Mid Penn Bancorp, Inc. (NASDAQ:MPB - Get Free Report) CEO Rory G. Ritrievi bought 3,365 shares of the business's stock in a transaction dated 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 purchase, the chief executive officer now owns 10,750 shares in the company, valued at approximately $317,770. This represents a 45.57 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Mid Penn Bancorp Price Performance
MPB stock traded up $0.16 during midday trading on Tuesday, hitting $29.74. 9,832 shares of the stock were exchanged, compared to its average volume of 64,232. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.94 and a current ratio of 0.95. The stock has a market cap of $575.67 million, a price-to-earnings ratio of 10.30 and a beta of 0.56. Mid Penn Bancorp, Inc. has a fifty-two week low of $19.20 and a fifty-two week high of $33.87. The stock's 50-day moving average price is $29.49 and its 200-day moving average price is $29.83.
Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.71. Mid Penn Bancorp had a return on equity of 8.43% and a net margin of 15.99%. Research analysts predict that Mid Penn Bancorp, Inc. will post 3 earnings per share for the current year.
Mid Penn Bancorp Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, February 7th will be given a $0.20 dividend. The ex-dividend date is Friday, February 7th. This represents a $0.80 annualized dividend and a dividend yield of 2.69%. Mid Penn Bancorp's dividend payout ratio is presently 27.59%.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on MPB shares. Keefe, Bruyette & Woods upped their price target 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. Piper Sandler upped their target price on shares of Mid Penn Bancorp from $31.00 to $35.00 and gave the stock an "overweight" rating in a research report on Monday, October 28th.
Check Out Our Latest Research Report on Mid Penn Bancorp
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in shares of Mid Penn Bancorp during the third quarter valued at $163,000. McClarren Financial Advisors Inc. boosted its stake in shares of Mid Penn Bancorp by 5,438.1% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 1,163 shares of the financial services provider's stock worth $34,000 after purchasing an additional 1,142 shares during the last quarter. Heritage Oak Wealth Advisors LLC purchased a new stake in shares of Mid Penn Bancorp during the third quarter worth about $378,000. Cornercap Investment Counsel Inc. purchased a new position in shares of Mid Penn Bancorp during the third quarter valued at approximately $263,000. Finally, Empowered Funds LLC boosted its position in Mid Penn Bancorp by 5.2% during the third quarter. Empowered Funds LLC now owns 35,350 shares of the financial services provider's stock worth $1,054,000 after acquiring an additional 1,742 shares during the last quarter. 43.11% of the stock is owned by hedge funds and other institutional investors.
About Mid Penn Bancorp
(
Get 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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