95.

Mid Penn Bancorp (NASDAQ:MPB) last released its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.03. The firm had revenue of $61.52 million for the quarter, compared to analyst estimates of $62.65 million. Mid Penn Bancorp had a return on equity of 8.84% and a net margin of 16.04%. On average, analysts predict that Mid Penn Bancorp will post 3 EPS for the current year.

Mid Penn Bancorp Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Tuesday, February 17th. Shareholders of record on Friday, February 6th were given a dividend of $0.05 per share. This represents a yield of 254.0%. The ex-dividend date of this dividend was Friday, February 6th. Mid Penn Bancorp’s dividend payout ratio (DPR) is presently 34.51%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in Mid Penn Bancorp by 25.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,224,513 shares of the financial services provider’s stock valued at $63,710,000 after purchasing an additional 450,909 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Mid Penn Bancorp by 102.2% during the 3rd quarter. Alliancebernstein L.P. now owns 802,098 shares of the financial services provider’s stock worth $22,972,000 after buying an additional 405,316 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Mid Penn Bancorp by 1,238.5% in the 3rd quarter. Franklin Resources Inc. now owns 126,056 shares of the financial services provider’s stock valued at $3,610,000 after buying an additional 116,638 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Mid Penn Bancorp in the 2nd quarter valued at approximately $3,186,000. Finally, Geode Capital Management LLC boosted its stake in shares of Mid Penn Bancorp by 21.4% in the second quarter. Geode Capital Management LLC now owns 501,446 shares of the financial services provider’s stock valued at $14,144,000 after buying an additional 88,398 shares in the last quarter. 43.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MPB shares. Wall Street Zen lowered Mid Penn Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, January 24th. Weiss Ratings raised Mid Penn Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $37.00.

About Mid Penn Bancorp

Mid Penn Bancorp, Inc is a bank holding company headquartered in Hummelstown, Pennsylvania, serving as the parent of Mid Penn Bank. As a full-service financial institution, Mid Penn Bank operates a network of branches across central Pennsylvania, delivering retail and commercial banking services to individuals, families and businesses in its regional markets.

Through its banking subsidiary, the company offers a broad range of deposit products, including checking accounts, savings accounts and certificates of deposit, alongside consumer and commercial lending solutions.