Mystic Asset Management Inc. Invests $210,000 in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Mystic Asset Management Inc. purchased a new stake in Mid Penn Bancorp, Inc. (NASDAQ:MPB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,270 shares of the financial services provider’s stock, valued at approximately $210,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rhumbline Advisers raised its position in Mid Penn Bancorp by 2.6% in the fourth quarter. Rhumbline Advisers now owns 24,386 shares of the financial services provider’s stock valued at $703,000 after purchasing an additional 621 shares during the last quarter. SG Americas Securities LLC increased its holdings in Mid Penn Bancorp by 18.6% in the fourth quarter. SG Americas Securities LLC now owns 6,484 shares of the financial services provider’s stock worth $187,000 after purchasing an additional 1,018 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in Mid Penn Bancorp in the fourth quarter worth approximately $45,000. Empowered Funds LLC increased its holdings in Mid Penn Bancorp by 4.8% in the fourth quarter. Empowered Funds LLC now owns 37,063 shares of the financial services provider’s stock worth $1,069,000 after purchasing an additional 1,713 shares in the last quarter. Finally, Martingale Asset Management L P grew its stake in Mid Penn Bancorp by 12.0% in the third quarter. Martingale Asset Management L P now owns 42,502 shares of the financial services provider’s stock valued at $1,268,000 after acquiring an additional 4,550 shares during the period. 43.11% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Mid Penn Bancorp

In related news, Director Soto Matthew G. De acquired 2,575 shares of Mid Penn Bancorp stock in a transaction on Tuesday, February 4th. The shares were acquired at an average cost of $29.07 per share, with a total value of $74,855.25. Following the transaction, the director now owns 103,162 shares in the company, valued at $2,998,919.34. This trade represents a 2.56 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Rory G. Ritrievi purchased 3,050 shares of Mid Penn Bancorp stock in a transaction dated Monday, January 27th. The shares were acquired at an average cost of $30.05 per share, with a total value of $91,652.50. Following the transaction, the chief executive officer now directly owns 7,385 shares in the company, valued at approximately $221,919.25. The trade was a 70.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 9,007 shares of company stock worth $266,467 over the last three months. 10.70% of the stock is owned by insiders.

Mid Penn Bancorp Stock Up 0.5 %

Shares of NASDAQ:MPB opened at $26.04 on Wednesday. The stock has a market cap of $504.03 million, a price-to-earnings ratio of 8.98 and a beta of 0.53. 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 12-month low of $19.20 and a 12-month high of $33.87. The business’s 50 day moving average is $28.60 and its 200 day moving average is $29.80.

Mid Penn Bancorp (NASDAQ:MPB) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share (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, sell-side analysts forecast that Mid Penn Bancorp, Inc. will post 3 earnings per share for the current fiscal year.

Mid Penn Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, February 7th were given a $0.20 dividend. The ex-dividend date was Friday, February 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.07%. Mid Penn Bancorp’s dividend payout ratio (DPR) is currently 27.59%.

Mid Penn Bancorp 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.