Insider Buying: Mid Penn Bancorp, Inc. (NASDAQ:MPB) CFO Purchases 750 Shares of Stock

Mid Penn Bancorp, Inc. (NASDAQ:MPB) CFO Michael D. Peduzzi bought 750 shares of the firm’s stock in a transaction that occurred on Friday, April 30th. The shares were purchased at an average cost of $25.00 per share, for a total transaction of $18,750.00. Following the acquisition, the chief financial officer now directly owns 4,388 shares in the company, valued at approximately $109,700. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Shares of MPB stock traded up $0.37 during mid-day trading on Monday, reaching $27.36. The stock had a trading volume of 60,505 shares, compared to its average volume of 23,578. Mid Penn Bancorp, Inc. has a 52-week low of $16.60 and a 52-week high of $29.87. The firm has a market capitalization of $230.18 million, a PE ratio of 10.54 and a beta of 0.65. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.47. The stock’s 50-day moving average price is $26.32 and its two-hundred day moving average price is $23.78.

Mid Penn Bancorp (NASDAQ:MPB) last released its earnings results on Wednesday, April 21st. The financial services provider reported $1.10 EPS for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.19. Mid Penn Bancorp had a return on equity of 8.92% and a net margin of 18.55%. On average, equities research analysts forecast that Mid Penn Bancorp, Inc. will post 2.88 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 24th. Stockholders of record on Monday, May 10th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend is Friday, May 7th. This is a boost from Mid Penn Bancorp’s previous quarterly dividend of $0.19. Mid Penn Bancorp’s dividend payout ratio is 36.36%.

Several institutional investors have recently modified their holdings of MPB. Citigroup Inc. increased its position in Mid Penn Bancorp by 300.9% in the fourth quarter. Citigroup Inc. now owns 1,339 shares of the financial services provider’s stock worth $29,000 after buying an additional 1,005 shares in the last quarter. Grant Street Asset Management Inc. purchased a new stake in shares of Mid Penn Bancorp during the fourth quarter worth about $60,000. Rhumbline Advisers bought a new stake in shares of Mid Penn Bancorp during the fourth quarter valued at approximately $225,000. Strs Ohio increased its holdings in Mid Penn Bancorp by 82.5% in the 1st quarter. Strs Ohio now owns 10,400 shares of the financial services provider’s stock valued at $278,000 after acquiring an additional 4,700 shares during the last quarter. Finally, LSV Asset Management grew its holdings in Mid Penn Bancorp by 27.4% during the 1st quarter. LSV Asset Management now owns 18,446 shares of the financial services provider’s stock valued at $494,000 after buying an additional 3,972 shares in the last quarter. Institutional investors and hedge funds own 19.50% of the company’s stock.

A number of equities research analysts recently issued reports on MPB shares. Stephens assumed coverage on Mid Penn Bancorp in a research report on Monday. They issued an “overweight” rating and a $30.00 price objective on the stock. Zacks Investment Research upgraded shares of Mid Penn Bancorp from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research report on Tuesday, March 16th.

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 IRAs.

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Insider Buying and Selling by Quarter for Mid Penn Bancorp (NASDAQ:MPB)

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