Insider Buying: Mid Penn Bancorp, Inc. (NASDAQ:MPB) Director Acquires 3,560 Shares of Stock

Mid Penn Bancorp, Inc. (NASDAQ:MPB) Director Soto Matthew G. De purchased 3,560 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The stock was bought at an average price of $28.10 per share, for a total transaction of $100,036.00. Following the transaction, the director now directly owns 108,138 shares in the company, valued at $3,038,677.80. This trade represents a 3.40% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Mid Penn Bancorp Price Performance

Shares of NASDAQ:MPB traded up $0.06 during trading on Monday, hitting $28.20. 47,499 shares of the stock were exchanged, compared to its average volume of 67,027. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12. The company has a market cap of $545.84 million, a PE ratio of 9.72 and a beta of 0.65. The company has a fifty day moving average price of $26.55 and a two-hundred day moving average price of $28.74. Mid Penn Bancorp, Inc. has a 12-month low of $20.03 and a 12-month high of $33.87.

Mid Penn Bancorp (NASDAQ:MPB) last issued 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 the consensus estimate of $47.20 million. Mid Penn Bancorp had a return on equity of 8.43% and a net margin of 15.99%. On average, analysts forecast that Mid Penn Bancorp, Inc. will post 3 EPS 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 of this dividend is Thursday, May 8th. This represents a $0.80 annualized dividend and a yield of 2.84%. Mid Penn Bancorp’s dividend payout ratio is currently 27.78%.

Institutional Investors Weigh In On Mid Penn Bancorp

A number of large investors have recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new position in shares of Mid Penn Bancorp during the fourth quarter worth about $45,000. Emerald Advisers LLC increased its stake in shares of 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 valued at $70,000 after purchasing an additional 1,750 shares during the period. GAMMA Investing LLC increased its stake in Mid Penn Bancorp by 5,634.0% during the 1st quarter. GAMMA Investing LLC now owns 2,695 shares of the financial services provider’s stock valued at $70,000 after buying an additional 2,648 shares during the period. SG Americas Securities LLC increased its stake 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 buying an additional 1,018 shares during the period. Finally, Mystic Asset Management Inc. acquired a new position in Mid Penn Bancorp in the fourth quarter worth approximately $210,000. 43.11% of the stock is owned by institutional investors and hedge funds.

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.