Mid Penn Bancorp (NASDAQ:MPB) Shares Pass Below 200-Day Moving Average of $21.30

Mid Penn Bancorp, Inc. (NASDAQ:MPB) shares crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $21.30 and traded as low as $20.30. Mid Penn Bancorp shares last traded at $20.41, with a volume of 49,206 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. TheStreet cut shares of Mid Penn Bancorp from a “b” rating to a “c+” rating in a research note on Tuesday, February 13th. Piper Sandler dropped their price objective on shares of Mid Penn Bancorp from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st.

Mid Penn Bancorp Stock Performance

The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.19. The stock’s 50 day moving average price is $20.27 and its two-hundred day moving average price is $21.29. The firm has a market capitalization of $338.36 million, a PE ratio of 8.96 and a beta of 0.57.

Mid Penn Bancorp (NASDAQ:MPB) last released its earnings results on Friday, January 26th. The financial services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.59 by $0.14. The firm had revenue of $42.12 million during the quarter, compared to analysts’ expectations of $42.03 million. Mid Penn Bancorp had a net margin of 14.59% and a return on equity of 8.37%. On average, equities analysts expect that Mid Penn Bancorp, Inc. will post 2.66 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Theodore W. Mowery bought 2,000 shares of the stock in a transaction on Friday, March 15th. The stock was purchased at an average cost of $20.42 per share, with a total value of $40,840.00. Following the purchase, the director now owns 31,540 shares of the company’s stock, valued at $644,046.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Theodore W. Mowery purchased 2,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were bought at an average price of $20.42 per share, for a total transaction of $40,840.00. Following the acquisition, the director now directly owns 31,540 shares in the company, valued at $644,046.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Soto Matthew G. De purchased 1,185 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was bought at an average price of $21.13 per share, for a total transaction of $25,039.05. Following the acquisition, the director now owns 67,863 shares in the company, valued at $1,433,945.19. The disclosure for this purchase can be found here. In the last three months, insiders bought 4,994 shares of company stock valued at $103,875. Company insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On Mid Penn Bancorp

Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in shares of Mid Penn Bancorp during the 3rd quarter valued at $141,000. BNP Paribas Financial Markets lifted its holdings in shares of Mid Penn Bancorp by 138.5% during the 4th quarter. BNP Paribas Financial Markets now owns 14,713 shares of the financial services provider’s stock valued at $357,000 after acquiring an additional 8,545 shares in the last quarter. Summit Trail Advisors LLC lifted its holdings in shares of Mid Penn Bancorp by 20.7% during the 4th quarter. Summit Trail Advisors LLC now owns 15,149 shares of the financial services provider’s stock valued at $368,000 after acquiring an additional 2,601 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of Mid Penn Bancorp during the 3rd quarter valued at $348,000. Finally, Bailard Inc. acquired a new position in shares of Mid Penn Bancorp during the 3rd quarter valued at $371,000. Institutional investors and hedge funds own 43.11% of the company’s stock.

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.