Albert J. Evans Buys 8,474 Shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) Stock

Mid Penn Bancorp, Inc. (NASDAQ:MPB) Director Albert J. Evans bought 8,474 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was purchased at an average cost of $29.50 per share, for a total transaction of $249,983.00. Following the completion of the acquisition, the director now owns 34,712 shares in the company, valued at approximately $1,024,004. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Mid Penn Bancorp Trading Down 1.1 %

NASDAQ MPB traded down $0.35 on Tuesday, reaching $30.66. 48,772 shares of the company were exchanged, compared to its average volume of 37,360. Mid Penn Bancorp, Inc. has a fifty-two week low of $19.20 and a fifty-two week high of $32.86. The business’s fifty day moving average price is $30.01 and its 200 day moving average price is $25.61. The stock has a market capitalization of $512.02 million, a P/E ratio of 10.74 and a beta of 0.57. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.12.

Mid Penn Bancorp Dividend Announcement

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

Hedge Funds Weigh In On Mid Penn Bancorp

Hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers lifted its stake in shares of Mid Penn Bancorp by 4.1% during the second quarter. Rhumbline Advisers now owns 22,344 shares of the financial services provider’s stock worth $490,000 after purchasing an additional 877 shares in the last quarter. ClariVest Asset Management LLC boosted its position in shares of Mid Penn Bancorp by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 38,366 shares of the financial services provider’s stock worth $842,000 after buying an additional 1,072 shares during the period. McClarren Financial Advisors Inc. lifted its position in Mid Penn Bancorp by 5,438.1% in the third quarter. McClarren Financial Advisors Inc. now owns 1,163 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 1,142 shares during the period. Empowered Funds LLC lifted its position in shares of Mid Penn Bancorp by 7.8% during the 1st quarter. Empowered Funds LLC now owns 31,268 shares of the financial services provider’s stock valued at $626,000 after acquiring an additional 2,275 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Mid Penn Bancorp by 7.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 72,676 shares of the financial services provider’s stock valued at $1,595,000 after acquiring an additional 5,153 shares during the last quarter. Hedge funds and other institutional investors own 43.11% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on MPB shares. StockNews.com lowered shares of 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 stock an “outperform” rating in a research note on Tuesday, October 29th. Finally, Piper Sandler lifted their price target on Mid Penn Bancorp from $31.00 to $35.00 and gave the stock an “overweight” rating in a research report 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.