Short Interest in Mid Penn Bancorp, Inc. (NASDAQ:MPB) Increases By 18.6%

Mid Penn Bancorp, Inc. (NASDAQ:MPB - Get Free Report) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 476,900 shares, an increase of 18.6% from the March 15th total of 402,100 shares. Based on an average daily trading volume, of 82,000 shares, the short-interest ratio is presently 5.8 days. Approximately 2.8% of the company's stock are sold short.

Insider Activity

In other Mid Penn Bancorp news, Director Soto Matthew G. De bought 2,575 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were bought at an average price of $29.07 per share, for a total transaction of $74,855.25. Following the acquisition, the director now directly 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Rory G. Ritrievi purchased 3,050 shares of the business's stock in a transaction on Monday, January 27th. The shares were bought at an average price of $30.05 per share, with a total value of $91,652.50. Following the purchase, the chief executive officer now directly owns 7,385 shares in the company, valued at approximately $221,919.25. The trade was a 70.36 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 9,010 shares of company stock worth $266,495 in the last three months. Company insiders own 8.10% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MPB. Stonebridge Financial Group LLC bought a new position in shares of Mid Penn Bancorp during the 4th quarter worth approximately $45,000. Emerald Advisers LLC lifted its holdings in Mid Penn Bancorp by 261.6% during the fourth quarter. Emerald Advisers LLC now owns 2,419 shares of the financial services provider's stock worth $70,000 after acquiring an additional 1,750 shares during the period. GAMMA Investing LLC lifted its holdings in Mid Penn Bancorp by 5,634.0% during the first quarter. GAMMA Investing LLC now owns 2,695 shares of the financial services provider's stock worth $70,000 after acquiring an additional 2,648 shares during the period. SG Americas Securities LLC boosted 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 worth $187,000 after purchasing an additional 1,018 shares during the last quarter. Finally, Mystic Asset Management Inc. bought a new position in Mid Penn Bancorp in the 4th quarter valued at $210,000. 43.11% of the stock is currently owned by hedge funds and other institutional investors.

Mid Penn Bancorp Stock Up 4.4 %

Shares of MPB stock traded up $1.18 during trading hours on Thursday, reaching $28.23. The company had a trading volume of 86,821 shares, compared to its average volume of 83,167. The company has a market cap of $546.42 million, a price-to-earnings ratio of 9.73 and a beta of 0.58. 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 has a 12 month low of $19.75 and a 12 month high of $33.87. The business has a fifty day simple moving average of $26.35 and a 200-day simple moving average of $29.01.

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 the consensus estimate 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 for the quarter, compared to analysts' expectations of $47.20 million. On average, research analysts expect that Mid Penn Bancorp will post 3 earnings per share for the current fiscal year.

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.