Insider Buying: Mid Penn Bancorp, Inc. (NASDAQ:MPB) CEO Buys 500 Shares of Stock

Mid Penn Bancorp, Inc. (NASDAQ:MPB) CEO Rory G. Ritrievi purchased 500 shares of Mid Penn Bancorp stock in a transaction dated Friday, November 1st. The stock was bought at an average price of $29.50 per share, with a total value of $14,750.00. Following the completion of the transaction, the chief executive officer now owns 49,529 shares of the company’s stock, valued at $1,461,105.50. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Mid Penn Bancorp Stock Performance

Shares of Mid Penn Bancorp stock traded down $0.35 during midday trading on Tuesday, hitting $30.66. The company had a trading volume of 48,772 shares, compared to its average volume of 37,360. Mid Penn Bancorp, Inc. has a 12-month low of $19.20 and a 12-month high of $32.86. The company has a fifty day simple moving average of $30.01 and a 200 day simple moving average of $25.61. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.12. The stock has a market cap of $512.02 million, a price-to-earnings ratio of 10.54 and a beta of 0.57.

Mid Penn Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.61%. Mid Penn Bancorp’s payout ratio is 27.49%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MPB shares. StockNews.com lowered shares of Mid Penn Bancorp from a “buy” rating to a “hold” rating in a report on Monday, October 14th. Keefe, Bruyette & Woods increased their price objective on shares of Mid Penn Bancorp from $34.00 to $37.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Finally, Piper Sandler raised their price target on shares of Mid Penn Bancorp from $31.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, October 28th.

Institutional Investors Weigh In On Mid Penn Bancorp

A number of institutional investors have recently added to or reduced their stakes in the stock. McClarren Financial Advisors Inc. lifted its holdings 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 in the last quarter. SG Americas Securities LLC acquired a new position in Mid Penn Bancorp in the 3rd quarter valued at about $163,000. New Wave Wealth Advisors LLC acquired a new position in shares of Mid Penn Bancorp during the second quarter worth about $278,000. Squarepoint Ops LLC acquired a new position in shares of Mid Penn Bancorp during the second quarter worth about $282,000. Finally, Heritage Oak Wealth Advisors LLC purchased a new stake in Mid Penn Bancorp during the third quarter worth approximately $378,000. Institutional investors and hedge funds own 43.11% of the company’s stock.

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.