Stonebridge Financial Group LLC Acquires Shares of 1,565 Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Stonebridge Financial Group LLC acquired a new stake in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,565 shares of the financial services provider’s stock, valued at approximately $45,000.

Other institutional investors have also made changes to their positions in the company. McClarren Financial Advisors Inc. lifted its stake in shares of 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 worth $34,000 after acquiring an additional 1,142 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Mid Penn Bancorp in the 3rd quarter valued at approximately $163,000. Cornercap Investment Counsel Inc. purchased a new position in shares of Mid Penn Bancorp during the 3rd quarter valued at approximately $263,000. Thrivent Financial for Lutherans acquired a new stake in shares of Mid Penn Bancorp during the third quarter worth approximately $272,000. Finally, Franklin Resources Inc. bought a new stake in shares of Mid Penn Bancorp in the third quarter worth $285,000. 43.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Piper Sandler increased their price objective 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. Keefe, Bruyette & Woods upped their target price on shares of Mid Penn Bancorp from $34.00 to $37.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th.

Mid Penn Bancorp Price Performance

Shares of NASDAQ MPB opened at $29.48 on Friday. The business has a 50 day simple moving average of $29.59 and a 200-day simple moving average of $29.81. Mid Penn Bancorp, Inc. has a twelve month low of $19.20 and a twelve month high of $33.87. The company has a market capitalization of $570.61 million, a price-to-earnings ratio of 10.17 and a beta of 0.56. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12.

Mid Penn Bancorp (NASDAQ:MPB) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.71. Mid Penn Bancorp had a net margin of 15.99% and a return on equity of 8.43%. As a group, equities research analysts expect that Mid Penn Bancorp, Inc. will post 3 earnings per share for the current year.

Mid Penn Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, February 7th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $0.80 dividend on an annualized basis and a yield of 2.71%. Mid Penn Bancorp’s dividend payout ratio is currently 27.59%.

Insider Buying and Selling at Mid Penn Bancorp

In other news, Director Soto Matthew G. De purchased 2,575 shares of Mid Penn Bancorp stock in a transaction dated Tuesday, February 4th. The stock was bought at an average price of $29.07 per share, with a total value of $74,855.25. Following the completion of the acquisition, the director now owns 103,162 shares in the company, valued at $2,998,919.34. The trade was a 2.56 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rory G. Ritrievi purchased 3,050 shares of the stock in a transaction dated Monday, January 27th. The shares were purchased at an average price of $30.05 per share, with a total value of $91,652.50. Following the transaction, the chief executive officer now directly owns 7,385 shares of the company’s stock, valued at approximately $221,919.25. The trade was a 70.36 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 5,651 shares of company stock worth $167,284 over the last ninety days. Company insiders own 10.70% of the company’s stock.

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.