Alliancebernstein L.P. Lowers Position in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Alliancebernstein L.P. lowered its position in Mid Penn Bancorp, Inc. (NASDAQ:MPB - Free Report) by 14.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 253,686 shares of the financial services provider's stock after selling 44,073 shares during the period. Alliancebernstein L.P. owned 1.31% of Mid Penn Bancorp worth $7,316,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in Mid Penn Bancorp by 127.4% in the fourth quarter. Wellington Management Group LLP now owns 1,452,177 shares of the financial services provider's stock valued at $41,881,000 after buying an additional 813,583 shares during the period. Vanguard Group Inc. raised its position in shares of Mid Penn Bancorp by 17.3% in the 4th quarter. Vanguard Group Inc. now owns 962,636 shares of the financial services provider's stock worth $27,762,000 after acquiring an additional 141,756 shares in the last quarter. Boston Partners acquired a new position in shares of Mid Penn Bancorp in the 4th quarter valued at about $2,630,000. Raymond James Financial Inc. bought a new stake in shares of Mid Penn Bancorp during the 4th quarter valued at about $1,289,000. Finally, American Century Companies Inc. grew its stake in Mid Penn Bancorp by 14.5% during the fourth quarter. American Century Companies Inc. now owns 244,971 shares of the financial services provider's stock worth $7,065,000 after purchasing an additional 30,965 shares during the period. 43.11% of the stock is owned by institutional investors.

Mid Penn Bancorp Trading Up 0.0 %

MPB stock traded up $0.01 during mid-day trading on Thursday, reaching $25.26. The company's stock had a trading volume of 14,615 shares, compared to its average volume of 58,958. The company has a market cap of $488.97 million, a price-to-earnings ratio of 8.73 and a beta of 0.58. Mid Penn Bancorp, Inc. has a 12 month low of $19.22 and a 12 month high of $33.87. The business's 50 day moving average price is $26.72 and its 200 day moving average price is $29.13. 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 released its earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, meeting 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, equities research analysts predict that Mid Penn Bancorp, Inc. will post 3 EPS for the current year.

Mid Penn Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, February 7th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend was Friday, February 7th. Mid Penn Bancorp's payout ratio is 27.59%.

Insider Buying and Selling

In other Mid Penn Bancorp news, Director Soto Matthew G. De bought 2,575 shares of the firm's stock in a transaction dated Tuesday, February 4th. The stock was bought at an average cost of $29.07 per share, with a total value of $74,855.25. Following the completion of the transaction, the director now directly 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Rory G. Ritrievi bought 3,365 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was acquired 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 in the company, valued at $317,770. The trade was 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 bought 9,010 shares of company stock valued at $266,495. 8.10% of the stock is owned by company insiders.

Mid Penn Bancorp Profile

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.