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

Mid Penn Bancorp, Inc. (NASDAQ:MPB) Director Soto Matthew G. De bought 3,560 shares of the firm’s stock in a transaction on Friday, May 16th. The stock was acquired at an average cost of $28.10 per share, with a total value of $100,036.00. Following the completion of the transaction, the director now directly owns 108,138 shares of the company’s stock, valued at approximately $3,038,677.80. This represents a 3.40% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Mid Penn Bancorp Stock Performance

Shares of Mid Penn Bancorp stock traded up $0.06 on Monday, reaching $28.20. The stock had a trading volume of 47,499 shares, compared to its average volume of 67,027. The stock has a market cap of $545.84 million, a P/E ratio of 9.72 and a beta of 0.65. Mid Penn Bancorp, Inc. has a fifty-two week low of $20.03 and a fifty-two week high of $33.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.94 and a current ratio of 0.95. The business’s 50-day moving average price is $26.55 and its two-hundred day moving average price is $28.74.

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, topping the consensus estimate of $0.62 by $0.10. The firm had revenue of $47.75 million for the quarter, compared to the consensus estimate of $47.20 million. Mid Penn Bancorp had a net margin of 15.99% and a return on equity of 8.43%. On average, sell-side analysts forecast that Mid Penn Bancorp, Inc. will post 3 EPS for the current year.

Mid Penn Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 26th. Investors of record on Thursday, May 8th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.84%. Mid Penn Bancorp’s payout ratio is currently 27.78%.

Institutional Investors Weigh In On Mid Penn Bancorp

A number of hedge funds have recently made changes to their positions in MPB. Wellington Management Group LLP lifted its position in shares of Mid Penn Bancorp by 3.8% during the first quarter. Wellington Management Group LLP now owns 1,507,231 shares of the financial services provider’s stock worth $39,052,000 after purchasing an additional 55,054 shares in the last quarter. Vanguard Group Inc. increased its stake in Mid Penn Bancorp by 17.3% in the fourth 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 in the last quarter. Dimensional Fund Advisors LP increased its stake in Mid Penn Bancorp by 6.6% in the fourth 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 in the last quarter. Banc Funds Co. LLC lifted its stake in Mid Penn Bancorp by 13.8% in the fourth quarter. Banc Funds Co. LLC now owns 412,552 shares of the financial services provider’s stock valued at $11,898,000 after buying an additional 50,000 shares in the last quarter. Finally, FJ Capital Management LLC bought a new position in Mid Penn Bancorp in the fourth quarter valued at approximately $11,243,000. Institutional investors and hedge funds 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.