Mid Penn Bancorp, Inc. (NASDAQ:MPB) CEO Rory G. Ritrievi Buys 500 Shares

Mid Penn Bancorp, Inc. (NASDAQ:MPBGet Free Report) CEO Rory G. Ritrievi bought 500 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average price of $29.50 per share, for a total transaction of $14,750.00. Following the completion of the transaction, the chief executive officer now directly owns 49,529 shares of the company’s stock, valued at $1,461,105.50. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

Mid Penn Bancorp Trading Down 1.1 %

MPB opened at $30.67 on Wednesday. The stock has a market cap of $512.19 million, a price-to-earnings ratio of 10.54 and a beta of 0.57. The stock’s 50 day moving average price is $30.03 and its 200-day moving average price is $25.68. Mid Penn Bancorp, Inc. has a one year low of $19.20 and a one year high of $32.86. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.95 and a current ratio of 0.95.

Mid Penn Bancorp Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. McClarren Financial Advisors Inc. grew its stake in shares of Mid Penn Bancorp by 5,438.1% during the third quarter. McClarren Financial Advisors Inc. now owns 1,163 shares of the financial services provider’s stock valued at $34,000 after buying an additional 1,142 shares during the last quarter. SG Americas Securities LLC bought a new position in Mid Penn Bancorp in the third quarter worth approximately $163,000. New Wave Wealth Advisors LLC bought a new position in Mid Penn Bancorp in the second quarter worth approximately $278,000. Heritage Oak Wealth Advisors LLC bought a new position in Mid Penn Bancorp in the third quarter worth approximately $378,000. Finally, Squarepoint Ops LLC bought a new position in Mid Penn Bancorp in the second quarter worth approximately $282,000. Institutional investors own 43.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MPB shares. StockNews.com downgraded Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, October 14th. Keefe, Bruyette & Woods upped their price objective 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. Finally, Piper Sandler upped their price objective on Mid Penn Bancorp from $31.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, October 28th.

Get Our Latest Stock Analysis on MPB

Mid Penn Bancorp Company Profile

(Get Free Report)

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.

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