Renaissance Technologies LLC Boosts Holdings in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Renaissance Technologies LLC increased its position in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB - Free Report) by 533.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 46,182 shares of the financial services provider's stock after buying an additional 38,893 shares during the quarter. Renaissance Technologies LLC owned about 0.24% of Mid Penn Bancorp worth $1,332,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its stake in shares of Mid Penn Bancorp by 2.6% in the 4th quarter. Rhumbline Advisers now owns 24,386 shares of the financial services provider's stock valued at $703,000 after purchasing an additional 621 shares during the last quarter. SG Americas Securities LLC lifted its position in 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 buying an additional 1,018 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in Mid Penn Bancorp during the fourth quarter worth about $45,000. Empowered Funds LLC increased its position in shares of Mid Penn Bancorp by 4.8% during the fourth quarter. Empowered Funds LLC now owns 37,063 shares of the financial services provider's stock valued at $1,069,000 after acquiring an additional 1,713 shares during the last quarter. Finally, Emerald Advisers LLC raised its stake 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 during the period. 43.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Rory G. Ritrievi acquired 3,365 shares of the firm's stock in a transaction dated Friday, February 14th. The stock was acquired at an average price of $29.56 per share, for a total transaction of $99,469.40. Following the purchase, the chief executive officer now owns 10,750 shares of the company's stock, valued at $317,770. This represents a 45.57 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 purchased at an average price of $29.07 per share, for a total transaction of $74,855.25. Following the completion of the purchase, the director now directly owns 103,162 shares of the company's stock, valued at approximately $2,998,919.34. This trade represents a 2.56 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 5,960 shares of company stock valued at $174,843. 8.10% of the stock is currently owned by company insiders.

Mid Penn Bancorp Stock Performance

NASDAQ:MPB opened at $28.57 on Tuesday. Mid Penn Bancorp, Inc. has a fifty-two week low of $19.75 and a fifty-two week high of $33.87. 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 company has a 50 day moving average price of $26.26 and a 200 day moving average price of $28.99. The stock has a market capitalization of $553.00 million, a P/E ratio of 9.85 and a beta of 0.58.

Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.10. Mid Penn Bancorp had a return on equity of 8.43% and a net margin of 15.99%. The business had revenue of $47.75 million during the quarter, compared to analysts' expectations of $47.20 million. Equities research analysts forecast that Mid Penn Bancorp, Inc. will post 3 EPS for the current year.

Mid Penn Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 26th. Stockholders of record on Thursday, May 8th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $0.80 annualized dividend and a dividend yield of 2.80%. Mid Penn Bancorp's dividend payout ratio is presently 27.78%.

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.

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