Mid Penn Bancorp (NASDAQ:MPB) Stock Passes Above 200 Day Moving Average – Time to Sell?

Mid Penn Bancorp (NASDAQ:MPB) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $31.85 and traded as high as $32.61. Mid Penn Bancorp shares last traded at $32.43, with a volume of 200,500 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Weiss Ratings lowered Mid Penn Bancorp from a “buy (b-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Wall Street Zen lowered Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, January 24th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Mid Penn Bancorp Stock Performance

The company has a market capitalization of $819.75 million, a P/E ratio of 14.70 and a beta of 0.49. The business has a 50 day moving average of $32.54 and a 200-day moving average of $31.88.

Mid Penn Bancorp (NASDAQ:MPB) last released its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.16). Mid Penn Bancorp had a net margin of 13.95% and a return on equity of 8.31%. The company had revenue of $64.85 million for the quarter, compared to the consensus estimate of $63.15 million.

Mid Penn Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Monday, May 4th. Mid Penn Bancorp’s dividend payout ratio is currently 40.00%.

Insider Transactions at Mid Penn Bancorp

In other Mid Penn Bancorp news, Director Thomas R. Brugger bought 818 shares of the firm’s 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 purchase, the director directly owned 6,110 shares of the company’s stock, valued at $191,548.50. The trade was a 15.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Soto Matthew G. De bought 1,618 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was acquired at an average price of $30.87 per share, for a total transaction of $49,947.66. Following the completion of the purchase, the director directly owned 114,915 shares in the company, valued at approximately $3,547,426.05. The trade was a 1.43% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 4,933 shares of company stock worth $155,522 over the last 90 days. Corporate insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Mid Penn Bancorp

Institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue bought a new position in Mid Penn Bancorp in the 3rd quarter worth about $26,000. Legal & General Group Plc increased its stake in Mid Penn Bancorp by 35.6% in the 2nd quarter. Legal & General Group Plc now owns 1,877 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 493 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Mid Penn Bancorp by 416.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,303 shares of the financial services provider’s stock worth $93,000 after acquiring an additional 2,664 shares during the last quarter. SG Americas Securities LLC bought a new position in Mid Penn Bancorp in the 3rd quarter worth about $121,000. Finally, US Bancorp DE increased its position in shares of Mid Penn Bancorp by 4,471.3% during the 3rd quarter. US Bancorp DE now owns 4,937 shares of the financial services provider’s stock valued at $141,000 after purchasing an additional 4,829 shares during the last quarter. 43.11% of the stock is currently owned by institutional investors.

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.