Royce & Associates LP lessened its holdings in Mid Penn Bancorp, Inc. (NASDAQ:MPB - Free Report) by 18.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 204,988 shares of the financial services provider's stock after selling 44,988 shares during the period. Royce & Associates LP owned approximately 1.23% of Mid Penn Bancorp worth $6,115,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of MPB. McClarren Financial Advisors Inc. lifted 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 purchasing an additional 1,142 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Mid Penn Bancorp in the 3rd quarter worth about $163,000. Cornercap Investment Counsel Inc. bought a new stake in Mid Penn Bancorp during the 3rd quarter worth about $263,000. New Wave Wealth Advisors LLC acquired a new stake in shares of Mid Penn Bancorp in the 2nd quarter valued at approximately $278,000. Finally, Squarepoint Ops LLC bought a new position 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 and hedge funds.
Mid Penn Bancorp Trading Down 0.2 %
Mid Penn Bancorp stock traded down $0.07 during mid-day trading on Monday, hitting $31.55. The company's stock had a trading volume of 48,551 shares, compared to its average volume of 39,714. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12. The stock's fifty day moving average is $30.48 and its two-hundred day moving average is $26.34. Mid Penn Bancorp, Inc. has a 1 year low of $19.20 and a 1 year high of $33.23. The firm has a market capitalization of $524.36 million, a PE ratio of 10.87 and a beta of 0.57.
Mid Penn Bancorp Dividend Announcement
The company also recently disclosed 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. The ex-dividend date is Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.54%. Mid Penn Bancorp's payout ratio is currently 27.49%.
Insider Buying and Selling
In other Mid Penn Bancorp news, Director Albert J. Evans bought 8,474 shares of Mid Penn Bancorp stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average cost of $29.50 per share, for a total transaction of $249,983.00. Following the completion of the acquisition, the director now owns 34,712 shares of the company's stock, valued at approximately $1,024,004. This represents a 32.30 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased 9,669 shares of company stock worth $285,241 in the last ninety days. Insiders own 10.70% of the company's stock.
Analyst Ratings Changes
Several analysts have recently weighed in on the company. StockNews.com cut Mid Penn Bancorp from a "buy" rating to a "hold" rating in a report on Monday, October 14th. Keefe, Bruyette & Woods upped their price target on Mid Penn Bancorp from $34.00 to $37.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 29th. Finally, Piper Sandler increased their target price on Mid Penn Bancorp from $31.00 to $35.00 and gave the company an "overweight" rating in a report on Monday, October 28th.
Get Our Latest Stock Analysis on Mid Penn Bancorp
About Mid Penn Bancorp
(
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.
Further Reading
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
Click the link below 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.
