Mid Penn Bancorp (NASDAQ:MPB) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Mid Penn Bancorp (NASDAQ:MPB) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $27.72 and traded as high as $29.42. Mid Penn Bancorp shares last traded at $29.16, with a volume of 70,212 shares changing hands.

Mid Penn Bancorp Stock Down 1.5%

The firm has a 50-day simple moving average of $27.82 and a 200 day simple moving average of $27.72. The company has a market capitalization of $564.54 million, a PE ratio of 10.13 and a beta of 0.64. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.96 and a quick ratio of 0.96.

Mid Penn Bancorp (NASDAQ:MPB) last announced its earnings results on Wednesday, April 23rd. The financial services provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.62 by $0.10. The business had revenue of $47.75 million for the quarter, compared to the consensus estimate of $47.20 million. Mid Penn Bancorp had a return on equity of 8.23% and a net margin of 16.36%. On average, research analysts predict that Mid Penn Bancorp will post 3 EPS for the current fiscal year.

Mid Penn Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 26th. Stockholders of record on Thursday, May 8th were paid a $0.20 dividend. The ex-dividend date was Thursday, May 8th. This represents a $0.80 annualized dividend and a dividend yield of 2.74%. Mid Penn Bancorp’s dividend payout ratio (DPR) is presently 27.78%.

Insiders Place Their Bets

In other news, Director John E. Noone acquired 1,000 shares of the business’s stock in a transaction on Friday, May 23rd. The shares were purchased at an average price of $26.60 per share, for a total transaction of $26,600.00. Following the acquisition, the director directly owned 43,400 shares of the company’s stock, valued at $1,154,440. This represents a 2.36% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Soto Matthew G. De bought 1,875 shares of the company’s stock in a transaction dated Friday, May 23rd. The shares were acquired at an average cost of $26.66 per share, for a total transaction of $49,987.50. Following the completion of the transaction, the director owned 110,013 shares of the company’s stock, valued at approximately $2,932,946.58. The trade was a 1.73% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 9,586 shares of company stock valued at $265,659. Company insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On Mid Penn Bancorp

A number of institutional investors have recently made changes to their positions in MPB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Mid Penn Bancorp by 4.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,565 shares of the financial services provider’s stock worth $247,000 after buying an additional 380 shares in the last quarter. Barclays PLC boosted its stake in Mid Penn Bancorp by 1.2% during the 4th quarter. Barclays PLC now owns 37,257 shares of the financial services provider’s stock valued at $1,074,000 after acquiring an additional 452 shares during the last quarter. MetLife Investment Management LLC grew its holdings in Mid Penn Bancorp by 11.9% during the 1st quarter. MetLife Investment Management LLC now owns 9,773 shares of the financial services provider’s stock worth $253,000 after acquiring an additional 1,043 shares in the last quarter. Corebridge Financial Inc. increased its position in shares of Mid Penn Bancorp by 15.1% in the 1st quarter. Corebridge Financial Inc. now owns 8,561 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 1,124 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its stake in shares of Mid Penn Bancorp by 2.8% in the 4th quarter. Bridgeway Capital Management LLC now owns 63,666 shares of the financial services provider’s stock valued at $1,836,000 after purchasing an additional 1,713 shares in the last quarter. 43.11% of the stock is owned by institutional investors and hedge funds.

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.