Rory G. Ritrievi Buys 3,365 Shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) Stock

Mid Penn Bancorp, Inc. (NASDAQ:MPB) CEO Rory G. Ritrievi bought 3,365 shares of Mid Penn Bancorp stock in a transaction on Friday, February 14th. The shares were purchased at an average cost of $29.56 per share, with a total value of $99,469.40. Following the completion of the purchase, the chief executive officer now directly owns 10,750 shares in the company, valued at $317,770. This trade represents a 45.57 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Mid Penn Bancorp Stock Up 0.3 %

Mid Penn Bancorp stock opened at $29.58 on Friday. Mid Penn Bancorp, Inc. has a 52 week low of $19.20 and a 52 week high of $33.87. The stock has a market cap of $572.67 million, a price-to-earnings ratio of 10.20 and a beta of 0.56. The company’s 50-day moving average price is $29.52 and its two-hundred day moving average price is $29.82. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12.

Mid Penn Bancorp (NASDAQ:MPB) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.71 EPS for the quarter, meeting analysts’ consensus estimates of $0.71. Mid Penn Bancorp had a net margin of 15.99% and a return on equity of 8.43%. On average, analysts expect that Mid Penn Bancorp, Inc. will post 3 EPS for the current fiscal year.

Mid Penn Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, February 7th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, February 7th. Mid Penn Bancorp’s dividend payout ratio is presently 27.59%.

Analyst Upgrades and Downgrades

MPB has been the subject of several analyst reports. Piper Sandler boosted their price objective on Mid Penn Bancorp from $31.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Keefe, Bruyette & Woods boosted their price target on Mid Penn Bancorp from $34.00 to $37.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MPB. Wellington Management Group LLP raised its position in Mid Penn Bancorp by 127.4% in the fourth quarter. Wellington Management Group LLP now owns 1,452,177 shares of the financial services provider’s stock worth $41,881,000 after acquiring an additional 813,583 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Mid Penn Bancorp by 17.3% during the 4th quarter. Vanguard Group Inc. now owns 962,636 shares of the financial services provider’s stock valued at $27,762,000 after purchasing an additional 141,756 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Mid Penn Bancorp by 6.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 475,533 shares of the financial services provider’s stock worth $13,714,000 after purchasing an additional 29,400 shares during the last quarter. Banc Funds Co. LLC raised its holdings in shares of Mid Penn Bancorp by 13.8% in the 4th quarter. Banc Funds Co. LLC now owns 412,552 shares of the financial services provider’s stock worth $11,898,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Mid Penn Bancorp by 8.4% during the fourth quarter. Geode Capital Management LLC now owns 379,639 shares of the financial services provider’s stock valued at $10,952,000 after purchasing an additional 29,264 shares during the last quarter. Institutional investors own 43.11% of the company’s stock.

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.