Insider Buying: Mid Penn Bancorp, Inc. (NASDAQ:MPB) Director Buys 8,474 Shares of Stock

Mid Penn Bancorp, Inc. (NASDAQ:MPB - Get Free Report) Director Albert J. Evans acquired 8,474 shares of the company's stock in a transaction on Friday, November 1st. The stock was acquired at an average price of $29.50 per share, with a total value of $249,983.00. Following the purchase, the director now directly owns 34,712 shares in the company, valued at approximately $1,024,004. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Mid Penn Bancorp Trading Down 1.1 %

Shares of NASDAQ:MPB traded down $0.34 during trading on Tuesday, reaching $30.67. The stock had a trading volume of 128,443 shares, compared to its average volume of 37,732. The firm's fifty day moving average is $30.01 and its 200 day moving average is $25.61. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.95 and a current ratio of 0.95. Mid Penn Bancorp, Inc. has a 52 week low of $19.20 and a 52 week high of $32.86. The stock has a market cap of $512.19 million, a price-to-earnings ratio of 10.54 and a beta of 0.57.

Mid Penn Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend is Friday, November 8th. Mid Penn Bancorp's dividend payout ratio is currently 27.49%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of MPB. BNP Paribas Financial Markets lifted its position in shares of Mid Penn Bancorp by 53.2% during the 1st quarter. BNP Paribas Financial Markets now owns 22,545 shares of the financial services provider's stock valued at $451,000 after acquiring an additional 7,832 shares during the period. LSV Asset Management lifted its position in shares of Mid Penn Bancorp by 11.1% during the 1st quarter. LSV Asset Management now owns 128,961 shares of the financial services provider's stock valued at $2,581,000 after acquiring an additional 12,883 shares during the period. Empowered Funds LLC raised its holdings in Mid Penn Bancorp by 7.8% during the first quarter. Empowered Funds LLC now owns 31,268 shares of the financial services provider's stock worth $626,000 after buying an additional 2,275 shares during the last quarter. Vanguard Group Inc. raised its holdings in Mid Penn Bancorp by 1.8% during the first quarter. Vanguard Group Inc. now owns 688,363 shares of the financial services provider's stock worth $13,774,000 after buying an additional 12,314 shares during the last quarter. Finally, Kennedy Capital Management LLC raised its holdings in Mid Penn Bancorp by 126.4% during the first quarter. Kennedy Capital Management LLC now owns 96,086 shares of the financial services provider's stock worth $1,923,000 after buying an additional 53,650 shares during the last quarter. Institutional investors and hedge funds own 43.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MPB shares. StockNews.com cut shares of Mid Penn Bancorp from a "buy" rating to a "hold" rating in a research report on Monday, October 14th. Keefe, Bruyette & Woods lifted their price target on shares of Mid Penn Bancorp from $34.00 to $37.00 and gave the company an "outperform" rating in a report on Tuesday, October 29th. Finally, Piper Sandler lifted their price target on shares of Mid Penn Bancorp from $31.00 to $35.00 and gave the company an "overweight" rating in a report on Monday, October 28th.

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.