Grace & White Inc. NY Has $512,000 Stake in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Grace & White Inc. NY grew its position in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) by 75.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 21,103 shares of the financial services provider’s stock after acquiring an additional 9,042 shares during the period. Grace & White Inc. NY’s holdings in Mid Penn Bancorp were worth $512,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC lifted its holdings in Mid Penn Bancorp by 15.0% in the 4th quarter. SG Americas Securities LLC now owns 8,052 shares of the financial services provider’s stock worth $196,000 after purchasing an additional 1,050 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Mid Penn Bancorp by 1.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 92,565 shares of the financial services provider’s stock worth $1,863,000 after purchasing an additional 1,176 shares during the last quarter. Endeavour Capital Advisors Inc. lifted its holdings in Mid Penn Bancorp by 2.0% in the 3rd quarter. Endeavour Capital Advisors Inc. now owns 110,187 shares of the financial services provider’s stock worth $2,218,000 after purchasing an additional 2,136 shares during the last quarter. Wharton Business Group LLC lifted its holdings in Mid Penn Bancorp by 3.1% in the 3rd quarter. Wharton Business Group LLC now owns 78,331 shares of the financial services provider’s stock worth $1,577,000 after purchasing an additional 2,355 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in Mid Penn Bancorp by 8.2% in the 3rd quarter. Swiss National Bank now owns 31,517 shares of the financial services provider’s stock worth $634,000 after purchasing an additional 2,400 shares during the last quarter. 43.11% of the stock is currently owned by institutional investors and hedge funds.

Mid Penn Bancorp Stock Performance

Shares of MPB stock traded up $0.27 during trading hours on Tuesday, reaching $20.68. 23,368 shares of the company’s stock were exchanged, compared to its average volume of 28,316. Mid Penn Bancorp, Inc. has a fifty-two week low of $18.25 and a fifty-two week high of $25.92. The stock has a market capitalization of $342.67 million, a P/E ratio of 9.07 and a beta of 0.57. The business has a fifty day moving average price of $20.27 and a 200-day moving average price of $21.30. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.19.

Mid Penn Bancorp (NASDAQ:MPB) last announced its quarterly earnings results on Friday, January 26th. The financial services provider reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.14. Mid Penn Bancorp had a return on equity of 8.37% and a net margin of 14.59%. The firm had revenue of $42.12 million for the quarter, compared to analysts’ expectations of $42.03 million. Analysts predict that Mid Penn Bancorp, Inc. will post 2.66 EPS for the current fiscal year.

Mid Penn Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Friday, February 9th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date was Thursday, February 8th. Mid Penn Bancorp’s dividend payout ratio (DPR) is 35.09%.

Insider Buying and Selling at Mid Penn Bancorp

In related news, Director Soto Matthew G. De purchased 1,185 shares of the stock in a transaction on Thursday, February 1st. The shares were purchased at an average cost of $21.13 per share, for a total transaction of $25,039.05. Following the completion of the transaction, the director now directly owns 67,863 shares of the company’s stock, valued at approximately $1,433,945.19. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Mid Penn Bancorp news, Director Soto Matthew G. De bought 1,185 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were bought at an average price of $21.13 per share, for a total transaction of $25,039.05. Following the completion of the acquisition, the director now owns 67,863 shares of the company’s stock, valued at $1,433,945.19. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Theodore W. Mowery bought 2,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were acquired at an average price of $20.42 per share, for a total transaction of $40,840.00. Following the acquisition, the director now directly owns 31,540 shares of the company’s stock, valued at approximately $644,046.80. The disclosure for this purchase can be found here. Insiders have purchased 4,994 shares of company stock worth $103,875 over the last three months. Company insiders own 9.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MPB shares. TheStreet lowered Mid Penn Bancorp from a “b” rating to a “c+” rating in a report on Tuesday, February 13th. Piper Sandler cut their price target on Mid Penn Bancorp from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, February 1st.

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.