Mid Penn Bancorp, Inc. Declares Quarterly Dividend of $0.20 (NASDAQ:MPB)

Mid Penn Bancorp, Inc. (NASDAQ:MPB) announced a quarterly dividend on Thursday, April 24th, Wall Street Journal reports. Investors of record on Thursday, May 8th will be paid a dividend of 0.20 per share by the financial services provider on Monday, May 26th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Thursday, May 8th.

Mid Penn Bancorp has increased its dividend by an average of 0.4% annually over the last three years. Mid Penn Bancorp has a dividend payout ratio of 23.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Mid Penn Bancorp to earn $3.37 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 23.7%.

Mid Penn Bancorp Stock Performance

Shares of NASDAQ MPB opened at $27.77 on Friday. The firm’s 50-day moving average price is $26.28 and its two-hundred day moving average price is $29.00. Mid Penn Bancorp has a 52-week low of $19.75 and a 52-week high of $33.87. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $537.52 million, a P/E ratio of 9.58 and a beta of 0.58.

Mid Penn Bancorp (NASDAQ:MPB) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.10. Mid Penn Bancorp had a return on equity of 8.43% and a net margin of 15.99%. The company had revenue of $47.75 million during the quarter, compared to the consensus estimate of $47.20 million. As a group, sell-side analysts forecast that Mid Penn Bancorp will post 3 earnings per share for the current year.

Insider Transactions at Mid Penn Bancorp

In other Mid Penn Bancorp news, Director Soto Matthew G. De purchased 2,575 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were purchased at an average cost of $29.07 per share, with a total value of $74,855.25. Following the transaction, the director now directly owns 103,162 shares of the company’s stock, valued at $2,998,919.34. This represents a 2.56 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Rory G. Ritrievi acquired 3,050 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were bought at an average price of $30.05 per share, for a total transaction of $91,652.50. Following the purchase, the chief executive officer now owns 7,385 shares in the company, valued at approximately $221,919.25. This represents a 70.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 9,010 shares of company stock worth $266,495 in the last quarter. 8.10% of the stock is owned by company insiders.

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.