Mid Penn Bancorp (NASDAQ:MPB) Stock Crosses Above 200 Day Moving Average – Time to Sell?

Mid Penn Bancorp (NASDAQ:MPB) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $31.47 and traded as high as $34.32. Mid Penn Bancorp shares last traded at $33.14, with a volume of 83,898 shares changing hands.

Wall Street Analyst Weigh In

MPB has been the topic of a number of research analyst reports. Weiss Ratings raised shares of Mid Penn Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Wall Street Zen lowered shares of Mid Penn Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, January 24th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Mid Penn Bancorp has an average rating of “Buy” and a consensus price target of $37.00.

Mid Penn Bancorp Stock Down 3.3%

The stock has a market capitalization of $839.77 million, a PE ratio of 15.06 and a beta of 0.51. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.95 and a quick ratio of 0.94. The business’s fifty day moving average price is $32.64 and its two-hundred day moving average price is $31.47.

Mid Penn Bancorp (NASDAQ:MPB) last announced its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.16). Mid Penn Bancorp had a net margin of 13.95% and a return on equity of 8.55%. The company had revenue of $64.85 million for the quarter, compared to analysts’ expectations of $63.15 million.

Mid Penn Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, May 4th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Monday, May 4th. Mid Penn Bancorp’s dividend payout ratio is presently 40.00%.

Insider Buying and Selling at Mid Penn Bancorp

In other Mid Penn Bancorp news, Director Thomas R. Brugger purchased 818 shares of the stock in a transaction on Friday, March 6th. The shares were bought at an average cost of $31.35 per share, with a total value of $25,644.30. Following the completion of the acquisition, the director owned 6,110 shares in the company, valued at $191,548.50. This trade represents a 15.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Soto Matthew G. De purchased 972 shares of the stock in a transaction on Thursday, March 12th. The stock was acquired at an average cost of $30.85 per share, for a total transaction of $29,986.20. Following the completion of the acquisition, the director owned 4,299 shares of the company’s stock, valued at $132,624.15. The trade was a 29.22% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders acquired 3,408 shares of company stock worth $105,578. 7.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mid Penn Bancorp

Hedge funds have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue purchased a new stake in Mid Penn Bancorp in the third quarter valued at $26,000. Legal & General Group Plc boosted its stake in shares of Mid Penn Bancorp by 35.6% during the 2nd quarter. Legal & General Group Plc now owns 1,877 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 493 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Mid Penn Bancorp by 416.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,303 shares of the financial services provider’s stock worth $93,000 after acquiring an additional 2,664 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Mid Penn Bancorp during the 3rd quarter worth about $121,000. Finally, US Bancorp DE boosted its stake in shares of Mid Penn Bancorp by 4,471.3% during the 3rd quarter. US Bancorp DE now owns 4,937 shares of the financial services provider’s stock worth $141,000 after acquiring an additional 4,829 shares in the last quarter. 43.11% of the stock is owned by hedge funds and other institutional investors.

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.