Emerald Mutual Fund Advisers Trust Has $3.22 Million Stock Holdings in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Emerald Mutual Fund Advisers Trust cut its position in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB - Free Report) by 16.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 108,088 shares of the financial services provider's stock after selling 20,669 shares during the period. Emerald Mutual Fund Advisers Trust owned about 0.65% of Mid Penn Bancorp worth $3,224,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Heritage Oak Wealth Advisors LLC bought a new position in Mid Penn Bancorp during the 3rd quarter valued at about $378,000. McClarren Financial Advisors Inc. increased its position in Mid Penn Bancorp by 5,438.1% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 1,163 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 1,142 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Mid Penn Bancorp in the 3rd quarter valued at about $163,000. New Wave Wealth Advisors LLC acquired a new stake in Mid Penn Bancorp in the 2nd quarter valued at about $278,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Mid Penn Bancorp during the 2nd quarter worth approximately $282,000. 43.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Piper Sandler lifted their target price on Mid Penn Bancorp from $31.00 to $35.00 and gave the stock an "overweight" rating in a report on Monday, October 28th. StockNews.com downgraded Mid Penn Bancorp from a "buy" rating to a "hold" rating in a report on Monday, October 14th. Finally, Keefe, Bruyette & Woods increased their price target on Mid Penn Bancorp from $34.00 to $37.00 and gave the stock an "outperform" rating in a report on Tuesday, October 29th.

Mid Penn Bancorp Stock Up 1.6 %

NASDAQ:MPB traded up $0.50 during trading hours on Monday, reaching $31.01. 294,662 shares of the stock were exchanged, compared to its average volume of 37,307. The stock has a market cap of $517.74 million, a PE ratio of 10.47 and a beta of 0.57. Mid Penn Bancorp, Inc. has a twelve month low of $19.20 and a twelve month high of $32.86. The firm has a 50 day moving average of $29.99 and a 200 day moving average of $25.53. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.95 and a quick ratio of 0.95.

Mid Penn Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Friday, November 8th. Mid Penn Bancorp's dividend payout ratio is currently 27.49%.

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.