Shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 79,701 shares changed hands during mid-day trading, an increase of 100% from the previous session's volume of 39,810 shares.The stock last traded at $31.97 and had previously closed at $31.65.
Analyst Ratings Changes
A number of equities analysts have weighed in on MPB shares. Piper Sandler boosted their price target 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. Keefe, Bruyette & Woods increased their price target on Mid Penn Bancorp from $34.00 to $37.00 and gave the company an "outperform" rating in a research note on Tuesday, October 29th. Finally, StockNews.com cut shares of Mid Penn Bancorp from a "buy" rating to a "hold" rating in a research report on Monday, October 14th.
Get Our Latest Stock Report on Mid Penn Bancorp
Mid Penn Bancorp Trading Up 1.8 %
The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.94 and a current ratio of 0.95. The business has a 50 day moving average of $30.71 and a two-hundred day moving average of $26.56. The firm has a market capitalization of $535.66 million, a price-to-earnings ratio of 10.88 and a beta of 0.57.
Mid Penn Bancorp Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Friday, November 8th. Mid Penn Bancorp's payout ratio is currently 27.49%.
Insiders Place Their Bets
In related news, Director Albert J. Evans purchased 8,474 shares of the firm's stock in a transaction dated Friday, November 1st. The stock was bought at an average price of $29.50 per share, for a total transaction of $249,983.00. Following the purchase, the director now directly owns 34,712 shares in the company, valued at approximately $1,024,004. This trade represents a 32.30 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders bought 9,669 shares of company stock valued at $285,241. Corporate insiders own 10.70% of the company's stock.
Institutional Trading of Mid Penn Bancorp
Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Mid Penn Bancorp by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 688,363 shares of the financial services provider's stock valued at $13,774,000 after acquiring an additional 12,314 shares during the period. Kennedy Capital Management LLC raised its position in Mid Penn Bancorp by 126.4% during the first 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. Bank of New York Mellon Corp grew its stake in shares of Mid Penn Bancorp by 7.6% during the second quarter. Bank of New York Mellon Corp now owns 72,676 shares of the financial services provider's stock valued at $1,595,000 after buying an additional 5,153 shares during the last quarter. Rhumbline Advisers raised its holdings in Mid Penn Bancorp by 4.1% during the 2nd quarter. Rhumbline Advisers now owns 22,344 shares of the financial services provider's stock valued at $490,000 after buying an additional 877 shares during the last quarter. Finally, LSV Asset Management boosted its holdings in shares of Mid Penn Bancorp by 21.0% during the second quarter. LSV Asset Management now owns 156,059 shares of the financial services provider's stock worth $3,425,000 after purchasing an additional 27,098 shares during the period. 43.11% of the stock is currently owned by institutional investors.
Mid Penn Bancorp Company Profile
(
Get Free Report)
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.
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