North Reef Capital Management LP Invests $2.34 Million in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

North Reef Capital Management LP bought a new stake in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 81,000 shares of the financial services provider’s stock, valued at approximately $2,336,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Stonebridge Financial Group LLC purchased a new stake in shares of Mid Penn Bancorp in the 4th quarter worth about $45,000. Emerald Advisers LLC lifted its holdings in Mid Penn Bancorp by 261.6% in the fourth 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 period. SG Americas Securities LLC boosted its position in Mid Penn Bancorp by 18.6% during the 4th 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. bought a new stake in Mid Penn Bancorp during the 4th quarter valued at approximately $210,000. Finally, Semanteon Capital Management LP bought a new position in shares of Mid Penn Bancorp in the 4th quarter worth approximately $228,000. Institutional investors own 43.11% of the company’s stock.

Mid Penn Bancorp Trading Up 4.9 %

MPB opened at $28.38 on Friday. The stock has a market cap of $549.32 million, a PE ratio of 9.79 and a beta of 0.58. The business has a 50 day moving average of $26.32 and a 200-day moving average of $29.01. Mid Penn Bancorp, Inc. has a 52 week low of $19.75 and a 52 week high of $33.87. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.12.

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

Mid Penn Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 26th. Shareholders of record on Thursday, May 8th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend is Thursday, May 8th. Mid Penn Bancorp’s dividend payout ratio is 27.59%.

Insider Activity

In related news, CEO Rory G. Ritrievi purchased 3,050 shares of Mid Penn Bancorp stock in a transaction dated Monday, January 27th. The stock was purchased at an average cost of $30.05 per share, for a total transaction of $91,652.50. Following the completion of the acquisition, the chief executive officer now directly owns 7,385 shares of the company’s stock, valued at $221,919.25. The trade was a 70.36 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Soto Matthew G. De purchased 2,575 shares of the stock in a transaction dated Tuesday, February 4th. The stock was bought at an average cost of $29.07 per share, with a total value of $74,855.25. Following the transaction, the director now owns 103,162 shares in the company, valued at $2,998,919.34. The trade was a 2.56 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 9,010 shares of company stock worth $266,495. Insiders own 8.10% 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.