Mid Penn Bancorp (NASDAQ:MPB) Sees Strong Trading Volume – Should You Buy?

Shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) saw unusually-strong trading volume on Friday . Approximately 56,351 shares were traded during mid-day trading, an increase of 9% from the previous session’s volume of 51,807 shares.The stock last traded at $25.77 and had previously closed at $26.25.

Mid Penn Bancorp Stock Performance

The company has a market cap of $497.06 million, a P/E ratio of 8.86 and a beta of 0.53. The stock’s 50-day moving average price is $28.23 and its 200-day moving average price is $29.61. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.95 and a quick ratio of 0.94.

Mid Penn Bancorp (NASDAQ:MPB) last announced its 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%. Equities analysts anticipate that Mid Penn Bancorp, Inc. will post 3 EPS for the current year.

Mid Penn Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, February 7th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.80 annualized dividend and a yield of 3.12%. Mid Penn Bancorp’s dividend payout ratio is presently 27.59%.

Insider Transactions at Mid Penn Bancorp

In other news, Director Soto Matthew G. De purchased 2,575 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was bought at an average price 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. The trade was a 2.56 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Rory G. Ritrievi acquired 3,365 shares of the stock in a transaction on Friday, February 14th. The shares were purchased at an average price 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 of the company’s stock, valued at approximately $317,770. This represents a 45.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 9,007 shares of company stock valued at $266,467. 10.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mid Penn Bancorp

A number of institutional investors have recently modified their holdings of MPB. Stonebridge Financial Group LLC bought a new position in shares of Mid Penn Bancorp in the fourth quarter worth about $45,000. Emerald Advisers LLC grew its position in Mid Penn Bancorp by 261.6% during the 4th quarter. Emerald Advisers LLC now owns 2,419 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 1,750 shares during the last quarter. SG Americas Securities LLC increased its holdings in Mid Penn Bancorp by 18.6% in the 4th quarter. SG Americas Securities LLC now owns 6,484 shares of the financial services provider’s stock worth $187,000 after purchasing an additional 1,018 shares in the last quarter. Mystic Asset Management Inc. bought a new position in Mid Penn Bancorp in the fourth quarter valued at about $210,000. Finally, Semanteon Capital Management LP acquired a new stake in shares of Mid Penn Bancorp during the fourth quarter valued at about $228,000. Institutional investors and hedge funds own 43.11% 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.