Insider Buying: Mid Penn Bancorp, Inc. (NASDAQ:MPB) Director Acquires $74,855.25 in Stock

Mid Penn Bancorp, Inc. (NASDAQ:MPB) Director Soto Matthew G. De purchased 2,575 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were acquired at an average cost of $29.07 per share, with a total value of $74,855.25. Following the acquisition, the director now directly owns 103,162 shares in the company, valued at approximately $2,998,919.34. The trade was a 2.56 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Mid Penn Bancorp Trading Down 1.7 %

MPB stock opened at $29.78 on Friday. Mid Penn Bancorp, Inc. has a 52 week low of $19.20 and a 52 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 company’s 50-day simple moving average is $29.77 and its 200 day simple moving average is $29.72. The company has a market capitalization of $494.94 million, a PE ratio of 10.27 and a beta of 0.56.

Mid Penn Bancorp (NASDAQ:MPB) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 EPS for the quarter, hitting the consensus estimate of $0.71. Mid Penn Bancorp had a net margin of 15.99% and a return on equity of 8.43%. As a group, sell-side analysts anticipate that Mid Penn Bancorp, Inc. will post 3 earnings per share for the current year.

Mid Penn Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, February 7th will be issued a $0.20 dividend. The ex-dividend date is Friday, February 7th. This represents a $0.80 annualized dividend and a yield of 2.69%. Mid Penn Bancorp’s dividend payout ratio is presently 27.59%.

Institutional Trading of Mid Penn Bancorp

Large investors have recently modified their holdings of the stock. McClarren Financial Advisors Inc. lifted its position in Mid Penn Bancorp by 5,438.1% during the third quarter. McClarren Financial Advisors Inc. now owns 1,163 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 1,142 shares during the period. Stonebridge Financial Group LLC acquired a new position in shares of Mid Penn Bancorp in the 4th quarter valued at approximately $45,000. SG Americas Securities LLC acquired a new stake in shares of Mid Penn Bancorp during the 3rd quarter worth approximately $163,000. Cornercap Investment Counsel Inc. acquired a new stake in shares of Mid Penn Bancorp during the 3rd quarter worth approximately $263,000. Finally, Thrivent Financial for Lutherans bought a new position in Mid Penn Bancorp in the third quarter valued at approximately $272,000. 43.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MPB has been the subject of a number of research reports. Piper Sandler raised their target price on shares of Mid Penn Bancorp from $31.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Keefe, Bruyette & Woods raised their price objective on shares of Mid Penn Bancorp from $34.00 to $37.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Finally, StockNews.com downgraded Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, October 14th.

About Mid Penn Bancorp

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.