Mid Penn Bancorp, Inc. (NASDAQ:MPB) Director Acquires $199,607.40 in Stock

Mid Penn Bancorp, Inc. (NASDAQ:MPB) Director Soto Matthew G. De acquired 9,615 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was acquired at an average price of $20.76 per share, with a total value of $199,607.40. Following the completion of the transaction, the director now directly owns 79,190 shares in the company, valued at approximately $1,643,984.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Mid Penn Bancorp Trading Up 1.6 %

NASDAQ MPB opened at $21.32 on Friday. Mid Penn Bancorp, Inc. has a 52 week low of $18.25 and a 52 week high of $25.92. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 0.94. The stock’s 50 day moving average price is $20.23 and its two-hundred day moving average price is $21.31. The stock has a market capitalization of $353.27 million, a price-to-earnings ratio of 9.23 and a beta of 0.56.

Mid Penn Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 27th. Stockholders of record on Friday, May 10th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend is Thursday, May 9th. Mid Penn Bancorp’s dividend payout ratio is presently 34.63%.

Wall Street Analyst Weigh In

MPB has been the subject of several research analyst reports. StockNews.com upgraded shares of Mid Penn Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday. Piper Sandler reduced their target price on shares of Mid Penn Bancorp from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. Finally, TheStreet cut Mid Penn Bancorp from a “b” rating to a “c+” rating in a report on Tuesday, February 13th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MPB. BNP Paribas Financial Markets raised its holdings in Mid Penn Bancorp by 53.2% during the first quarter. BNP Paribas Financial Markets now owns 22,545 shares of the financial services provider’s stock worth $451,000 after acquiring an additional 7,832 shares in the last quarter. BHZ Capital Management LP increased its position in shares of Mid Penn Bancorp by 53.8% during the 4th quarter. BHZ Capital Management LP now owns 23,739 shares of the financial services provider’s stock worth $576,000 after purchasing an additional 8,307 shares during the last quarter. Wharton Business Group LLC raised its stake in shares of Mid Penn Bancorp by 3.2% during the 4th quarter. Wharton Business Group LLC now owns 80,841 shares of the financial services provider’s stock worth $1,963,000 after purchasing an additional 2,510 shares in the last quarter. Summit Trail Advisors LLC boosted its holdings in shares of Mid Penn Bancorp by 20.7% in the 4th quarter. Summit Trail Advisors LLC now owns 15,149 shares of the financial services provider’s stock valued at $368,000 after buying an additional 2,601 shares during the last quarter. Finally, LSV Asset Management grew its stake in shares of Mid Penn Bancorp by 1.3% in the fourth quarter. LSV Asset Management now owns 116,078 shares of the financial services provider’s stock valued at $2,818,000 after buying an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 43.11% of the company’s stock.

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.