Mid Penn Bancorp, Inc. (NASDAQ:MPB - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 56,351 shares changed hands during trading, an increase of 9% from the previous session's volume of 51,807 shares.The stock last traded at $25.77 and had previously closed at $26.25.
Mid Penn Bancorp Price Performance
The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.12. The firm has a market cap of $497.84 million, a price-to-earnings ratio of 8.87 and a beta of 0.53. The company's 50-day moving average price is $28.16 and its 200-day moving average price is $29.60.
Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.71. Mid Penn Bancorp had a return on equity of 8.43% and a net margin of 15.99%. On average, equities research analysts forecast that Mid Penn Bancorp, Inc. will post 3 EPS for the current year.
Mid Penn Bancorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, February 7th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend was Friday, February 7th. Mid Penn Bancorp's dividend payout ratio is presently 27.59%.
Insider Buying and Selling
In related news, CEO Rory G. Ritrievi acquired 3,365 shares of the business's stock in a transaction on Friday, February 14th. The shares were bought at an average price of $29.56 per share, with a total value of $99,469.40. Following the completion of the acquisition, the chief executive officer now owns 10,750 shares in the company, valued at $317,770. This trade represents a 45.57 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Soto Matthew G. De bought 2,575 shares of the stock in a transaction dated Tuesday, February 4th. The stock was bought at an average price of $29.07 per share, with a total value of $74,855.25. Following the acquisition, the director now owns 103,162 shares in the company, valued at approximately $2,998,919.34. This represents a 2.56 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 9,010 shares of company stock worth $266,495. Corporate insiders own 10.70% of the company's stock.
Hedge Funds Weigh In On Mid Penn Bancorp
Several large investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Mid Penn Bancorp by 4.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,565 shares of the financial services provider's stock valued at $247,000 after purchasing an additional 380 shares during the last quarter. Barclays PLC increased its position in Mid Penn Bancorp by 1.2% during the fourth quarter. Barclays PLC now owns 37,257 shares of the financial services provider's stock worth $1,074,000 after buying an additional 452 shares during the period. Rhumbline Advisers lifted its stake in Mid Penn Bancorp by 2.6% in the fourth quarter. Rhumbline Advisers now owns 24,386 shares of the financial services provider's stock valued at $703,000 after buying an additional 621 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Mid Penn Bancorp by 18.6% in the fourth quarter. SG Americas Securities LLC now owns 6,484 shares of the financial services provider's stock valued at $187,000 after acquiring an additional 1,018 shares during the period. Finally, Stonebridge Financial Group LLC purchased a new position in shares of Mid Penn Bancorp during the fourth quarter worth approximately $45,000. Institutional investors and hedge funds own 43.11% of the company's stock.
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.
See Also
Before you consider Mid Penn Bancorp, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Mid Penn Bancorp wasn't on the list.
While Mid Penn Bancorp currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
