Soto Matthew De Purchases 1,525 Shares of Mid Penn Bancorp (NASDAQ:MPB) Stock

Mid Penn Bancorp (NASDAQ:MPB) Director Soto Matthew De bought 1,525 shares of the stock in a transaction on Monday, May 4th. The shares were bought at an average price of $32.75 per share, for a total transaction of $49,943.75. Following the completion of the transaction, the director directly owned 118,696 shares of the company’s stock, valued at $3,887,294. This trade represents a 1.30% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Mid Penn Bancorp Price Performance

MPB traded up $0.55 on Tuesday, hitting $33.29. 56,256 shares of the company were exchanged, compared to its average volume of 143,861. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.94 and a current ratio of 0.95. The business’s fifty day moving average is $32.63 and its 200 day moving average is $31.53. Mid Penn Bancorp has a fifty-two week low of $25.82 and a fifty-two week high of $35.22. The firm has a market capitalization of $843.57 million, a P/E ratio of 15.13 and a beta of 0.49.

Mid Penn Bancorp (NASDAQ:MPB) last issued its earnings results on Tuesday, April 21st. The financial services provider reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.16). The company had revenue of $64.85 million for the quarter, compared to analyst estimates of $63.15 million. Mid Penn Bancorp had a return on equity of 8.55% and a net margin of 13.95%.

Mid Penn Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, May 4th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Monday, May 4th. Mid Penn Bancorp’s dividend payout ratio is presently 40.00%.

Institutional Investors Weigh In On Mid Penn Bancorp

Hedge funds have recently modified their holdings of the company. Deprince Race & Zollo Inc. boosted its stake in shares of Mid Penn Bancorp by 18.4% during the 4th quarter. Deprince Race & Zollo Inc. now owns 141,692 shares of the financial services provider’s stock worth $4,395,000 after purchasing an additional 22,000 shares during the last quarter. Rafferty Asset Management LLC acquired a new stake in shares of Mid Penn Bancorp during the 3rd quarter worth about $473,000. Wilmington Savings Fund Society FSB boosted its stake in shares of Mid Penn Bancorp by 9.2% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 47,400 shares of the financial services provider’s stock worth $1,470,000 after purchasing an additional 4,000 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of Mid Penn Bancorp by 230.6% during the 4th quarter. Los Angeles Capital Management LLC now owns 29,175 shares of the financial services provider’s stock worth $840,000 after purchasing an additional 20,350 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Mid Penn Bancorp by 19.5% during the 2nd quarter. Rhumbline Advisers now owns 28,696 shares of the financial services provider’s stock worth $809,000 after purchasing an additional 4,677 shares during the last quarter. 43.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MPB. 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 cut shares of Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, January 24th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target 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.