Soto Matthew G. De Buys 9,615 Shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) Stock

Mid Penn Bancorp, Inc. (NASDAQ:MPB) Director Soto Matthew G. De acquired 9,615 shares of the stock in a transaction on Monday, April 29th. The shares were bought at an average price of $20.76 per share, for a total transaction of $199,607.40. Following the purchase, the director now owns 79,190 shares in the company, valued at $1,643,984.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Mid Penn Bancorp Trading Up 2.8 %

Shares of MPB opened at $20.80 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 0.94. Mid Penn Bancorp, Inc. has a 52-week low of $18.25 and a 52-week high of $25.92. The firm has a market cap of $344.66 million, a price-to-earnings ratio of 9.00 and a beta of 0.56. The business’s fifty day moving average is $20.22 and its 200-day moving average is $21.31.

Mid Penn Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 27th. Shareholders of record on Friday, May 10th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend is Thursday, May 9th. Mid Penn Bancorp’s dividend payout ratio is presently 34.63%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new position in Mid Penn Bancorp during the 3rd quarter worth approximately $141,000. Bank of New York Mellon Corp increased its holdings in shares of Mid Penn Bancorp by 1.3% during the third quarter. Bank of New York Mellon Corp now owns 92,565 shares of the financial services provider’s stock worth $1,863,000 after buying an additional 1,176 shares in the last quarter. Bailard Inc. bought a new position in shares of Mid Penn Bancorp in the 3rd quarter valued at $371,000. Strs Ohio boosted its holdings in shares of Mid Penn Bancorp by 1,223.5% during the 3rd quarter. Strs Ohio now owns 22,500 shares of the financial services provider’s stock valued at $452,000 after acquiring an additional 20,800 shares in the last quarter. Finally, Wharton Business Group LLC grew its position in Mid Penn Bancorp by 3.1% during the 3rd quarter. Wharton Business Group LLC now owns 78,331 shares of the financial services provider’s stock worth $1,577,000 after acquiring an additional 2,355 shares during the last quarter. Institutional investors and hedge funds own 43.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Piper Sandler decreased their price target on Mid Penn Bancorp from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, February 1st. TheStreet lowered shares of Mid Penn Bancorp from a “b” rating to a “c+” rating in a report on Tuesday, February 13th. Finally, StockNews.com raised shares of Mid Penn Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday.

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.