Boston Partners Buys Shares of 91,199 Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Boston Partners bought a new stake in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 91,199 shares of the financial services provider's stock, valued at approximately $2,630,000. Boston Partners owned about 0.47% of Mid Penn Bancorp at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MPB. Wellington Management Group LLP raised its stake in Mid Penn Bancorp by 14.3% during the third quarter. Wellington Management Group LLP now owns 638,594 shares of the financial services provider's stock worth $19,049,000 after acquiring an additional 79,851 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of Mid Penn Bancorp during the 3rd quarter worth about $1,626,000. Raymond James Financial Inc. bought a new position in Mid Penn Bancorp during the 4th quarter valued at about $1,289,000. Hotchkis & Wiley Capital Management LLC bought a new stake in Mid Penn Bancorp during the third quarter worth about $1,078,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Mid Penn Bancorp by 159.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,151 shares of the financial services provider's stock worth $1,360,000 after buying an additional 28,975 shares during the last quarter. 43.11% of the stock is owned by institutional investors and hedge funds.

Mid Penn Bancorp Price Performance

Shares of MPB traded up $0.17 on Wednesday, hitting $26.25. The company's stock had a trading volume of 80,978 shares, compared to its average volume of 72,724. The company has a 50 day moving average price of $28.40 and a 200 day moving average price of $29.68. Mid Penn Bancorp, Inc. has a fifty-two week low of $19.20 and a fifty-two week high of $33.87. The company has a market capitalization of $508.10 million, a PE ratio of 9.05 and a beta of 0.53. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.95 and a quick ratio of 0.94.

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Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share for the quarter, meeting analysts' consensus estimates of $0.71. Mid Penn Bancorp had a return on equity of 8.43% and a net margin of 15.99%. On average, research analysts anticipate that Mid Penn Bancorp, Inc. will post 3 earnings per share for the current fiscal year.

Mid Penn Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, February 7th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.80 annualized dividend and a dividend yield of 3.05%. Mid Penn Bancorp's dividend payout ratio (DPR) is currently 27.59%.

Insider Activity at Mid Penn Bancorp

In other Mid Penn Bancorp news, Director Soto Matthew G. De purchased 2,575 shares of the stock in a transaction dated Tuesday, February 4th. The stock was bought at an average price of $29.07 per share, for a total transaction of $74,855.25. Following the transaction, the director now directly owns 103,162 shares in the company, valued at $2,998,919.34. This represents a 2.56 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Rory G. Ritrievi acquired 3,050 shares of the business's stock in a transaction that occurred on Monday, January 27th. The stock was acquired at an average price of $30.05 per share, for a total transaction of $91,652.50. Following the completion of the acquisition, the chief executive officer now directly owns 7,385 shares of the company's stock, valued at $221,919.25. This trade represents a 70.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 9,007 shares of company stock valued at $266,467 over the last quarter. Corporate insiders own 10.70% of the company's stock.

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.