Royce & Associates LP Reduces Position in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Royce & Associates LP cut its holdings in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB - Free Report) by 9.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 186,617 shares of the financial services provider's stock after selling 18,371 shares during the period. Royce & Associates LP owned about 0.96% of Mid Penn Bancorp worth $5,382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC acquired a new position in Mid Penn Bancorp during the fourth quarter valued at $45,000. SG Americas Securities LLC lifted its position in Mid Penn Bancorp by 18.6% during the fourth quarter. SG Americas Securities LLC now owns 6,484 shares of the financial services provider's stock valued at $187,000 after purchasing an additional 1,018 shares during the period. Thrivent Financial for Lutherans acquired a new position in shares of Mid Penn Bancorp in the third quarter worth about $272,000. Franklin Resources Inc. acquired a new position in shares of Mid Penn Bancorp in the third quarter worth about $285,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Mid Penn Bancorp in the third quarter worth about $542,000. 43.11% of the stock is currently owned by institutional investors and hedge funds.

Mid Penn Bancorp Price Performance

Shares of Mid Penn Bancorp stock traded down $0.56 during trading hours on Friday, reaching $25.39. The stock had a trading volume of 484,864 shares, compared to its average volume of 51,385. The stock's 50 day moving average is $28.48 and its 200 day moving average is $29.71. The firm has a market capitalization of $491.45 million, a PE ratio of 8.76 and a beta of 0.53. Mid Penn Bancorp, Inc. has a twelve month low of $19.20 and a twelve month high of $33.87. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12.

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Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) last issued its quarterly earnings data 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 net margin of 15.99% and a return on equity of 8.43%. Equities analysts expect that Mid Penn Bancorp, Inc. will post 3 earnings per share for the current fiscal year.

Mid Penn Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, February 7th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.15%. Mid Penn Bancorp's dividend payout ratio (DPR) is currently 27.59%.

Insiders Place Their Bets

In related news, CEO Rory G. Ritrievi bought 3,050 shares of the business's stock in a transaction dated Monday, January 27th. The stock was acquired at an average price of $30.05 per share, with a total value of $91,652.50. Following the completion of the purchase, the chief executive officer now directly owns 7,385 shares of the company's stock, valued at approximately $221,919.25. This trade represents a 70.36 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Soto Matthew G. De bought 2,575 shares of the business's stock in a transaction dated 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 purchase, the director now directly owns 103,162 shares of the company's stock, valued at approximately $2,998,919.34. This represents a 2.56 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 9,007 shares of company stock worth $266,467. Company insiders own 10.70% of the company's stock.

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.