Bridgeway Capital Management LLC Grows Position in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Bridgeway Capital Management LLC raised its stake in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,666 shares of the financial services provider’s stock after acquiring an additional 1,713 shares during the period. Bridgeway Capital Management LLC owned about 0.33% of Mid Penn Bancorp worth $1,836,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MPB. Stonebridge Financial Group LLC purchased a new position in Mid Penn Bancorp during the fourth quarter worth about $45,000. Emerald Advisers LLC boosted its stake in shares of Mid Penn Bancorp by 261.6% in the 4th quarter. Emerald Advisers LLC now owns 2,419 shares of the financial services provider’s stock worth $70,000 after buying an additional 1,750 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Mid Penn Bancorp by 18.6% in the fourth quarter. SG Americas Securities LLC now owns 6,484 shares of the financial services provider’s stock valued at $187,000 after acquiring an additional 1,018 shares in the last quarter. Mystic Asset Management Inc. purchased a new stake in shares of Mid Penn Bancorp during the fourth quarter valued at approximately $210,000. Finally, Semanteon Capital Management LP bought a new stake in Mid Penn Bancorp during the fourth quarter worth $228,000. 43.11% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Mid Penn Bancorp

In other Mid Penn Bancorp news, CEO Rory G. Ritrievi purchased 3,365 shares of the stock in a transaction dated Friday, February 14th. The shares were bought at an average price of $29.56 per share, with a total value of $99,469.40. Following the completion of the transaction, the chief executive officer now directly owns 10,750 shares in the company, valued at approximately $317,770. This trade represents a 45.57 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John E. Noone acquired 1,000 shares of the business’s stock in a transaction that occurred on Monday, April 28th. The stock was acquired at an average cost of $28.18 per share, with a total value of $28,180.00. Following the completion of the acquisition, the director now owns 41,400 shares in the company, valued at $1,166,652. This trade represents a 2.48 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 4,385 shares of company stock worth $128,168. Insiders own 8.10% of the company’s stock.

Mid Penn Bancorp Stock Down 2.7 %

Shares of NASDAQ:MPB opened at $28.17 on Friday. The company has a market capitalization of $545.26 million, a PE ratio of 9.71 and a beta of 0.65. Mid Penn Bancorp, Inc. has a 1 year low of $20.03 and a 1 year high of $33.87. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.95 and a quick ratio of 0.94. The business has a fifty day moving average price of $26.35 and a two-hundred day moving average price of $28.88.

Mid Penn Bancorp (NASDAQ:MPB) last posted its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.10. The company had revenue of $47.75 million during the quarter, compared to analyst estimates of $47.20 million. Mid Penn Bancorp had a net margin of 15.99% and a return on equity of 8.43%. Analysts forecast that Mid Penn Bancorp, Inc. will post 3 earnings per share for the current year.

Mid Penn Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 26th. Investors of record on Thursday, May 8th will be issued a $0.20 dividend. The ex-dividend date is Thursday, May 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.84%. Mid Penn Bancorp’s dividend payout ratio (DPR) is presently 27.78%.

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.