Summit Trail Advisors LLC Has $368,000 Stock Position in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Summit Trail Advisors LLC increased its holdings in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) by 20.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 15,149 shares of the financial services provider’s stock after purchasing an additional 2,601 shares during the quarter. Summit Trail Advisors LLC’s holdings in Mid Penn Bancorp were worth $368,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of MPB. SG Americas Securities LLC acquired a new stake in shares of Mid Penn Bancorp during the 3rd quarter worth $141,000. Trexquant Investment LP acquired a new position in Mid Penn Bancorp during the 3rd quarter worth approximately $348,000. Strs Ohio grew its holdings in shares of Mid Penn Bancorp by 1,223.5% during the third quarter. Strs Ohio now owns 22,500 shares of the financial services provider’s stock worth $452,000 after purchasing an additional 20,800 shares during the last quarter. Barclays PLC increased its stake in shares of Mid Penn Bancorp by 18.1% in the third quarter. Barclays PLC now owns 23,154 shares of the financial services provider’s stock valued at $466,000 after buying an additional 3,548 shares during the period. Finally, Grace & White Inc. NY raised its holdings in Mid Penn Bancorp by 75.0% in the 4th quarter. Grace & White Inc. NY now owns 21,103 shares of the financial services provider’s stock valued at $512,000 after buying an additional 9,042 shares during the last quarter. Institutional investors and hedge funds own 43.11% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MPB shares. StockNews.com raised shares of Mid Penn Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Piper Sandler lowered their target price on Mid Penn Bancorp from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, February 1st. Finally, TheStreet cut Mid Penn Bancorp from a “b” rating to a “c+” rating in a research note on Tuesday, February 13th.

Insiders Place Their Bets

In related news, Director Soto Matthew G. De bought 9,615 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were acquired at an average cost of $20.76 per share, with a total value of $199,607.40. Following the completion of the purchase, the director now directly owns 79,190 shares in the company, valued at $1,643,984.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Mid Penn Bancorp news, Director Theodore W. Mowery purchased 2,000 shares of Mid Penn Bancorp stock in a transaction that occurred on Friday, March 15th. The stock was acquired at an average price of $20.42 per share, with a total value of $40,840.00. Following the transaction, the director now owns 31,540 shares in the company, valued at approximately $644,046.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Soto Matthew G. De purchased 9,615 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were acquired at an average price of $20.76 per share, with a total value of $199,607.40. Following the purchase, the director now directly owns 79,190 shares in the company, valued at approximately $1,643,984.40. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 13,223 shares of company stock worth $273,830. Corporate insiders own 10.70% of the company’s stock.

Mid Penn Bancorp Price Performance

Shares of NASDAQ MPB opened at $21.19 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $351.20 million, a PE ratio of 9.17 and a beta of 0.56. The firm has a fifty day simple moving average of $20.27 and a 200 day simple moving average of $21.36. Mid Penn Bancorp, Inc. has a twelve month low of $18.32 and a twelve month high of $25.92.

Mid Penn Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 27th. Shareholders of record on Friday, May 10th will be issued a $0.20 dividend. The ex-dividend date is Thursday, May 9th. This represents a $0.80 dividend on an annualized basis and a yield of 3.78%. Mid Penn Bancorp’s payout ratio is currently 34.63%.

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.