Vanguard Group Inc. Purchases 141,756 Shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Vanguard Group Inc. lifted its position in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB - Free Report) by 17.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 962,636 shares of the financial services provider's stock after acquiring an additional 141,756 shares during the quarter. Vanguard Group Inc. owned approximately 4.97% of Mid Penn Bancorp worth $27,762,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in MPB. Boston Partners bought a new stake in Mid Penn Bancorp in the 4th quarter valued at $2,630,000. Raymond James Financial Inc. bought a new position in shares of Mid Penn Bancorp during the fourth quarter worth about $1,289,000. American Century Companies Inc. raised its position in Mid Penn Bancorp by 14.5% in the 4th quarter. American Century Companies Inc. now owns 244,971 shares of the financial services provider's stock valued at $7,065,000 after buying an additional 30,965 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Mid Penn Bancorp by 159.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,151 shares of the financial services provider's stock valued at $1,360,000 after purchasing an additional 28,975 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Mid Penn Bancorp by 5.3% during the third quarter. Geode Capital Management LLC now owns 350,375 shares of the financial services provider's stock worth $10,454,000 after purchasing an additional 17,730 shares during the period. Institutional investors and hedge funds own 43.11% of the company's stock.

Insider Activity at Mid Penn Bancorp

In other Mid Penn Bancorp news, Director Soto Matthew G. De acquired 2,575 shares of the company's stock in a transaction on Tuesday, February 4th. The stock was acquired at an average price of $29.07 per share, for a total transaction of $74,855.25. Following the purchase, the director now directly owns 103,162 shares of the company's stock, valued at $2,998,919.34. This trade represents a 2.56 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Rory G. Ritrievi bought 3,050 shares of the firm's stock in a transaction on Monday, January 27th. The shares were acquired at an average price of $30.05 per share, for a total transaction of $91,652.50. Following the transaction, the chief executive officer now owns 7,385 shares in the company, valued at approximately $221,919.25. This represents a 70.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 9,010 shares of company stock worth $266,495. Insiders own 8.10% of the company's stock.

Mid Penn Bancorp Stock Performance

Shares of MPB traded up $0.14 during mid-day trading on Friday, reaching $25.39. The company's stock had a trading volume of 73,861 shares, compared to its average volume of 58,395. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12. Mid Penn Bancorp, Inc. has a 1-year low of $19.75 and a 1-year high of $33.87. The business has a 50-day simple moving average of $26.54 and a two-hundred day simple moving average of $29.07. The stock has a market cap of $491.45 million, a P/E ratio of 8.76 and a beta of 0.58.

Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share (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%. As a group, equities research analysts anticipate that Mid Penn Bancorp, Inc. will post 3 earnings per share for the current fiscal year.

Mid Penn Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, February 7th were issued a dividend of $0.20 per share. 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 27.59%.

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.