Wellington Management Group LLP Buys 55,054 Shares of Mid Penn Bancorp $MPB

Wellington Management Group LLP boosted its stake in Mid Penn Bancorp (NASDAQ:MPB) by 3.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,507,231 shares of the financial services provider’s stock after acquiring an additional 55,054 shares during the period. Wellington Management Group LLP owned 7.79% of Mid Penn Bancorp worth $39,052,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Dimensional Fund Advisors LP raised its position in shares of Mid Penn Bancorp by 6.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 475,533 shares of the financial services provider’s stock valued at $13,714,000 after purchasing an additional 29,400 shares during the period. FJ Capital Management LLC bought a new stake in shares of Mid Penn Bancorp in the fourth quarter valued at approximately $11,243,000. The Manufacturers Life Insurance Company raised its position in shares of Mid Penn Bancorp by 62.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 344,453 shares of the financial services provider’s stock valued at $9,934,000 after purchasing an additional 132,814 shares during the period. Emerald Mutual Fund Advisers Trust raised its position in shares of Mid Penn Bancorp by 44.6% in the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 156,338 shares of the financial services provider’s stock valued at $4,509,000 after purchasing an additional 48,250 shares during the period. Finally, Northern Trust Corp raised its position in shares of Mid Penn Bancorp by 10.1% in the fourth quarter. Northern Trust Corp now owns 142,242 shares of the financial services provider’s stock valued at $4,102,000 after purchasing an additional 13,044 shares during the period. Institutional investors own 43.11% of the company’s stock.

Mid Penn Bancorp Stock Performance

Mid Penn Bancorp stock opened at $29.90 on Friday. The firm’s 50 day simple moving average is $28.20 and its 200 day simple moving average is $27.50. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $687.67 million, a PE ratio of 12.51 and a beta of 0.63. Mid Penn Bancorp has a 1-year low of $22.50 and a 1-year high of $33.87.

Mid Penn Bancorp (NASDAQ:MPB) last posted its earnings results on Wednesday, July 23rd. The financial services provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $54.35 million for the quarter, compared to analyst estimates of $54.20 million. Mid Penn Bancorp had a net margin of 13.69% and a return on equity of 8.13%. As a group, analysts expect that Mid Penn Bancorp will post 3 earnings per share for the current fiscal year.

Mid Penn Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Friday, August 8th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, August 8th. Mid Penn Bancorp’s dividend payout ratio is 33.47%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lowered their price target on shares of Mid Penn Bancorp from $35.00 to $34.00 and set an “outperform” rating on the stock in a research report on Monday, August 4th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Mid Penn Bancorp presently has an average rating of “Buy” and an average price target of $34.50.

Mid Penn Bancorp 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.