LSV Asset Management Sells 21,659 Shares of Mid Penn Bancorp $MPB

LSV Asset Management cut its holdings in Mid Penn Bancorp (NASDAQ:MPB) by 16.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 111,000 shares of the financial services provider’s stock after selling 21,659 shares during the quarter. LSV Asset Management’s holdings in Mid Penn Bancorp were worth $3,179,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC increased its stake in shares of Mid Penn Bancorp by 21.4% in the second quarter. Geode Capital Management LLC now owns 501,446 shares of the financial services provider’s stock valued at $14,144,000 after buying an additional 88,398 shares during the period. Alliancebernstein L.P. increased its holdings in Mid Penn Bancorp by 164.5% in the second quarter. Alliancebernstein L.P. now owns 396,782 shares of the financial services provider’s stock worth $11,189,000 after purchasing an additional 246,784 shares in the last quarter. American Century Companies Inc. boosted its stake in Mid Penn Bancorp by 2.7% during the second quarter. American Century Companies Inc. now owns 248,030 shares of the financial services provider’s stock worth $6,994,000 after acquiring an additional 6,464 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its position in Mid Penn Bancorp by 0.8% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 157,538 shares of the financial services provider’s stock valued at $4,443,000 after buying an additional 1,200 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in Mid Penn Bancorp in the 2nd quarter valued at $3,186,000. Institutional investors own 43.11% of the company’s stock.

Mid Penn Bancorp Stock Up 1.2%

Shares of MPB opened at $33.74 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.95 and a quick ratio of 0.95. Mid Penn Bancorp has a 1 year low of $22.50 and a 1 year high of $35.22. The stock has a 50 day simple moving average of $32.28 and a two-hundred day simple moving average of $30.16. The firm has a market cap of $777.71 million, a P/E ratio of 13.23 and a beta of 0.56.

Mid Penn Bancorp (NASDAQ:MPB) last posted its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.03. Mid Penn Bancorp had a net margin of 16.04% and a return on equity of 8.84%. The business had revenue of $61.52 million during the quarter, compared to the consensus estimate of $62.65 million. On average, analysts forecast that Mid Penn Bancorp will post 3 earnings per share for the current fiscal year.

Mid Penn Bancorp Announces Dividend

The business also recently declared a special dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Friday, February 6th will be paid a $0.05 dividend. This represents a yield of 254.0%. The ex-dividend date of this dividend is Friday, February 6th. Mid Penn Bancorp’s payout ratio is 34.51%.

Analyst Upgrades and Downgrades

MPB has been the topic of several analyst reports. Wall Street Zen cut Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, January 24th. Weiss Ratings restated a “hold (c+)” rating on shares of Mid Penn Bancorp in a research note on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods increased their target price on Mid Penn Bancorp from $34.00 to $37.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Mid Penn Bancorp Company Profile

Mid Penn Bancorp, Inc is a bank holding company headquartered in Hummelstown, Pennsylvania, serving as the parent of Mid Penn Bank. As a full-service financial institution, Mid Penn Bank operates a network of branches across central Pennsylvania, delivering retail and commercial banking services to individuals, families and businesses in its regional markets.

Through its banking subsidiary, the company offers a broad range of deposit products, including checking accounts, savings accounts and certificates of deposit, alongside consumer and commercial lending solutions.