Mid Penn Bancorp, Inc. (NASDAQ:MPB) Director Buys $74,855.25 in Stock

Mid Penn Bancorp, Inc. (NASDAQ:MPB - Get Free Report) Director Soto Matthew G. De purchased 2,575 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The shares were bought at an average cost of $29.07 per share, with a total value of $74,855.25. Following the completion of the acquisition, the director now owns 103,162 shares of the company's stock, valued at approximately $2,998,919.34. This trade represents a 2.56 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Mid Penn Bancorp Price Performance

MPB traded down $0.50 on Friday, hitting $29.78. 55,556 shares of the company were exchanged, compared to its average volume of 71,313. Mid Penn Bancorp, Inc. has a fifty-two week low of $19.20 and a fifty-two week 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. The firm has a market capitalization of $576.42 million, a P/E ratio of 10.27 and a beta of 0.56. The business's fifty day moving average is $29.72 and its 200 day moving average is $29.76.

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 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%. As a group, sell-side analysts anticipate that Mid Penn Bancorp, Inc. will post 3 EPS for the current year.

Mid Penn Bancorp Dividend Announcement

The company also recently declared 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. This represents a $0.80 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Friday, February 7th. Mid Penn Bancorp's dividend payout ratio (DPR) is presently 27.59%.

Hedge Funds Weigh In On Mid Penn Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers grew its position in shares of Mid Penn Bancorp by 2.6% in the fourth quarter. Rhumbline Advisers now owns 24,386 shares of the financial services provider's stock valued at $703,000 after purchasing an additional 621 shares during the last quarter. SG Americas Securities LLC grew its holdings in Mid Penn Bancorp by 18.6% during the 4th quarter. SG Americas Securities LLC now owns 6,484 shares of the financial services provider's stock valued at $187,000 after buying an additional 1,018 shares during the last quarter. McClarren Financial Advisors Inc. increased its position in Mid Penn Bancorp by 5,438.1% during the third quarter. McClarren Financial Advisors Inc. now owns 1,163 shares of the financial services provider's stock worth $34,000 after buying an additional 1,142 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of Mid Penn Bancorp in the fourth quarter worth $45,000. Finally, Empowered Funds LLC raised its holdings in shares of Mid Penn Bancorp by 4.8% in the fourth quarter. Empowered Funds LLC now owns 37,063 shares of the financial services provider's stock worth $1,069,000 after acquiring an additional 1,713 shares during the last quarter. Institutional investors and hedge funds own 43.11% of the company's stock.

Wall Street Analyst Weigh In

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

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.