Mid Penn Bancorp Declares Quarterly Dividend of $0.22 (NASDAQ:MPB)

Mid Penn Bancorp (NASDAQ:MPB) announced a quarterly dividend on Tuesday, April 21st. Stockholders of record on Monday, May 4th will be paid a dividend of 0.22 per share by the financial services provider on Friday, May 15th. This represents a c) dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Monday, May 4th.

Mid Penn Bancorp has raised its dividend by an average of 0.0%annually over the last three years. Mid Penn Bancorp has a dividend payout ratio of 25.9% meaning its dividend is sufficiently covered by earnings.

Mid Penn Bancorp Trading Down 2.8%

Shares of NASDAQ MPB opened at $33.43 on Wednesday. Mid Penn Bancorp has a twelve month low of $25.47 and a twelve month high of $35.22. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.03. The stock has a fifty day simple moving average of $32.62 and a 200-day simple moving average of $31.26. The stock has a market capitalization of $847.08 million, a PE ratio of 13.11 and a beta of 0.51.

Mid Penn Bancorp (NASDAQ:MPB) last issued its quarterly earnings data on Wednesday, April 22nd. 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 16.04% and a return on equity of 8.64%. The firm had revenue of $64.85 million during the quarter, compared to analyst estimates of $63.15 million.

Insiders Place Their Bets

In other news, Director Soto Matthew G. De acquired 972 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was acquired at an average cost of $30.85 per share, with a total value of $29,986.20. Following the completion of the purchase, the director owned 4,299 shares of the company’s stock, valued at $132,624.15. This represents a 29.22% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Thomas R. Brugger bought 818 shares of the stock in a transaction that occurred 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 purchase, the director directly owned 6,110 shares in the company, valued at $191,548.50. This represents a 15.46% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought 3,408 shares of company stock valued at $105,578 over the last ninety days. Insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Lazard Asset Management LLC grew its stake in Mid Penn Bancorp by 6.9% during the 2nd quarter. Lazard Asset Management LLC now owns 5,576 shares of the financial services provider’s stock worth $156,000 after purchasing an additional 358 shares in the last quarter. Legal & General Group Plc grew its stake 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 purchasing an additional 493 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Mid Penn Bancorp by 5.6% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,937 shares of the financial services provider’s stock worth $308,000 after purchasing an additional 576 shares in the last quarter. Citadel Advisors LLC grew its stake in Mid Penn Bancorp by 5.3% during the 3rd quarter. Citadel Advisors LLC now owns 12,669 shares of the financial services provider’s stock worth $363,000 after purchasing an additional 636 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Mid Penn Bancorp by 7.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,502 shares of the financial services provider’s stock worth $357,000 after purchasing an additional 842 shares in the last quarter. 43.11% of the stock is owned by institutional investors and hedge funds.

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.