Insider Buying: Mid Penn Bancorp (NASDAQ:MPB) Director Purchases $25,644.30 in Stock

Mid Penn Bancorp (NASDAQ:MPB) Director Thomas Brugger bought 818 shares of Mid Penn Bancorp stock in a transaction that occurred on Friday, March 6th. The shares were acquired at an average cost of $31.35 per share, with a total value of $25,644.30. Following the acquisition, the director owned 6,110 shares of the company’s stock, valued at $191,548.50. The trade was a 15.46% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Mid Penn Bancorp Price Performance

NASDAQ:MPB opened at $31.35 on Thursday. Mid Penn Bancorp has a one year low of $22.50 and a one year high of $35.22. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $722.62 million, a price-to-earnings ratio of 12.29 and a beta of 0.55. The firm’s fifty day moving average is $32.63 and its two-hundred day moving average is $30.75.

Mid Penn Bancorp (NASDAQ:MPB) last released its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. The business had revenue of $61.52 million during the quarter, compared to analyst estimates of $62.65 million. Mid Penn Bancorp had a return on equity of 8.84% and a net margin of 16.04%. Research analysts expect that Mid Penn Bancorp will post 3 EPS for the current year.

Mid Penn Bancorp Announces Dividend

The business also recently declared a special dividend, which was paid on Tuesday, February 17th. Investors of record on Friday, February 6th were given a dividend of $0.05 per share. This represents a yield of 254.0%. The ex-dividend date was Friday, February 6th. Mid Penn Bancorp’s dividend payout ratio (DPR) is currently 34.51%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MPB shares. Weiss Ratings raised shares of Mid Penn Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Wall Street Zen downgraded shares of Mid Penn Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, January 24th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Mid Penn Bancorp currently has an average rating of “Buy” and an average target price of $37.00.

Hedge Funds Weigh In On Mid Penn Bancorp

Large investors have recently bought and sold shares of the business. State of Alaska Department of Revenue acquired a new stake in Mid Penn Bancorp in the third quarter valued at approximately $26,000. Legal & General Group Plc lifted its position in shares of Mid Penn Bancorp by 35.6% during the 2nd quarter. Legal & General Group Plc now owns 1,877 shares of the financial services provider’s stock valued at $53,000 after buying an additional 493 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in Mid Penn Bancorp by 35.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,055 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 540 shares during the period. Tower Research Capital LLC TRC increased its holdings in Mid Penn Bancorp by 416.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,303 shares of the financial services provider’s stock worth $93,000 after acquiring an additional 2,664 shares in the last quarter. Finally, Palouse Capital Management Inc. acquired a new position in Mid Penn Bancorp during the second quarter worth $96,000. Institutional investors and hedge funds own 43.11% of the company’s stock.

About Mid Penn Bancorp

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.