Sei Investments Co. Buys 17,420 Shares of Mid Penn Bancorp $MPB

Sei Investments Co. lifted its position in Mid Penn Bancorp (NASDAQ:MPB) by 118.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,142 shares of the financial services provider’s stock after acquiring an additional 17,420 shares during the period. Sei Investments Co. owned approximately 0.13% of Mid Penn Bancorp worth $1,034,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Legal & General Group Plc increased its stake in Mid Penn Bancorp by 35.6% in the second quarter. Legal & General Group Plc now owns 1,877 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 493 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Mid Penn Bancorp by 416.9% during the second quarter. Tower Research Capital LLC TRC now owns 3,303 shares of the financial services provider’s stock worth $93,000 after purchasing an additional 2,664 shares in the last quarter. US Bancorp DE grew its holdings in shares of Mid Penn Bancorp by 4,471.3% in the 3rd quarter. US Bancorp DE now owns 4,937 shares of the financial services provider’s stock valued at $141,000 after buying an additional 4,829 shares during the period. Lazard Asset Management LLC grew its holdings in shares of Mid Penn Bancorp by 6.9% in the 2nd quarter. Lazard Asset Management LLC now owns 5,576 shares of the financial services provider’s stock valued at $156,000 after buying an additional 358 shares during the period. Finally, Stifel Financial Corp bought a new stake in shares of Mid Penn Bancorp in the 4th quarter valued at $201,000. Institutional investors own 43.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on MPB. Keefe, Bruyette & Woods lifted their target price on Mid Penn Bancorp from $37.00 to $41.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. Weiss Ratings raised Mid Penn Bancorp from a “hold (c+)” rating to a “buy (b)” rating in a research report on Tuesday. Zacks Research upgraded Mid Penn Bancorp to a “hold” rating in a report on Wednesday, July 1st. Wall Street Zen raised Mid Penn Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Finally, Raymond James Financial started coverage on shares of Mid Penn Bancorp in a report on Tuesday, June 30th. They set an “outperform” rating and a $38.00 target price on the stock. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $39.50.

Mid Penn Bancorp Trading Up 1.1%

Shares of MPB stock opened at $38.24 on Thursday. Mid Penn Bancorp has a 1 year low of $26.56 and a 1 year high of $39.15. The firm’s fifty day moving average price is $35.39 and its two-hundred day moving average price is $33.65. The firm has a market capitalization of $968.81 million, a P/E ratio of 13.51 and a beta of 0.47.

Mid Penn Bancorp (NASDAQ:MPB) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. The company had revenue of $75.87 million during the quarter, compared to the consensus estimate of $73.28 million. Mid Penn Bancorp had a net margin of 17.55% and a return on equity of 9.00%. As a group, equities research analysts forecast that Mid Penn Bancorp will post 3.33 EPS for the current fiscal year.

Mid Penn Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.4%. This is a boost from Mid Penn Bancorp’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, August 3rd. Mid Penn Bancorp’s payout ratio is currently 32.51%.

About Mid Penn Bancorp

Mid Penn Bancorp, Inc is a bank holding company headquartered in Hummelstown, Pennsylvania, serving as the parent of Mid Penn Bank. As a full-service financial institution, Mid Penn Bank operates a network of branches across central Pennsylvania, delivering retail and commercial banking services to individuals, families and businesses in its regional markets.

Through its banking subsidiary, the company offers a broad range of deposit products, including checking accounts, savings accounts and certificates of deposit, alongside consumer and commercial lending solutions.