Soto Matthew G. De Buys 2,575 Shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) Stock

Mid Penn Bancorp, Inc. (NASDAQ:MPB) Director Soto Matthew G. De purchased 2,575 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were bought at an average price of $29.07 per share, for a total transaction of $74,855.25. Following the acquisition, the director now directly owns 103,162 shares in the company, valued at $2,998,919.34. This trade represents a 2.56 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Mid Penn Bancorp Stock Performance

Shares of NASDAQ:MPB opened at $30.28 on Friday. The firm’s 50 day simple moving average is $29.80 and its 200-day simple moving average is $29.71. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.94 and a current ratio of 0.95. Mid Penn Bancorp, Inc. has a one year low of $19.20 and a one year high of $33.87. The firm has a market cap of $503.25 million, a PE ratio of 10.44 and a beta of 0.56.

Mid Penn Bancorp (NASDAQ:MPB) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.71 EPS for the quarter, hitting the consensus estimate of $0.71. Mid Penn Bancorp had a return on equity of 8.43% and a net margin of 15.99%. As a group, equities analysts predict that Mid Penn Bancorp, Inc. will post 3 EPS for the current year.

Mid Penn Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, February 7th will be issued a $0.20 dividend. The ex-dividend date is Friday, February 7th. This represents a $0.80 annualized dividend and a dividend yield of 2.64%. Mid Penn Bancorp’s payout ratio is currently 27.59%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MPB. Raymond James Financial Inc. bought a new stake in shares of Mid Penn Bancorp in the 4th quarter valued at about $1,289,000. Charles Schwab Investment Management Inc. increased its holdings in Mid Penn Bancorp by 15.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 47,355 shares of the financial services provider’s stock valued at $1,366,000 after buying an additional 6,439 shares during the period. Bank of New York Mellon Corp raised its stake in Mid Penn Bancorp by 19.7% in the fourth quarter. Bank of New York Mellon Corp now owns 74,669 shares of the financial services provider’s stock worth $2,153,000 after buying an additional 12,297 shares in the last quarter. Rhumbline Advisers lifted its holdings in Mid Penn Bancorp by 2.6% during the fourth quarter. Rhumbline Advisers now owns 24,386 shares of the financial services provider’s stock worth $703,000 after buying an additional 621 shares during the period. Finally, Stonebridge Financial Group LLC bought a new stake in Mid Penn Bancorp during the 4th quarter valued at $45,000. 43.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MPB. StockNews.com downgraded shares of Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, October 14th. Keefe, Bruyette & Woods increased their price target on Mid Penn Bancorp from $34.00 to $37.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Finally, Piper Sandler boosted their target price on shares of Mid Penn Bancorp from $31.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, October 28th.

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.