Mid Penn Bancorp (NASDAQ:MPB) Share Price Crosses Below 200-Day Moving Average – Here’s What Happened

Mid Penn Bancorp (NASDAQ:MPB)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $27.82 and traded as low as $26.69. Mid Penn Bancorp shares last traded at $27.67, with a volume of 74,748 shares.

Mid Penn Bancorp Trading Up 2.5%

The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.96 and a current ratio of 0.96. The business has a 50-day simple moving average of $27.30 and a two-hundred day simple moving average of $27.82. The stock has a market cap of $535.69 million, a price-to-earnings ratio of 9.61 and a beta of 0.63.

Mid Penn Bancorp (NASDAQ:MPB) last released its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.10. Mid Penn Bancorp had a return on equity of 8.23% and a net margin of 16.36%. The firm had revenue of $47.75 million during the quarter, compared to the consensus estimate of $47.20 million. As a group, research analysts forecast that Mid Penn Bancorp will post 3 EPS for the current year.

Mid Penn Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 26th. Shareholders of record on Thursday, May 8th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend was Thursday, May 8th. Mid Penn Bancorp’s dividend payout ratio (DPR) is currently 27.78%.

Insider Activity

In other news, Director John E. Noone bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, April 28th. The stock was acquired at an average cost of $28.18 per share, with a total value of $28,180.00. Following the completion of the purchase, the director now owns 41,400 shares of the company’s stock, valued at $1,166,652. This represents a 2.48% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Soto Matthew G. De bought 3,560 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The stock was purchased at an average cost of $28.10 per share, with a total value of $100,036.00. Following the completion of the purchase, the director now directly owns 108,138 shares of the company’s stock, valued at $3,038,677.80. This represents a 3.40% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 8,705 shares of company stock valued at $240,769. 8.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Mid Penn Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in MPB. Wellington Management Group LLP lifted its holdings in Mid Penn Bancorp by 3.8% during the 1st quarter. Wellington Management Group LLP now owns 1,507,231 shares of the financial services provider’s stock valued at $39,052,000 after purchasing an additional 55,054 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Mid Penn Bancorp by 17.3% during the 4th quarter. Vanguard Group Inc. now owns 962,636 shares of the financial services provider’s stock valued at $27,762,000 after purchasing an additional 141,756 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Mid Penn Bancorp by 6.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 475,533 shares of the financial services provider’s stock valued at $13,714,000 after purchasing an additional 29,400 shares during the last quarter. Banc Funds Co. LLC lifted its holdings in Mid Penn Bancorp by 13.8% during the 4th quarter. Banc Funds Co. LLC now owns 412,552 shares of the financial services provider’s stock valued at $11,898,000 after purchasing an additional 50,000 shares during the last quarter. Finally, FJ Capital Management LLC acquired a new stake in Mid Penn Bancorp during the 4th quarter valued at $11,243,000. 43.11% of the stock is owned by institutional investors.

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.