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

Mid Penn Bancorp, Inc. (NASDAQ:MPB) Director Soto Matthew G. De purchased 2,575 shares of the stock in a transaction on Tuesday, February 4th. The stock was acquired at an average price of $29.07 per share, for a total transaction of $74,855.25. Following the completion of the purchase, the director now directly owns 103,162 shares in the company, valued at approximately $2,998,919.34. The trade was a 2.56 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Mid Penn Bancorp Stock Up 1.2 %

Shares of MPB stock opened at $29.82 on Thursday. Mid Penn Bancorp, Inc. has a 52-week low of $19.20 and a 52-week high of $33.87. The stock has a market cap of $495.61 million, a price-to-earnings ratio of 10.28 and a beta of 0.56. The firm’s 50-day moving average is $29.85 and its 200-day moving average is $29.71. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.94 and a current ratio of 0.95.

Mid Penn Bancorp (NASDAQ:MPB) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.71. Mid Penn Bancorp had a return on equity of 8.43% and a net margin of 15.99%. Sell-side analysts predict that Mid Penn Bancorp, Inc. will post 3 EPS for the current year.

Mid Penn Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, February 7th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $0.80 annualized dividend and a dividend yield of 2.68%. Mid Penn Bancorp’s dividend payout ratio is currently 27.59%.

Institutional Trading of Mid Penn Bancorp

A number of hedge funds have recently modified their holdings of MPB. Wellington Management Group LLP lifted its holdings in Mid Penn Bancorp by 14.3% during the 3rd 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 during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Mid Penn Bancorp by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 418,963 shares of the financial services provider’s stock worth $9,195,000 after buying an additional 31,292 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Mid Penn Bancorp by 5.3% in the third quarter. Geode Capital Management LLC now owns 350,375 shares of the financial services provider’s stock valued at $10,454,000 after acquiring an additional 17,730 shares during the period. State Street Corp grew its stake in shares of Mid Penn Bancorp by 4.9% in the third quarter. State Street Corp now owns 302,384 shares of the financial services provider’s stock valued at $9,020,000 after acquiring an additional 14,148 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Mid Penn Bancorp by 19.7% during the fourth quarter. Bank of New York Mellon Corp now owns 74,669 shares of the financial services provider’s stock worth $2,153,000 after acquiring an additional 12,297 shares during the period. Institutional investors and hedge funds own 43.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently 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. Piper Sandler boosted 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. Finally, Keefe, Bruyette & Woods increased their price objective on Mid Penn Bancorp from $34.00 to $37.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th.

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.