Mid Penn Bancorp, Inc. (NASDAQ:MPB) Director Buys $100,036.00 in Stock

Mid Penn Bancorp, Inc. (NASDAQ:MPB) Director Soto Matthew G. De purchased 3,560 shares of Mid Penn Bancorp stock in a transaction that occurred on Friday, May 16th. The stock was acquired at an average price of $28.10 per share, for a total transaction of $100,036.00. Following the transaction, the director now directly owns 108,138 shares of the company’s stock, valued at $3,038,677.80. The trade was a 3.40% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Mid Penn Bancorp Trading Down 0.7%

Shares of MPB opened at $28.24 on Wednesday. The company’s fifty day moving average is $26.66 and its 200 day moving average is $28.72. Mid Penn Bancorp, Inc. has a fifty-two week low of $20.03 and a fifty-two week high of $33.87. The stock has a market capitalization of $546.61 million, a PE ratio of 9.74 and a beta of 0.65. 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, April 23rd. The financial services provider reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.10. Mid Penn Bancorp had a net margin of 15.99% and a return on equity of 8.43%. The company had revenue of $47.75 million for the quarter, compared to analysts’ expectations of $47.20 million. Sell-side analysts expect that Mid Penn Bancorp, Inc. will post 3 earnings per share for the current fiscal year.

Mid Penn Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 26th. Shareholders of record on Thursday, May 8th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Thursday, May 8th. Mid Penn Bancorp’s dividend payout ratio (DPR) is 27.78%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MPB. Wellington Management Group LLP increased its position in Mid Penn Bancorp by 127.4% during the fourth quarter. Wellington Management Group LLP now owns 1,452,177 shares of the financial services provider’s stock valued at $41,881,000 after acquiring an additional 813,583 shares during the last quarter. FJ Capital Management LLC bought a new position in Mid Penn Bancorp during the fourth quarter valued at $11,243,000. Vanguard Group Inc. increased its position in Mid Penn Bancorp by 17.3% during the fourth quarter. Vanguard Group Inc. now owns 962,636 shares of the financial services provider’s stock valued at $27,762,000 after acquiring an additional 141,756 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Mid Penn Bancorp by 62.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 344,453 shares of the financial services provider’s stock valued at $9,934,000 after acquiring an additional 132,814 shares during the last quarter. Finally, Boston Partners bought a new position in Mid Penn Bancorp during the fourth quarter valued at $2,630,000. Institutional investors 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.