Mid Penn Bancorp, Inc. (NASDAQ:MPB) Insider Acquires $20,001.00 in Stock

Mid Penn Bancorp, Inc. (NASDAQ:MPB) insider Joan E. Dickinson purchased 678 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were bought at an average cost of $29.50 per share, for a total transaction of $20,001.00. Following the acquisition, the insider now owns 4,493 shares in the company, valued at approximately $132,543.50. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Mid Penn Bancorp Trading Down 1.1 %

Shares of NASDAQ MPB traded down $0.35 during trading on Tuesday, hitting $30.66. 48,772 shares of the company were exchanged, compared to its average volume of 37,360. The firm has a market capitalization of $512.02 million, a PE ratio of 10.54 and a beta of 0.57. Mid Penn Bancorp, Inc. has a 12-month low of $19.20 and a 12-month high of $32.86. The company has a fifty day moving average price of $30.01 and a 200-day moving average price of $25.61. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.95 and a current ratio of 0.95.

Mid Penn Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date is Friday, November 8th. Mid Penn Bancorp’s dividend payout ratio is presently 27.49%.

Institutional Investors Weigh In On Mid Penn Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. McClarren Financial Advisors Inc. increased its holdings in Mid Penn Bancorp by 5,438.1% in the third quarter. McClarren Financial Advisors Inc. now owns 1,163 shares of the financial services provider’s stock valued at $34,000 after buying an additional 1,142 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Mid Penn Bancorp during the third quarter worth approximately $163,000. New Wave Wealth Advisors LLC acquired a new position in shares of Mid Penn Bancorp in the 2nd quarter valued at $278,000. Heritage Oak Wealth Advisors LLC acquired a new position in shares of Mid Penn Bancorp in the 3rd quarter valued at $378,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Mid Penn Bancorp in the 2nd quarter valued at $282,000. 43.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

About Mid Penn Bancorp

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.