Mid Penn Bancorp (NASDAQ:MPB) Sees Large Volume Increase – Here’s What Happened

Mid Penn Bancorp, Inc. (NASDAQ:MPB) shares saw strong trading volume on Friday . 56,351 shares were traded during mid-day trading, an increase of 9% from the previous session’s volume of 51,807 shares.The stock last traded at $25.77 and had previously closed at $26.25.

Mid Penn Bancorp Price Performance

The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12. The company has a 50 day simple moving average of $28.23 and a 200 day simple moving average of $29.61. The stock has a market cap of $497.06 million, a P/E ratio of 8.86 and a beta of 0.53.

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

Mid Penn Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, February 7th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend was Friday, February 7th. Mid Penn Bancorp’s dividend payout ratio is currently 27.59%.

Insider Buying and Selling

In other news, Director Soto Matthew G. De acquired 2,575 shares of the stock in a transaction dated Tuesday, February 4th. The shares were bought at an average cost of $29.07 per share, for a total transaction of $74,855.25. Following the purchase, the director now directly owns 103,162 shares of the company’s stock, valued at approximately $2,998,919.34. This trade represents a 2.56 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Rory G. Ritrievi bought 3,365 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average price 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. The trade was a 45.57 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 9,007 shares of company stock worth $266,467. Corporate insiders own 10.70% of the company’s stock.

Institutional Trading of Mid Penn Bancorp

A number of hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Mid Penn Bancorp by 4.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,565 shares of the financial services provider’s stock valued at $247,000 after purchasing an additional 380 shares during the last quarter. Barclays PLC lifted its stake in shares of Mid Penn Bancorp by 1.2% during the 4th quarter. Barclays PLC now owns 37,257 shares of the financial services provider’s stock worth $1,074,000 after buying an additional 452 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Mid Penn Bancorp by 2.6% during the 4th quarter. Rhumbline Advisers now owns 24,386 shares of the financial services provider’s stock worth $703,000 after buying an additional 621 shares during the period. SG Americas Securities LLC grew its stake in Mid Penn Bancorp by 18.6% in the 4th quarter. SG Americas Securities LLC now owns 6,484 shares of the financial services provider’s stock valued at $187,000 after buying an additional 1,018 shares during the last quarter. Finally, Stonebridge Financial Group LLC bought a new position in Mid Penn Bancorp in the 4th quarter valued at about $45,000. 43.11% of the stock is owned by institutional investors and hedge funds.

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.