Bridgeway Capital Management LLC Grows Stake in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Bridgeway Capital Management LLC boosted its holdings in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) by 2.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 63,666 shares of the financial services provider’s stock after buying an additional 1,713 shares during the period. Bridgeway Capital Management LLC’s holdings in Mid Penn Bancorp were worth $1,836,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in shares of Mid Penn Bancorp by 127.4% in the 4th quarter. Wellington Management Group LLP now owns 1,452,177 shares of the financial services provider’s stock valued at $41,881,000 after acquiring an additional 813,583 shares in the last quarter. Vanguard Group Inc. raised its stake in Mid Penn Bancorp by 17.3% in the fourth 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. The Manufacturers Life Insurance Company grew its stake in Mid Penn Bancorp by 62.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 344,453 shares of the financial services provider’s stock worth $9,934,000 after buying an additional 132,814 shares in the last quarter. Boston Partners bought a new position in shares of Mid Penn Bancorp in the 4th quarter worth $2,630,000. Finally, North Reef Capital Management LP bought a new position in shares of Mid Penn Bancorp in the 4th quarter worth $2,336,000. 43.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Mid Penn Bancorp

In related news, CEO Rory G. Ritrievi acquired 3,365 shares of the stock in a transaction on Friday, February 14th. The stock was purchased at an average price of $29.56 per share, for a total transaction of $99,469.40. Following the completion of the transaction, the chief executive officer now owns 10,750 shares of the company’s stock, valued at $317,770. This trade represents a 45.57 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John E. Noone acquired 1,000 shares of the company’s stock in a transaction dated Monday, April 28th. The shares were bought at an average cost of $28.18 per share, with a total value of $28,180.00. Following the purchase, the director now owns 41,400 shares of the company’s stock, valued at approximately $1,166,652. This trade represents a 2.48 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 4,385 shares of company stock worth $128,168. 8.10% of the stock is currently owned by insiders.

Mid Penn Bancorp Stock Performance

NASDAQ MPB opened at $28.17 on Friday. The company has a market capitalization of $545.26 million, a P/E ratio of 9.71 and a beta of 0.65. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.94 and a current ratio of 0.95. Mid Penn Bancorp, Inc. has a 52-week low of $20.03 and a 52-week high of $33.87. The company has a fifty day moving average of $26.35 and a 200-day moving average of $28.88.

Mid Penn Bancorp (NASDAQ:MPB) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.10. The firm had revenue of $47.75 million during the quarter, compared to analysts’ expectations of $47.20 million. Mid Penn Bancorp had a return on equity of 8.43% and a net margin of 15.99%. As a group, equities research analysts predict that Mid Penn Bancorp, Inc. will post 3 EPS for the current fiscal year.

Mid Penn Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 26th. Shareholders of record on Thursday, May 8th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend is Thursday, May 8th. Mid Penn Bancorp’s dividend payout ratio (DPR) is presently 27.78%.

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.