Geode Capital Management LLC raised its holdings in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB - Free Report) by 8.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 379,639 shares of the financial services provider's stock after purchasing an additional 29,264 shares during the period. Geode Capital Management LLC owned 1.96% of Mid Penn Bancorp worth $10,952,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new stake in Mid Penn Bancorp in the 4th quarter worth about $45,000. Emerald Advisers LLC increased its position in Mid Penn Bancorp by 261.6% in the fourth quarter. Emerald Advisers LLC now owns 2,419 shares of the financial services provider's stock worth $70,000 after buying an additional 1,750 shares in the last quarter. SG Americas Securities LLC increased its holdings 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 acquiring an additional 1,018 shares in the last quarter. Mystic Asset Management Inc. bought a new stake in shares of Mid Penn Bancorp during the 4th quarter valued at $210,000. Finally, Semanteon Capital Management LP bought a new position in shares of Mid Penn Bancorp in the fourth quarter worth about $228,000. Hedge funds and other institutional investors own 43.11% of the company's stock.
Mid Penn Bancorp Price Performance
MPB traded down $0.61 during trading on Friday, reaching $27.77. 135,449 shares of the company traded hands, compared to its average volume of 60,030. The company has a market cap of $537.52 million, a P/E ratio of 9.58 and a beta of 0.58. The firm has a fifty day simple moving average of $26.32 and a 200 day simple moving average of $29.01. Mid Penn Bancorp, Inc. has a 12-month low of $19.75 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.
Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.10. Mid Penn Bancorp had a return on equity of 8.43% and a net margin of 15.99%. The firm had revenue of $47.75 million during the quarter, compared to the consensus estimate of $47.20 million. On average, equities analysts forecast that Mid Penn Bancorp, Inc. will post 3 EPS for the current year.
Mid Penn Bancorp Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, May 26th. Stockholders of record on Thursday, May 8th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Thursday, May 8th. Mid Penn Bancorp's dividend payout ratio is currently 27.59%.
Insider Activity
In related news, CEO Rory G. Ritrievi bought 3,050 shares of the company's stock in a transaction on Monday, January 27th. The shares were acquired at an average cost of $30.05 per share, for a total transaction of $91,652.50. Following the purchase, the chief executive officer now directly owns 7,385 shares of the company's stock, valued at approximately $221,919.25. The trade was a 70.36 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Soto Matthew G. De bought 2,575 shares of the stock in a transaction on Tuesday, February 4th. The stock was purchased at an average price of $29.07 per share, with a total value of $74,855.25. Following the completion of the acquisition, the director now directly owns 103,162 shares in the company, valued at approximately $2,998,919.34. This trade represents a 2.56 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 9,010 shares of company stock valued at $266,495. 8.10% of the stock is currently owned by company insiders.
Mid Penn Bancorp 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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