Mid Penn Bancorp (NASDAQ:MPB) Director Soto Matthew De Buys 1,525 Shares

Mid Penn Bancorp (NASDAQ:MPB) Director Soto Matthew De acquired 1,525 shares of the business’s stock in a transaction on Monday, May 4th. The stock was acquired at an average cost of $32.75 per share, with a total value of $49,943.75. Following the acquisition, the director directly owned 118,696 shares in the company, valued at approximately $3,887,294. This trade represents a 1.30% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Mid Penn Bancorp Stock Performance

NASDAQ MPB opened at $33.30 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $843.82 million, a P/E ratio of 15.14 and a beta of 0.49. Mid Penn Bancorp has a 12-month low of $25.82 and a 12-month high of $35.22. The firm has a 50-day moving average price of $32.62 and a two-hundred day moving average price of $31.57.

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

Mid Penn Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, May 4th will be given a $0.22 dividend. The ex-dividend date is Monday, May 4th. This represents a $0.88 annualized dividend and a dividend yield of 2.6%. Mid Penn Bancorp’s payout ratio is presently 40.00%.

Institutional Investors Weigh In On Mid Penn Bancorp

A number of institutional investors have recently added to or reduced their stakes in MPB. State of Alaska Department of Revenue bought a new stake in Mid Penn Bancorp during the 3rd quarter worth approximately $26,000. Legal & General Group Plc grew its holdings in 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 during the last quarter. Tower Research Capital LLC TRC grew its holdings in 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 during the last quarter. SG Americas Securities LLC bought a new stake in Mid Penn Bancorp during the 3rd quarter worth approximately $121,000. Finally, US Bancorp DE grew its holdings in 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 during the last quarter. 43.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on MPB. Weiss Ratings upgraded shares of Mid Penn Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Wall Street Zen cut shares of Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, January 24th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $37.00.

Mid Penn Bancorp Company Profile

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.