Mid Penn Bancorp, Inc. (NASDAQ:MPB) Director Buys $249,983.00 in Stock

by · The Markets Daily

Mid Penn Bancorp, Inc. (NASDAQ:MPB – Get Free Report) Director Albert J. Evans acquired 8,474 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were purchased 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 owns 34,712 shares of the company’s stock, valued at $1,024,004. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Mid Penn Bancorp Stock Performance

Shares of MPB stock opened at $32.05 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $535.24 million, a P/E ratio of 11.01 and a beta of 0.57. The firm’s 50 day moving average price is $30.14 and its 200-day moving average price is $25.77. Mid Penn Bancorp, Inc. has a one year low of $19.20 and a one year high of $32.86.

Mid Penn Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Friday, November 8th. Mid Penn Bancorp’s dividend payout ratio (DPR) is 27.49%.

Analyst Ratings Changes

MPB has been the subject of several analyst reports. Keefe, Bruyette & Woods increased their price target on shares of Mid Penn Bancorp from $34.00 to $37.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. StockNews.com cut Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, October 14th. Finally, Piper Sandler increased their price target on Mid Penn Bancorp from $31.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, October 28th.

Check Out Our Latest Analysis on MPB

Institutional Investors Weigh In On Mid Penn Bancorp

Institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets grew its holdings in shares of Mid Penn Bancorp by 53.2% in the first quarter. BNP Paribas Financial Markets now owns 22,545 shares of the financial services provider’s stock valued at $451,000 after purchasing an additional 7,832 shares in the last quarter. LSV Asset Management boosted its position in Mid Penn Bancorp by 11.1% in the 1st quarter. LSV Asset Management now owns 128,961 shares of the financial services provider’s stock valued at $2,581,000 after buying an additional 12,883 shares during the period. Empowered Funds LLC grew its stake in shares of Mid Penn Bancorp by 7.8% in the first quarter. Empowered Funds LLC now owns 31,268 shares of the financial services provider’s stock worth $626,000 after acquiring an additional 2,275 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Mid Penn Bancorp by 1.8% in the first quarter. Vanguard Group Inc. now owns 688,363 shares of the financial services provider’s stock worth $13,774,000 after acquiring an additional 12,314 shares in the last quarter. Finally, Kennedy Capital Management LLC raised its stake in shares of Mid Penn Bancorp by 126.4% in the first quarter. Kennedy Capital Management LLC now owns 96,086 shares of the financial services provider’s stock valued at $1,923,000 after acquiring an additional 53,650 shares in the last quarter. 43.11% of the stock is owned by institutional investors and hedge funds.

About Mid Penn Bancorp

(Get 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.

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