Connor Clark & Lunn Investment Management Ltd. Has $1.36 Million Stock Position in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB - Free Report) by 159.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,151 shares of the financial services provider's stock after purchasing an additional 28,975 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.24% of Mid Penn Bancorp worth $1,360,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Stonebridge Financial Group LLC bought a new stake in shares of Mid Penn Bancorp in the 4th quarter worth approximately $45,000. SG Americas Securities LLC raised its holdings in shares of 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 in the last quarter. Thrivent Financial for Lutherans acquired a new position in shares of Mid Penn Bancorp in the 3rd quarter worth approximately $272,000. Franklin Resources Inc. acquired a new position in shares of Mid Penn Bancorp in the 3rd quarter worth approximately $285,000. Finally, Jane Street Group LLC raised its holdings in shares of 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 buying an additional 9,324 shares in the last quarter. Institutional investors own 43.11% of the company's stock.

Insider Transactions at Mid Penn Bancorp

In other Mid Penn Bancorp news, Director Soto Matthew G. De purchased 2,575 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The stock was purchased at an average cost of $29.07 per share, with a total value of $74,855.25. Following the acquisition, 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 position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Rory G. Ritrievi purchased 3,365 shares of the company's stock in a transaction that occurred on Friday, February 14th. The shares were acquired at an average cost of $29.56 per share, with a total value of $99,469.40. Following the completion of the acquisition, the chief executive officer now directly owns 10,750 shares in the company, valued at approximately $317,770. This represents a 45.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 9,007 shares of company stock valued at $266,467. Corporate insiders own 10.70% of the company's stock.

Remove Ads

Mid Penn Bancorp Price Performance

Shares of MPB traded down $0.56 during mid-day trading on Friday, reaching $25.39. The company had a trading volume of 484,864 shares, compared to its average volume of 51,385. Mid Penn Bancorp, Inc. has a twelve month low of $19.20 and a twelve month high of $33.87. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.95 and a quick ratio of 0.94. The company's 50-day moving average is $28.48 and its 200-day moving average is $29.71. The company has a market capitalization of $491.45 million, a P/E ratio of 8.76 and a beta of 0.53.

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, hitting 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, equities analysts anticipate that Mid Penn Bancorp, Inc. will post 3 EPS for the current year.

Mid Penn Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, February 7th were issued a $0.20 dividend. The ex-dividend date was Friday, February 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.15%. Mid Penn Bancorp's payout ratio is presently 27.59%.

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.