Mid Penn Bancorp, Inc. (NASDAQ:MPB) Shares Bought by Grace & White Inc. NY

Grace & White Inc. NY grew its stake in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) by 75.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,103 shares of the financial services provider’s stock after acquiring an additional 9,042 shares during the quarter. Grace & White Inc. NY owned about 0.13% of Mid Penn Bancorp worth $512,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Endeavour Capital Advisors Inc. increased its position in Mid Penn Bancorp by 2.0% during the 3rd quarter. Endeavour Capital Advisors Inc. now owns 110,187 shares of the financial services provider’s stock worth $2,218,000 after purchasing an additional 2,136 shares in the last quarter. Bank of New York Mellon Corp increased its position in Mid Penn Bancorp by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 92,565 shares of the financial services provider’s stock worth $1,863,000 after purchasing an additional 1,176 shares in the last quarter. Wharton Business Group LLC increased its position in Mid Penn Bancorp by 3.1% during the 3rd quarter. Wharton Business Group LLC now owns 78,331 shares of the financial services provider’s stock worth $1,577,000 after purchasing an additional 2,355 shares in the last quarter. Swiss National Bank increased its position in Mid Penn Bancorp by 8.2% during the 3rd quarter. Swiss National Bank now owns 31,517 shares of the financial services provider’s stock worth $634,000 after purchasing an additional 2,400 shares in the last quarter. Finally, Barclays PLC increased its position in Mid Penn Bancorp by 18.1% during the 3rd quarter. Barclays PLC now owns 23,154 shares of the financial services provider’s stock worth $466,000 after purchasing an additional 3,548 shares in the last quarter. Institutional investors and hedge funds own 43.11% of the company’s stock.

Insider Activity

In other Mid Penn Bancorp news, Director Soto Matthew G. De bought 1,185 shares of Mid Penn Bancorp stock in a transaction dated Thursday, February 1st. The stock was bought at an average cost of $21.13 per share, for a total transaction of $25,039.05. Following the purchase, the director now owns 67,863 shares in the company, valued at approximately $1,433,945.19. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Mid Penn Bancorp news, Director Theodore W. Mowery bought 2,000 shares of Mid Penn Bancorp stock in a transaction dated Friday, March 15th. The stock was bought at an average cost of $20.42 per share, for a total transaction of $40,840.00. Following the purchase, the director now owns 31,540 shares in the company, valued at approximately $644,046.80. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Soto Matthew G. De bought 1,185 shares of Mid Penn Bancorp stock in a transaction dated Thursday, February 1st. The shares were acquired at an average price of $21.13 per share, with a total value of $25,039.05. Following the completion of the purchase, the director now owns 67,863 shares in the company, valued at approximately $1,433,945.19. The disclosure for this purchase can be found here. In the last three months, insiders acquired 4,994 shares of company stock worth $103,875. 9.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. TheStreet downgraded shares of Mid Penn Bancorp from a “b” rating to a “c+” rating in a research report on Tuesday, February 13th. Piper Sandler decreased their price target on Mid Penn Bancorp from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, February 1st.

Mid Penn Bancorp Stock Up 1.3 %

NASDAQ MPB traded up $0.27 on Tuesday, reaching $20.68. The company had a trading volume of 23,368 shares, compared to its average volume of 28,316. The firm has a market capitalization of $342.67 million, a PE ratio of 9.07 and a beta of 0.57. Mid Penn Bancorp, Inc. has a 1 year low of $18.25 and a 1 year high of $25.92. The firm has a 50-day moving average of $20.27 and a 200-day moving average of $21.30. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.94 and a quick ratio of 0.94.

Mid Penn Bancorp (NASDAQ:MPB) last released its quarterly earnings results on Friday, January 26th. The financial services provider reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.14. The firm had revenue of $42.12 million during the quarter, compared to analysts’ expectations of $42.03 million. Mid Penn Bancorp had a return on equity of 8.37% and a net margin of 14.59%. On average, equities research analysts anticipate that Mid Penn Bancorp, Inc. will post 2.66 EPS for the current fiscal year.

Mid Penn Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Friday, February 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.87%. The ex-dividend date of this dividend was Thursday, February 8th. Mid Penn Bancorp’s dividend payout ratio (DPR) is currently 35.09%.

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.