Boston Partners Buys Shares of 91,199 Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Boston Partners purchased a new stake in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 91,199 shares of the financial services provider’s stock, valued at approximately $2,630,000. Boston Partners owned 0.47% of Mid Penn Bancorp at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Wellington Management Group LLP boosted its position in Mid Penn Bancorp by 14.3% during the third quarter. Wellington Management Group LLP now owns 638,594 shares of the financial services provider’s stock worth $19,049,000 after purchasing an additional 79,851 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of Mid Penn Bancorp during the 3rd quarter worth $1,626,000. Raymond James Financial Inc. acquired a new position in shares of Mid Penn Bancorp during the 4th quarter worth $1,289,000. Hotchkis & Wiley Capital Management LLC acquired a new stake in Mid Penn Bancorp in the 3rd quarter valued at about $1,078,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Mid Penn Bancorp by 159.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,151 shares of the financial services provider’s stock valued at $1,360,000 after acquiring an additional 28,975 shares in the last quarter. Institutional investors and hedge funds own 43.11% of the company’s stock.

Mid Penn Bancorp Stock Performance

Shares of MPB opened at $25.39 on Friday. Mid Penn Bancorp, Inc. has a 12-month low of $19.20 and a 12-month high of $33.87. The stock has a market cap of $491.45 million, a P/E ratio of 8.76 and a beta of 0.53. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12. The company has a 50-day moving average of $28.48 and a two-hundred day moving average of $29.71.

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

Mid Penn Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, February 7th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend was Friday, February 7th. Mid Penn Bancorp’s payout ratio is currently 27.59%.

Insider Buying and Selling

In other news, CEO Rory G. Ritrievi bought 3,365 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were purchased at an average price of $29.56 per share, for a total transaction of $99,469.40. Following the completion of the transaction, the chief executive officer now owns 10,750 shares in the company, valued at $317,770. The trade was a 45.57 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Soto Matthew G. De purchased 2,575 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was acquired at an average price of $29.07 per share, with a total value of $74,855.25. Following the completion of the acquisition, the director now directly owns 103,162 shares in the company, valued at $2,998,919.34. The trade was a 2.56 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 9,007 shares of company stock worth $266,467. 10.70% of the stock is owned by corporate insiders.

About Mid Penn Bancorp

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.