American Century Companies Inc. boosted its position in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB - Free Report) by 14.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 244,971 shares of the financial services provider's stock after buying an additional 30,965 shares during the period. American Century Companies Inc. owned 1.27% of Mid Penn Bancorp worth $7,065,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in MPB. Thrivent Financial for Lutherans acquired a new stake in shares of Mid Penn Bancorp in the third quarter valued at about $272,000. Hotchkis & Wiley Capital Management LLC purchased a new stake in Mid Penn Bancorp during the 3rd quarter valued at about $1,078,000. State Street Corp raised its holdings in Mid Penn Bancorp by 4.9% in the 3rd quarter. State Street Corp now owns 302,384 shares of the financial services provider's stock valued at $9,020,000 after acquiring an additional 14,148 shares during the last quarter. Wellington Management Group LLP lifted its stake in Mid Penn Bancorp by 14.3% in the 3rd quarter. Wellington Management Group LLP now owns 638,594 shares of the financial services provider's stock worth $19,049,000 after purchasing an additional 79,851 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in Mid Penn Bancorp by 72.7% in the 3rd quarter. Jane Street Group LLC now owns 22,145 shares of the financial services provider's stock worth $661,000 after purchasing an additional 9,324 shares in the last quarter. Institutional investors and hedge funds own 43.11% of the company's stock.
Mid Penn Bancorp Price Performance
Shares of MPB stock traded down $0.32 during trading hours on Tuesday, reaching $24.36. The company had a trading volume of 269,864 shares, compared to its average volume of 57,108. Mid Penn Bancorp, Inc. has a 12-month low of $19.20 and a 12-month high of $33.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.94 and a current ratio of 0.95. The company has a market capitalization of $471.51 million, a price-to-earnings ratio of 8.40 and a beta of 0.58. The stock has a fifty day moving average of $27.42 and a 200-day moving average of $29.35.
Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.71. Mid Penn Bancorp had a return on equity of 8.43% and a net margin of 15.99%. On average, equities analysts anticipate that Mid Penn Bancorp, Inc. will post 3 earnings per share for the current year.
Mid Penn Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, February 7th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend was Friday, February 7th. Mid Penn Bancorp's payout ratio is currently 27.59%.
Insiders Place Their Bets
In related news, CEO Rory G. Ritrievi acquired 3,050 shares of Mid Penn Bancorp stock in a transaction that occurred on Monday, January 27th. The shares were purchased at an average cost of $30.05 per share, for a total transaction of $91,652.50. Following the acquisition, the chief executive officer now owns 7,385 shares in the company, valued at approximately $221,919.25. This represents a 70.36 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Soto Matthew G. De bought 2,575 shares of the stock in a transaction on Tuesday, February 4th. The shares were bought at an average cost of $29.07 per share, with a total value of $74,855.25. Following the purchase, the director now owns 103,162 shares of the company's stock, valued at $2,998,919.34. This trade represents a 2.56 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 9,010 shares of company stock valued at $266,495 over the last ninety days. Company insiders own 10.70% of the company's stock.
Mid Penn Bancorp Company 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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