Bank of New York Mellon Corp Increases Stock Position in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Bank of New York Mellon Corp increased its stake in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB - Free Report) by 19.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,669 shares of the financial services provider's stock after purchasing an additional 12,297 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.45% of Mid Penn Bancorp worth $2,153,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MPB. Stonebridge Financial Group LLC acquired a new stake in shares of Mid Penn Bancorp during the fourth quarter worth $45,000. SG Americas Securities LLC boosted its stake in 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 buying an additional 1,018 shares during the last quarter. Thrivent Financial for Lutherans acquired a new position in shares of Mid Penn Bancorp during the 3rd quarter valued at about $272,000. Franklin Resources Inc. purchased a new position in shares of Mid Penn Bancorp during the 3rd quarter worth about $285,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Mid Penn Bancorp during the 3rd quarter worth about $542,000. Hedge funds and other institutional investors own 43.11% of the company's stock.

Mid Penn Bancorp Trading Up 0.2 %

Mid Penn Bancorp stock traded up $0.06 during trading on Tuesday, reaching $26.08. The company had a trading volume of 81,858 shares, compared to its average volume of 51,393. 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 firm has a market capitalization of $504.80 million, a price-to-earnings ratio of 8.99 and a beta of 0.53. Mid Penn Bancorp, Inc. has a 12-month low of $19.20 and a 12-month high of $33.87. The stock's 50 day moving average price is $28.45 and its two-hundred day moving average price is $29.70.

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Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) last announced its quarterly earnings data 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 net margin of 15.99% and a return on equity of 8.43%. As a group, equities analysts expect that Mid Penn Bancorp, Inc. will post 3 earnings per share for the current fiscal year.

Mid Penn Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, February 7th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, February 7th. This represents a $0.80 annualized dividend and a yield of 3.07%. Mid Penn Bancorp's dividend payout ratio is presently 27.59%.

Insider Transactions at Mid Penn Bancorp

In related news, CEO Rory G. Ritrievi acquired 3,365 shares of Mid Penn Bancorp stock in a transaction on Friday, February 14th. The shares were bought at an average price of $29.56 per share, for a total transaction of $99,469.40. Following the completion of the purchase, the chief executive officer now directly owns 10,750 shares in the company, valued at $317,770. This trade represents a 45.57 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction, the director now directly owns 103,162 shares of the company's stock, valued at approximately $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 a total of 9,007 shares of company stock worth $266,467 in the last three months. 10.70% of the stock is currently owned by company insiders.

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.