LSV Asset Management Decreases Stake in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

LSV Asset Management lessened its holdings in Mid Penn Bancorp, Inc. (NASDAQ:MPB - Free Report) by 19.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 141,059 shares of the financial services provider's stock after selling 33,896 shares during the period. LSV Asset Management owned approximately 0.73% of Mid Penn Bancorp worth $4,068,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MPB. Stonebridge Financial Group LLC acquired a new position in shares of Mid Penn Bancorp during the fourth quarter worth $45,000. Emerald Advisers LLC lifted its stake in Mid Penn Bancorp by 261.6% during the fourth quarter. Emerald Advisers LLC now owns 2,419 shares of the financial services provider's stock worth $70,000 after purchasing an additional 1,750 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Mid Penn Bancorp by 18.6% in the fourth quarter. SG Americas Securities LLC now owns 6,484 shares of the financial services provider's stock valued at $187,000 after purchasing an additional 1,018 shares in the last quarter. Mystic Asset Management Inc. purchased a new position in Mid Penn Bancorp in the fourth quarter valued at approximately $210,000. Finally, Semanteon Capital Management LP acquired a new stake in Mid Penn Bancorp during the fourth quarter worth approximately $228,000. 43.11% of the stock is owned by institutional investors and hedge funds.

Mid Penn Bancorp Stock Up 0.6 %

Shares of NASDAQ MPB traded up $0.14 during mid-day trading on Friday, reaching $25.39. The company had a trading volume of 73,861 shares, compared to its average volume of 59,364. Mid Penn Bancorp, Inc. has a 52-week low of $19.62 and a 52-week high of $33.87. The stock has a market cap of $491.45 million, a P/E ratio of 8.76 and a beta of 0.58. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12. The firm has a 50 day simple moving average of $26.54 and a two-hundred day simple moving average of $29.07.

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

Mid Penn Bancorp Announces Dividend

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

Insider Activity

In related 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 shares were purchased 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 of the company's stock, valued at approximately $2,998,919.34. The trade was a 2.56 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Rory G. Ritrievi acquired 3,365 shares of the firm's stock in a transaction on Friday, February 14th. The shares were bought at an average cost of $29.56 per share, with a total value of $99,469.40. Following the completion of the transaction, 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 disclosure for this purchase can be found here. Insiders have acquired 9,010 shares of company stock valued at $266,495 in the last ninety days. 8.10% of the stock is currently owned by company insiders.

Mid Penn Bancorp Company 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.