Short Interest in Mid Penn Bancorp, Inc. (NASDAQ:MPB) Grows By 405.2%

Mid Penn Bancorp, Inc. (NASDAQ:MPB) saw a significant growth in short interest in November. As of November 15th, there was short interest totalling 313,700 shares, a growth of 405.2% from the October 31st total of 62,100 shares. Based on an average trading volume of 51,400 shares, the short-interest ratio is presently 6.1 days.

Analyst Ratings Changes

Several analysts have issued reports on the stock. StockNews.com downgraded shares of Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, October 14th. Piper Sandler upped their target price on shares of Mid Penn Bancorp from $31.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Mid Penn Bancorp from $34.00 to $37.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th.

Mid Penn Bancorp Stock Down 0.1 %

Shares of MPB traded down $0.02 during trading on Friday, reaching $32.05. The company’s stock had a trading volume of 33,524 shares, compared to its average volume of 40,185. The company has a market cap of $532.67 million, a price-to-earnings ratio of 11.01 and a beta of 0.57. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.12. The company has a fifty day moving average of $30.99 and a two-hundred day moving average of $27.01. Mid Penn Bancorp has a twelve month low of $19.20 and a twelve month high of $33.87.

Mid Penn Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Friday, November 8th were issued a $0.20 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.80 annualized dividend and a yield of 2.50%. Mid Penn Bancorp’s dividend payout ratio is presently 27.49%.

Insider Transactions at Mid Penn Bancorp

In related news, Director Albert J. Evans bought 8,474 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was bought at an average price of $29.50 per share, with a total value of $249,983.00. Following the completion of the transaction, the director now directly owns 34,712 shares of the company’s stock, valued at approximately $1,024,004. This represents a 32.30 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 9,669 shares of company stock valued at $285,241 over the last 90 days. Corporate insiders own 10.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its holdings in shares of Mid Penn Bancorp by 14.3% in the 3rd quarter. Wellington Management Group LLP now owns 638,594 shares of the financial services provider’s stock valued at $19,049,000 after acquiring an additional 79,851 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in Mid Penn Bancorp during the third quarter valued at $1,626,000. Kennedy Capital Management LLC increased its stake in Mid Penn Bancorp by 126.4% during the first quarter. Kennedy Capital Management LLC now owns 96,086 shares of the financial services provider’s stock valued at $1,923,000 after purchasing an additional 53,650 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Mid Penn Bancorp during the third quarter worth $1,078,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Mid Penn Bancorp by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 418,963 shares of the financial services provider’s stock worth $9,195,000 after buying an additional 31,292 shares during the last quarter. 43.11% of the stock is currently owned by institutional investors.

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.