Prudential Financial Inc. acquired a new position in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 18,200 shares of the financial services provider's stock, valued at approximately $525,000. Prudential Financial Inc. owned about 0.09% of Mid Penn Bancorp as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Rhumbline Advisers raised its position in shares of Mid Penn Bancorp by 2.6% in the 4th quarter. Rhumbline Advisers now owns 24,386 shares of the financial services provider's stock worth $703,000 after buying an additional 621 shares during the period. SG Americas Securities LLC raised its holdings in shares of 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 during the period. Stonebridge Financial Group LLC purchased a new position in shares of Mid Penn Bancorp in the 4th quarter worth about $45,000. Empowered Funds LLC lifted its stake in shares of Mid Penn Bancorp by 4.8% in the 4th quarter. Empowered Funds LLC now owns 37,063 shares of the financial services provider's stock valued at $1,069,000 after purchasing an additional 1,713 shares in the last quarter. Finally, Emerald Advisers LLC increased 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 purchasing an additional 1,750 shares in the last quarter. Hedge funds and other institutional investors own 43.11% of the company's stock.
Insider Buying and Selling
In other news, CEO Rory G. Ritrievi acquired 3,365 shares of the business's stock in a transaction on Friday, February 14th. The shares were purchased at an average price of $29.56 per share, for a total transaction of $99,469.40. Following the acquisition, the chief executive officer now directly owns 10,750 shares of the company's stock, valued at $317,770. This represents a 45.57 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Soto Matthew G. De bought 2,575 shares of the stock in a transaction dated Tuesday, February 4th. The shares were acquired at an average price of $29.07 per share, with a total value of $74,855.25. Following the completion of the purchase, the director now directly owns 103,162 shares of the company's stock, 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. In the last ninety days, insiders have purchased 9,010 shares of company stock valued at $266,495. Corporate insiders own 10.70% of the company's stock.
Mid Penn Bancorp Trading Down 0.4 %
MPB traded down $0.10 during trading on Friday, hitting $24.25. 74,616 shares of the company's stock were exchanged, compared to its average volume of 58,195. Mid Penn Bancorp, Inc. has a 1 year low of $19.20 and a 1 year high of $33.87. The stock has a 50 day moving average price of $27.01 and a 200 day moving average price of $29.21. The firm has a market cap of $469.38 million, a P/E ratio of 8.36 and a beta of 0.58. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12.
Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share 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%. As a group, analysts expect that Mid Penn Bancorp, Inc. will post 3 EPS for the current fiscal year.
Mid Penn Bancorp Announces Dividend
The business also recently announced 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. The ex-dividend date was Friday, February 7th. This represents a $0.80 annualized dividend and a dividend yield of 3.30%. Mid Penn Bancorp's payout ratio is currently 27.59%.
Mid Penn Bancorp Profile
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Free Report)
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.
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