Sei Investments Co. lifted its position in shares of Mid Penn Bancorp (NASDAQ:MPB – Free Report) by 118.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,142 shares of the financial services provider’s stock after purchasing an additional 17,420 shares during the period. Sei Investments Co.’s holdings in Mid Penn Bancorp were worth $1,034,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of MPB. Lazard Asset Management LLC grew its holdings in Mid Penn Bancorp by 6.9% during the second 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 during the period. 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 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 acquiring an additional 576 shares during the period. Citadel Advisors LLC boosted its stake in shares of 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 acquiring an additional 636 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Mid Penn Bancorp by 0.7% during the 1st quarter. Bank of New York Mellon Corp now owns 108,145 shares of the financial services provider’s stock worth $3,478,000 after acquiring an additional 787 shares during the last quarter. 43.11% of the stock is owned by institutional investors.
Mid Penn Bancorp Stock Performance
MPB opened at $38.24 on Thursday. Mid Penn Bancorp has a 52-week low of $26.56 and a 52-week high of $39.15. The firm has a market cap of $968.81 million, a P/E ratio of 13.51 and a beta of 0.47. The business’s fifty day moving average is $35.39 and its 200-day moving average is $33.65.
Mid Penn Bancorp Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Monday, August 3rd. This is a boost from Mid Penn Bancorp’s previous quarterly dividend of $0.22. Mid Penn Bancorp’s dividend payout ratio is presently 32.51%.
Analysts Set New Price Targets
A number of research firms recently weighed in on MPB. Raymond James Financial began coverage on Mid Penn Bancorp in a research note on Tuesday, June 30th. They issued an “outperform” rating and a $38.00 price target on the stock. Wall Street Zen upgraded shares of Mid Penn Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Weiss Ratings raised shares of Mid Penn Bancorp from a “hold (c+)” rating to a “buy (b)” rating in a research report on Tuesday. Zacks Research upgraded shares of Mid Penn Bancorp to a “hold” rating in a research note on Wednesday, July 1st. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Mid Penn Bancorp from $37.00 to $41.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Mid Penn Bancorp has an average rating of “Moderate Buy” and an average target price of $39.50.
Read Our Latest Analysis on MPB
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.
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