Joan E. Dickinson Acquires 678 Shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) Stock

Mid Penn Bancorp, Inc. (NASDAQ:MPB - Get Free Report) insider Joan E. Dickinson bought 678 shares of the company's stock in a transaction on Friday, November 1st. The shares were acquired at an average price of $29.50 per share, with a total value of $20,001.00. Following the completion of the acquisition, the insider now directly owns 4,493 shares in the company, valued at $132,543.50. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Mid Penn Bancorp Trading Down 1.1 %

MPB traded down $0.34 during midday trading on Tuesday, hitting $30.67. The company's stock had a trading volume of 128,443 shares, compared to its average volume of 37,732. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.12. The firm has a market cap of $512.19 million, a P/E ratio of 10.54 and a beta of 0.57. The firm has a 50-day moving average price of $30.01 and a two-hundred day moving average price of $25.61. Mid Penn Bancorp, Inc. has a 52-week low of $19.20 and a 52-week high of $32.86.

Mid Penn Bancorp Dividend Announcement

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

Hedge Funds Weigh In On Mid Penn Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of MPB. Kennedy Capital Management LLC lifted its stake in shares of Mid Penn Bancorp by 126.4% in the 1st quarter. Kennedy Capital Management LLC now owns 96,086 shares of the financial services provider's stock valued at $1,923,000 after purchasing an additional 53,650 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Mid Penn Bancorp by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 418,963 shares of the financial services provider's stock worth $9,195,000 after buying an additional 31,292 shares during the period. LSV Asset Management grew its stake in shares of Mid Penn Bancorp by 21.0% in the second quarter. LSV Asset Management now owns 156,059 shares of the financial services provider's stock valued at $3,425,000 after buying an additional 27,098 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Mid Penn Bancorp during the 2nd quarter valued at about $282,000. Finally, New Wave Wealth Advisors LLC acquired a new position in Mid Penn Bancorp during the 2nd quarter worth approximately $278,000. 43.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.