Rory G. Ritrievi Buys 3,050 Shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) Stock

Mid Penn Bancorp, Inc. (NASDAQ:MPB - Get Free Report) CEO Rory G. Ritrievi bought 3,050 shares of the company's stock in a transaction on Monday, January 27th. The stock was bought at an average cost of $30.05 per share, with a total value of $91,652.50. Following the completion of the acquisition, the chief executive officer now owns 7,385 shares of the company's stock, valued at $221,919.25. This represents a 70.36 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Mid Penn Bancorp Trading Up 0.1 %

MPB traded up $0.03 during trading on Tuesday, hitting $30.38. The company's stock had a trading volume of 68,625 shares, compared to its average volume of 68,090. Mid Penn Bancorp, Inc. has a twelve month low of $19.20 and a twelve month high of $33.87. The stock has a market cap of $504.92 million, a PE ratio of 10.48 and a beta of 0.57. The firm's 50 day moving average price is $30.08 and its 200-day moving average price is $29.50. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.95 and a quick ratio of 0.94.

Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 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, analysts expect that Mid Penn Bancorp, Inc. will post 3 earnings per share for the current year.

Mid Penn Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, February 7th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $0.80 annualized dividend and a dividend yield of 2.63%. Mid Penn Bancorp's dividend payout ratio is presently 27.59%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MPB. Piper Sandler raised their price objective on shares of Mid Penn Bancorp from $31.00 to $35.00 and gave the stock an "overweight" rating in a research note on Monday, October 28th. Keefe, Bruyette & Woods upped their price objective on Mid Penn Bancorp from $34.00 to $37.00 and gave the company an "outperform" rating in a research report on Tuesday, October 29th. Finally, StockNews.com cut Mid Penn Bancorp from a "buy" rating to a "hold" rating in a research report on Monday, October 14th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in shares of 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 valued at $19,049,000 after acquiring an additional 79,851 shares during the period. Geode Capital Management LLC raised its position in Mid Penn Bancorp by 5.3% in the third quarter. Geode Capital Management LLC now owns 350,375 shares of the financial services provider's stock valued at $10,454,000 after purchasing an additional 17,730 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Mid Penn Bancorp during the third quarter worth about $542,000. Jane Street Group LLC boosted its position in shares of Mid Penn Bancorp by 72.7% in the third 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 during the period. Finally, Barclays PLC grew its stake in shares of Mid Penn Bancorp by 61.3% in the third quarter. Barclays PLC now owns 36,805 shares of the financial services provider's stock valued at $1,098,000 after buying an additional 13,986 shares in the last quarter. 43.11% of the stock is owned by hedge funds and other institutional investors.

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.