Thrivent Financial for Lutherans Boosts Holdings in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Thrivent Financial for Lutherans boosted its stake in Mid Penn Bancorp, Inc. (NASDAQ:MPB - Free Report) by 115.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,654 shares of the financial services provider's stock after buying an additional 10,540 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.10% of Mid Penn Bancorp worth $567,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of MPB. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Mid Penn Bancorp during the 3rd quarter worth about $1,078,000. State Street Corp lifted its stake in shares of Mid Penn Bancorp by 4.9% during the third quarter. State Street Corp now owns 302,384 shares of the financial services provider's stock valued at $9,020,000 after buying an additional 14,148 shares during the period. Wellington Management Group LLP boosted its position in Mid Penn Bancorp by 14.3% during the third quarter. Wellington Management Group LLP now owns 638,594 shares of the financial services provider's stock worth $19,049,000 after acquiring an additional 79,851 shares during the last quarter. Jane Street Group LLC grew its stake in Mid Penn Bancorp by 72.7% in the 3rd quarter. Jane Street Group LLC now owns 22,145 shares of the financial services provider's stock worth $661,000 after acquiring an additional 9,324 shares during the period. Finally, Barclays PLC raised its holdings in Mid Penn Bancorp by 61.3% in the 3rd quarter. Barclays PLC now owns 36,805 shares of the financial services provider's stock valued at $1,098,000 after acquiring an additional 13,986 shares during the last quarter. Institutional investors and hedge funds own 43.11% of the company's stock.

Mid Penn Bancorp Trading Down 1.3 %

Shares of MPB stock traded down $0.32 during mid-day trading on Tuesday, hitting $24.36. 269,864 shares of the company's stock were exchanged, compared to its average volume of 57,108. The stock has a market cap of $471.51 million, a price-to-earnings ratio of 8.40 and a beta of 0.58. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.12. Mid Penn Bancorp, Inc. has a fifty-two week low of $19.20 and a fifty-two week high of $33.87. The stock has a 50-day simple moving average of $27.42 and a two-hundred day simple moving average of $29.35.

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

Mid Penn Bancorp Dividend Announcement

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 $0.20 dividend. The ex-dividend date was Friday, February 7th. This represents a $0.80 dividend on an annualized basis and a yield of 3.28%. Mid Penn Bancorp's payout ratio is 27.59%.

Insider Activity at Mid Penn Bancorp

In other news, CEO Rory G. Ritrievi purchased 3,365 shares of the stock in a transaction on Friday, February 14th. The stock was purchased at an average price of $29.56 per share, with a total value of $99,469.40. Following the completion of the transaction, the chief executive officer now owns 10,750 shares in the company, valued at approximately $317,770. The trade was a 45.57 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Soto Matthew G. De purchased 2,575 shares of the company's stock in a transaction on Tuesday, February 4th. The shares were purchased at an average price of $29.07 per share, with a total value of $74,855.25. Following the completion of the purchase, the director now directly owns 103,162 shares of the company's stock, valued at $2,998,919.34. The trade was a 2.56 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 9,010 shares of company stock worth $266,495. 10.70% of the stock is owned by company insiders.

Mid Penn Bancorp 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.