Mid Penn Bancorp (NASDAQ:MPB) Shares Gap Down - Time to Sell?

Mid Penn Bancorp, Inc. (NASDAQ:MPB - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $26.02, but opened at $25.43. Mid Penn Bancorp shares last traded at $26.08, with a volume of 15,869 shares trading hands.

Mid Penn Bancorp Stock Down 2.1 %

The firm's fifty day moving average is $28.23 and its two-hundred day moving average is $29.61. The firm has a market cap of $497.06 million, a price-to-earnings ratio of 8.86 and a beta of 0.53. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.95 and a quick ratio of 0.94.

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 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%. On average, sell-side analysts expect that Mid Penn Bancorp, Inc. will post 3 EPS for the current fiscal year.

Mid Penn Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, February 7th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date was Friday, February 7th. Mid Penn Bancorp's payout ratio is currently 27.59%.

Insider Transactions at Mid Penn Bancorp

In other Mid Penn Bancorp news, CEO Rory G. Ritrievi bought 3,365 shares of the company's stock in a transaction that occurred on Friday, February 14th. The shares were acquired at an average cost of $29.56 per share, for a total transaction of $99,469.40. Following the acquisition, the chief executive officer now directly owns 10,750 shares of the company's stock, valued at $317,770. This trade represents a 45.57 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Soto Matthew G. De bought 2,575 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The shares were acquired at an average cost of $29.07 per share, with a total value of $74,855.25. Following the completion of the purchase, the director now owns 103,162 shares of the company's stock, valued at approximately $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. In the last 90 days, insiders have bought 9,007 shares of company stock valued at $266,467. Corporate insiders own 10.70% of the company's stock.

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Hedge Funds Weigh In On Mid Penn Bancorp

A number of institutional investors have recently bought and sold shares of the stock. Stonebridge Financial Group LLC acquired a new position in shares of Mid Penn Bancorp in the fourth quarter worth about $45,000. Emerald Advisers LLC lifted its position in shares of Mid Penn Bancorp by 261.6% in the 4th quarter. Emerald Advisers LLC now owns 2,419 shares of the financial services provider's stock valued at $70,000 after acquiring an additional 1,750 shares in the last quarter. SG Americas Securities LLC boosted its stake in Mid Penn Bancorp by 18.6% in the 4th quarter. SG Americas Securities LLC now owns 6,484 shares of the financial services provider's stock worth $187,000 after purchasing an additional 1,018 shares during the period. Mystic Asset Management Inc. purchased a new position in Mid Penn Bancorp during the 4th quarter worth approximately $210,000. Finally, Semanteon Capital Management LP purchased a new position in Mid Penn Bancorp during the 4th quarter worth approximately $228,000. Hedge funds and other institutional investors own 43.11% of the company's stock.

Mid Penn Bancorp Company 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.