Mid Penn Bancorp, Inc. (NASDAQ:MPB) Director Soto Matthew G. De Acquires 2,575 Shares

Mid Penn Bancorp, Inc. (NASDAQ:MPB) Director Soto Matthew G. De acquired 2,575 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was purchased at an average cost of $29.07 per share, for a total transaction of $74,855.25. Following the transaction, the director now owns 103,162 shares in the company, valued at approximately $2,998,919.34. The trade was a 2.56 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Mid Penn Bancorp Price Performance

NASDAQ:MPB opened at $30.28 on Friday. The stock has a 50 day moving average of $29.80 and a two-hundred day moving average of $29.71. Mid Penn Bancorp, Inc. has a 12 month low of $19.20 and a 12 month high of $33.87. The firm has a market cap of $503.25 million, a P/E ratio of 10.44 and a beta of 0.56. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12.

Mid Penn Bancorp (NASDAQ:MPB) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.71 EPS for the quarter, meeting the consensus estimate of $0.71. Mid Penn Bancorp had a return on equity of 8.43% and a net margin of 15.99%. On average, analysts expect that Mid Penn Bancorp, Inc. will post 3 earnings per share for the current fiscal year.

Mid Penn Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, February 7th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Friday, February 7th. Mid Penn Bancorp’s dividend payout ratio is currently 27.59%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Mid Penn Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the business. McClarren Financial Advisors Inc. raised 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 acquiring an additional 1,142 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in Mid Penn Bancorp in the 4th quarter valued at about $45,000. SG Americas Securities LLC acquired a new position in Mid Penn Bancorp in the third quarter valued at approximately $163,000. Cornercap Investment Counsel Inc. purchased a new position in shares of Mid Penn Bancorp during the 3rd quarter worth $263,000. Finally, Thrivent Financial for Lutherans acquired a new position in Mid Penn Bancorp in the third quarter valued at about $272,000. 43.11% of the stock is currently owned by institutional investors and hedge funds.

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.