Insider Buying: Mid Penn Bancorp, Inc. (NASDAQ:MPB) Director Acquires 2,575 Shares of Stock

Mid Penn Bancorp, Inc. (NASDAQ:MPB) Director Soto Matthew G. De purchased 2,575 shares of Mid Penn Bancorp stock in a transaction dated Tuesday, February 4th. The stock was bought at an average price of $29.07 per share, for a total transaction of $74,855.25. Following the completion of the purchase, the director now owns 103,162 shares in the company, valued at $2,998,919.34. This represents a 2.56 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Mid Penn Bancorp Stock Down 1.7 %

NASDAQ:MPB opened at $29.78 on Friday. Mid Penn Bancorp, Inc. has a one year low of $19.20 and a one year high of $33.87. 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 company has a market cap of $494.94 million, a PE ratio of 10.27 and a beta of 0.56. The firm’s 50 day simple moving average is $29.77 and its 200 day simple moving average is $29.72.

Mid Penn Bancorp (NASDAQ:MPB) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 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%. On average, research analysts anticipate that Mid Penn Bancorp, Inc. will post 3 earnings per share for the current year.

Mid Penn Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, February 7th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $0.80 annualized dividend and a dividend yield of 2.69%. Mid Penn Bancorp’s payout ratio is 27.59%.

Wall Street Analyst Weigh In

MPB has been the subject of several research reports. Piper Sandler increased their price objective on shares of Mid Penn Bancorp from $31.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Keefe, Bruyette & Woods increased their price target on Mid Penn Bancorp from $34.00 to $37.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Finally, StockNews.com lowered Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, October 14th.

Hedge Funds Weigh In On Mid Penn Bancorp

Hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its holdings in Mid Penn Bancorp by 14.3% in the third quarter. Wellington Management Group LLP now owns 638,594 shares of the financial services provider’s stock valued at $19,049,000 after acquiring an additional 79,851 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Mid Penn Bancorp by 5.3% in the 3rd quarter. Geode Capital Management LLC now owns 350,375 shares of the financial services provider’s stock worth $10,454,000 after purchasing an additional 17,730 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Mid Penn Bancorp in the 3rd quarter valued at $542,000. Jane Street Group LLC raised its stake 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 worth $661,000 after buying an additional 9,324 shares during the last quarter. Finally, Barclays PLC raised its stake in Mid Penn Bancorp by 61.3% during the third quarter. Barclays PLC now owns 36,805 shares of the financial services provider’s stock worth $1,098,000 after buying an additional 13,986 shares during the last quarter. 43.11% of the stock is currently owned by institutional investors.

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.