Mid Penn Bancorp, Inc. (NASDAQ:MPB) CEO Rory G. Ritrievi Buys 500 Shares

Mid Penn Bancorp, Inc. (NASDAQ:MPB - Get Free Report) CEO Rory G. Ritrievi bought 500 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The stock was acquired at an average cost of $29.50 per share, with a total value of $14,750.00. Following the transaction, the chief executive officer now owns 49,529 shares of the company's stock, valued at $1,461,105.50. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Mid Penn Bancorp Stock Performance

MPB traded down $0.34 on Tuesday, reaching $30.67. The company had a trading volume of 128,443 shares, compared to its average volume of 37,732. Mid Penn Bancorp, Inc. has a fifty-two week low of $19.20 and a fifty-two week high of $32.86. The stock has a market cap of $512.19 million, a P/E ratio of 10.54 and a beta of 0.57. The company's fifty day moving average is $30.01 and its 200 day moving average is $25.61. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.95 and a current ratio of 0.95.

Mid Penn Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.61%. Mid Penn Bancorp's dividend payout ratio (DPR) is currently 27.49%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MPB shares. Piper Sandler boosted 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 boosted their price objective on shares of Mid Penn Bancorp from $34.00 to $37.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 29th. Finally, StockNews.com lowered shares of Mid Penn Bancorp from a "buy" rating to a "hold" rating in a research note on Monday, October 14th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers boosted its holdings in Mid Penn Bancorp by 4.1% in the 2nd quarter. Rhumbline Advisers now owns 22,344 shares of the financial services provider's stock valued at $490,000 after purchasing an additional 877 shares during the period. ClariVest Asset Management LLC boosted its holdings in Mid Penn Bancorp by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 38,366 shares of the financial services provider's stock valued at $842,000 after purchasing an additional 1,072 shares during the period. McClarren Financial Advisors Inc. boosted its holdings in Mid Penn Bancorp by 5,438.1% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 1,163 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 1,142 shares during the period. Empowered Funds LLC boosted its holdings in Mid Penn Bancorp by 7.8% in the 1st quarter. Empowered Funds LLC now owns 31,268 shares of the financial services provider's stock valued at $626,000 after purchasing an additional 2,275 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Mid Penn Bancorp by 7.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 72,676 shares of the financial services provider's stock valued at $1,595,000 after purchasing an additional 5,153 shares during the period. Institutional investors and hedge funds own 43.11% of the company's stock.

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.