Mid Penn Bancorp (NASDAQ:MPB) Stock Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Mid Penn Bancorp, Inc. (NASDAQ:MPB - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $28.08 and traded as high as $29.49. Mid Penn Bancorp shares last traded at $29.35, with a volume of 68,176 shares trading hands.

Wall Street Analysts Forecast Growth

A number of 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 report on Tuesday, October 29th. StockNews.com lowered Mid Penn Bancorp from a "buy" rating to a "hold" rating in a research note on Monday, October 14th. Finally, Piper Sandler raised their price objective on Mid Penn Bancorp from $31.00 to $35.00 and gave the company an "overweight" rating in a research note on Monday, October 28th.

Mid Penn Bancorp Stock Up 0.8 %

The company has a debt-to-equity ratio of 0.12, a current ratio of 0.95 and a quick ratio of 0.94. The firm's 50-day moving average price is $31.45 and its 200 day moving average price is $28.14. The firm has a market capitalization of $491.62 million, a price-to-earnings ratio of 10.16 and a beta of 0.56.

Mid Penn Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Friday, November 8th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend was Friday, November 8th. Mid Penn Bancorp's dividend payout ratio (DPR) is presently 27.49%.

Insider Transactions at Mid Penn Bancorp

In other news, Director Albert J. Evans acquired 8,474 shares of the business's stock in a transaction dated Friday, November 1st. The stock was acquired at an average price of $29.50 per share, with a total value of $249,983.00. Following the completion of the transaction, the director now directly owns 34,712 shares in the company, valued at approximately $1,024,004. This represents a 32.30 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders purchased a total of 9,678 shares of company stock valued at $285,527 over the last three months. 10.70% of the stock is currently owned by insiders.

Institutional Trading of Mid Penn Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its stake in shares of Mid Penn Bancorp by 14.3% during the 3rd quarter. Wellington Management Group LLP now owns 638,594 shares of the financial services provider's stock valued at $19,049,000 after buying an additional 79,851 shares during the period. Dimensional Fund Advisors LP increased its stake in Mid Penn Bancorp by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 418,963 shares of the financial services provider's stock worth $9,195,000 after acquiring an additional 31,292 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Mid Penn Bancorp by 5.3% in the 3rd quarter. Geode Capital Management LLC now owns 350,375 shares of the financial services provider's stock worth $10,454,000 after purchasing an additional 17,730 shares during the period. State Street Corp lifted its stake in shares of Mid Penn Bancorp by 4.9% in the 3rd quarter. State Street Corp now owns 302,384 shares of the financial services provider's stock valued at $9,020,000 after purchasing an additional 14,148 shares in the last quarter. Finally, LSV Asset Management grew its holdings in shares of 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 worth $3,425,000 after purchasing an additional 27,098 shares during the period. Hedge funds and other institutional investors own 43.11% of the company's stock.

About Mid Penn Bancorp

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.