Martingale Asset Management L P Has $1.27 Million Stock Holdings in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Martingale Asset Management L P boosted its position in Mid Penn Bancorp, Inc. (NASDAQ:MPB) by 12.0% during the third quarter, Holdings Channel reports. The institutional investor owned 42,502 shares of the financial services provider’s stock after purchasing an additional 4,550 shares during the quarter. Martingale Asset Management L P’s holdings in Mid Penn Bancorp were worth $1,268,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. De Lisle Partners LLP raised its position in Mid Penn Bancorp by 14.6% in the 3rd quarter. De Lisle Partners LLP now owns 61,263 shares of the financial services provider’s stock valued at $1,826,000 after buying an additional 7,787 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Mid Penn Bancorp in the 3rd quarter valued at approximately $542,000. Segall Bryant & Hamill LLC acquired a new stake in Mid Penn Bancorp in the 3rd quarter valued at approximately $1,626,000. Thrivent Financial for Lutherans acquired a new stake in Mid Penn Bancorp in the 3rd quarter valued at approximately $272,000. Finally, Empowered Funds LLC raised its position in Mid Penn Bancorp by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 35,350 shares of the financial services provider’s stock valued at $1,054,000 after buying an additional 1,742 shares during the last quarter. Institutional investors and hedge funds own 43.11% of the company’s stock.

Mid Penn Bancorp Stock Down 0.1 %

MPB stock opened at $32.05 on Monday. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.12. Mid Penn Bancorp, Inc. has a twelve month low of $19.20 and a twelve month high of $33.87. The business has a 50 day moving average price of $30.99 and a two-hundred day moving average price of $27.08. The company has a market cap of $532.67 million, a price-to-earnings ratio of 11.01 and a beta of 0.57.

Mid Penn Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Friday, November 8th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, November 8th. This represents a $0.80 annualized dividend and a dividend yield of 2.50%. Mid Penn Bancorp’s dividend payout ratio is currently 27.49%.

Insider Transactions at Mid Penn Bancorp

In other Mid Penn Bancorp news, Director Albert J. Evans bought 8,474 shares of Mid Penn Bancorp stock in a transaction dated Friday, November 1st. The stock was bought at an average cost of $29.50 per share, for a total transaction of $249,983.00. Following the purchase, the director now owns 34,712 shares of the company’s stock, valued at $1,024,004. The trade was a 32.30 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders acquired 9,669 shares of company stock worth $285,241. 10.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

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.