Alliancebernstein L.P. Decreases Stock Holdings in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Alliancebernstein L.P. reduced its holdings in Mid Penn Bancorp, Inc. (NASDAQ:MPB) by 14.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 253,686 shares of the financial services provider’s stock after selling 44,073 shares during the period. Alliancebernstein L.P. owned approximately 1.31% of Mid Penn Bancorp worth $7,316,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Rhumbline Advisers lifted its position in Mid Penn Bancorp by 2.6% in 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 last quarter. SG Americas Securities LLC raised its stake in shares of Mid Penn Bancorp by 18.6% in the fourth quarter. SG Americas Securities LLC now owns 6,484 shares of the financial services provider’s stock valued at $187,000 after acquiring an additional 1,018 shares during the period. Stonebridge Financial Group LLC bought a new stake in shares of Mid Penn Bancorp in the 4th quarter worth about $45,000. Empowered Funds LLC boosted its stake in shares of Mid Penn Bancorp by 4.8% during the 4th quarter. Empowered Funds LLC now owns 37,063 shares of the financial services provider’s stock worth $1,069,000 after purchasing an additional 1,713 shares during the period. Finally, Emerald Advisers LLC grew its holdings in Mid Penn Bancorp by 261.6% during the 4th 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 last quarter. 43.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Rory G. Ritrievi purchased 3,365 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average price of $29.56 per share, for a total transaction of $99,469.40. Following the completion of the acquisition, the chief executive officer now owns 10,750 shares of the company’s stock, valued at approximately $317,770. This trade represents a 45.57 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Soto Matthew G. De acquired 2,575 shares of Mid Penn Bancorp stock in a transaction on Tuesday, February 4th. The shares were purchased at an average price of $29.07 per share, for a total transaction of $74,855.25. Following the completion of 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 9,010 shares of company stock valued at $266,495 in the last 90 days. Company insiders own 10.70% of the company’s stock.

Mid Penn Bancorp Stock Down 0.4 %

Shares of NASDAQ MPB opened at $24.25 on Friday. Mid Penn Bancorp, Inc. has a 1 year low of $19.20 and a 1 year high of $33.87. The firm has a 50-day simple moving average of $27.01 and a two-hundred day simple moving average of $29.21. The company has a market cap of $469.38 million, a P/E ratio of 8.36 and a beta of 0.58. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.95 and a quick ratio of 0.94.

Mid Penn Bancorp (NASDAQ:MPB) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.71. Mid Penn Bancorp had a return on equity of 8.43% and a net margin of 15.99%. Research analysts anticipate that Mid Penn Bancorp, Inc. will post 3 earnings per share for the current year.

Mid Penn Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, February 7th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date was Friday, February 7th. Mid Penn Bancorp’s payout ratio is presently 27.59%.

Mid Penn Bancorp 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.