Mid Penn Bancorp, Inc. (NASDAQ:MPB) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP raised its stake in Mid Penn Bancorp, Inc. (NASDAQ:MPB - Free Report) by 14.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 638,594 shares of the financial services provider's stock after buying an additional 79,851 shares during the period. Wellington Management Group LLP owned about 3.84% of Mid Penn Bancorp worth $19,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently modified their holdings of MPB. Dimensional Fund Advisors LP increased its position in Mid Penn Bancorp by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 418,963 shares of the financial services provider's stock valued at $9,195,000 after purchasing an additional 31,292 shares during the period. State Street Corp lifted its holdings in 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 worth $9,020,000 after buying an additional 14,148 shares during the period. LSV Asset Management boosted its position in Mid Penn Bancorp by 21.0% during the 2nd quarter. LSV Asset Management now owns 156,059 shares of the financial services provider's stock valued at $3,425,000 after acquiring an additional 27,098 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Mid Penn Bancorp by 8.8% in the 2nd quarter. American Century Companies Inc. now owns 144,397 shares of the financial services provider's stock valued at $3,170,000 after acquiring an additional 11,731 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Mid Penn Bancorp by 7.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 72,676 shares of the financial services provider's stock worth $1,595,000 after acquiring an additional 5,153 shares in the last quarter. Hedge funds and other institutional investors own 43.11% of the company's stock.

Insider Transactions at Mid Penn Bancorp

In related news, Director Albert J. Evans purchased 8,474 shares of the business's stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average price of $29.50 per share, with a total value of $249,983.00. Following the acquisition, the director now owns 34,712 shares in the company, valued at $1,024,004. The trade was a 32.30 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought a total of 9,678 shares of company stock valued at $285,527 in the last ninety days. 10.70% of the stock is currently owned by corporate insiders.

Mid Penn Bancorp Stock Performance

NASDAQ MPB traded down $0.28 on Friday, hitting $30.83. 35,779 shares of the company's stock traded hands, compared to its average volume of 40,977. The firm's 50-day moving average price is $31.40 and its two-hundred day moving average price is $27.68. The firm has a market capitalization of $512.39 million, a PE ratio of 10.59 and a beta of 0.56. 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 $19.20 and a 1-year high of $33.87.

Mid Penn Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Friday, November 8th were given a $0.20 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.59%. Mid Penn Bancorp's dividend payout ratio (DPR) is currently 27.49%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Keefe, Bruyette & Woods boosted their price objective 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. StockNews.com downgraded Mid Penn Bancorp from a "buy" rating to a "hold" rating in a research report on Monday, October 14th. Finally, Piper Sandler raised their price objective on Mid Penn Bancorp from $31.00 to $35.00 and gave the stock an "overweight" rating in a research report on Monday, October 28th.

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.