StockNews.com upgraded shares of Mid Penn Bancorp (NASDAQ:MPB – Free Report) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning.
A number of other research firms also recently commented on MPB. Piper Sandler dropped their price objective on Mid Penn Bancorp from $27.00 to $26.00 and set an overweight rating on the stock in a report on Thursday, February 1st. TheStreet lowered shares of Mid Penn Bancorp from a b rating to a c+ rating in a research note on Tuesday, February 13th.
Read Our Latest Research Report on MPB
Mid Penn Bancorp Price Performance
Mid Penn Bancorp Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, May 27th. Investors of record on Friday, May 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.80 annualized dividend and a yield of 3.75%. Mid Penn Bancorp’s dividend payout ratio (DPR) is 34.63%.
Insiders Place Their Bets
In other news, Director Theodore W. Mowery acquired 2,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were purchased at an average cost of $20.42 per share, for a total transaction of $40,840.00. Following the transaction, the director now owns 31,540 shares of the company’s stock, valued at $644,046.80. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other Mid Penn Bancorp news, Director Theodore W. Mowery purchased 2,000 shares of the stock in a transaction dated Friday, March 15th. The stock was bought at an average price of $20.42 per share, for a total transaction of $40,840.00. Following the transaction, the director now directly owns 31,540 shares in the company, valued at $644,046.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Soto Matthew G. De acquired 9,615 shares of Mid Penn Bancorp stock in a transaction on Monday, April 29th. The stock was acquired at an average cost of $20.76 per share, for a total transaction of $199,607.40. Following the completion of the purchase, the director now owns 79,190 shares of the company’s stock, valued at approximately $1,643,984.40. The disclosure for this purchase can be found here. Insiders have purchased a total of 13,223 shares of company stock valued at $273,830 in the last 90 days. 10.70% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Mid Penn Bancorp
Large investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in shares of Mid Penn Bancorp in the 3rd quarter valued at $141,000. Bank of New York Mellon Corp raised its position in shares of Mid Penn Bancorp by 1.3% during the third 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 period. Bailard Inc. acquired a new stake in shares of Mid Penn Bancorp during the third quarter worth about $371,000. Strs Ohio lifted its holdings in shares of Mid Penn Bancorp by 1,223.5% during the 3rd quarter. Strs Ohio now owns 22,500 shares of the financial services provider’s stock valued at $452,000 after purchasing an additional 20,800 shares in the last quarter. Finally, Wharton Business Group LLC grew its position in shares of 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 valued at $1,577,000 after purchasing an additional 2,355 shares during the period. Institutional investors own 43.11% of the company’s stock.
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.
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