Connor Clark & Lunn Investment Management Ltd. Has $1.36 Million Stake in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) by 159.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,151 shares of the financial services provider’s stock after purchasing an additional 28,975 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Mid Penn Bancorp were worth $1,360,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new stake in Mid Penn Bancorp during the fourth quarter worth about $45,000. SG Americas Securities LLC lifted its holdings in shares of Mid Penn Bancorp by 18.6% during the 4th quarter. SG Americas Securities LLC now owns 6,484 shares of the financial services provider’s stock worth $187,000 after acquiring an additional 1,018 shares during the period. Thrivent Financial for Lutherans acquired a new stake in shares of Mid Penn Bancorp during the 3rd quarter worth approximately $272,000. Franklin Resources Inc. bought a new position in Mid Penn Bancorp in the third quarter valued at approximately $285,000. Finally, Jane Street Group LLC raised its position in Mid Penn Bancorp by 72.7% during the third quarter. Jane Street Group LLC now owns 22,145 shares of the financial services provider’s stock valued at $661,000 after purchasing an additional 9,324 shares in the last quarter. 43.11% of the stock is owned by institutional investors.

Mid Penn Bancorp Stock Up 0.7 %

NASDAQ MPB opened at $26.23 on Thursday. Mid Penn Bancorp, Inc. has a fifty-two week low of $19.20 and a fifty-two week high of $33.87. The business has a fifty day moving average price of $28.56 and a two-hundred day moving average price of $29.77. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.95 and a quick ratio of 0.94. The stock has a market capitalization of $507.71 million, a PE ratio of 9.04 and a beta of 0.53.

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

Mid Penn Bancorp Announces Dividend

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

Insider Buying and Selling

In other news, CEO Rory G. Ritrievi acquired 3,365 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average price of $29.56 per share, with a total value of $99,469.40. Following the acquisition, the chief executive officer now directly owns 10,750 shares in the company, valued at $317,770. The trade was a 45.57 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Soto Matthew G. De bought 2,575 shares of the stock in a transaction on Tuesday, February 4th. The stock was purchased at an average cost of $29.07 per share, with a total value of $74,855.25. Following the acquisition, the director now owns 103,162 shares in the company, valued at approximately $2,998,919.34. This represents a 2.56 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 9,007 shares of company stock worth $266,467 in the last three months. 10.70% of the stock is owned by corporate insiders.

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.