FJ Capital Management LLC Makes New $11.24 Million Investment in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

FJ Capital Management LLC purchased a new position in Mid Penn Bancorp, Inc. (NASDAQ:MPB) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 389,845 shares of the financial services provider’s stock, valued at approximately $11,243,000. Mid Penn Bancorp makes up about 1.3% of FJ Capital Management LLC’s investment portfolio, making the stock its 27th biggest holding. FJ Capital Management LLC owned about 2.01% of Mid Penn Bancorp as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wellington Management Group LLP boosted its stake in Mid Penn Bancorp by 127.4% in the 4th quarter. Wellington Management Group LLP now owns 1,452,177 shares of the financial services provider’s stock worth $41,881,000 after purchasing an additional 813,583 shares in the last quarter. Vanguard Group Inc. raised its stake 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 buying 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. Boston Partners bought a new position in shares of Mid Penn Bancorp in the 4th quarter worth approximately $2,630,000. Finally, North Reef Capital Management LP purchased a new stake in shares of Mid Penn Bancorp in the 4th quarter worth $2,336,000. Hedge funds and other institutional investors own 43.11% of the company’s stock.

Insider Buying and Selling at Mid Penn Bancorp

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 purchased at an average cost of $28.18 per share, for a total transaction of $28,180.00. Following the purchase, the director now directly owns 41,400 shares in the company, valued at approximately $1,166,652. This trade represents a 2.48 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Rory G. Ritrievi acquired 3,365 shares of the company’s stock in a transaction on Friday, February 14th. The stock was acquired at an average cost of $29.56 per share, for a total transaction of $99,469.40. Following the completion of the acquisition, the chief executive officer now owns 10,750 shares of the company’s stock, valued at $317,770. This trade represents a 45.57 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 4,385 shares of company stock worth $128,168 over the last three months. Corporate insiders own 8.10% of the company’s stock.

Mid Penn Bancorp Stock Down 0.0 %

Shares of MPB stock opened at $28.88 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.95 and a quick ratio of 0.94. Mid Penn Bancorp, Inc. has a one year low of $20.03 and a one year high of $33.87. The company’s fifty day moving average price is $26.34 and its 200-day moving average price is $28.90. The company has a market capitalization of $558.94 million, a price-to-earnings ratio of 9.96 and a beta of 0.65.

Mid Penn Bancorp (NASDAQ:MPB) last issued its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.10. The business had revenue of $47.75 million for the quarter, compared to analysts’ expectations of $47.20 million. Mid Penn Bancorp had a return on equity of 8.43% and a net margin of 15.99%. Sell-side analysts expect that Mid Penn Bancorp, Inc. will post 3 EPS for the current fiscal year.

Mid Penn Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 26th. Stockholders of record on Thursday, May 8th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Thursday, May 8th. Mid Penn Bancorp’s dividend payout ratio is currently 27.78%.

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.