Mid Penn Bancorp, Inc. (NASDAQ:MPB) CEO Rory G. Ritrievi Buys 3,050 Shares

Mid Penn Bancorp, Inc. (NASDAQ:MPB) CEO Rory G. Ritrievi acquired 3,050 shares of the business’s stock in a transaction on 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 completion of the purchase, the chief executive officer now owns 7,385 shares in the company, valued at $221,919.25. This represents a 70.36 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

Mid Penn Bancorp Stock Performance

Shares of Mid Penn Bancorp stock opened at $30.54 on Thursday. The business’s 50 day moving average price is $30.06 and its 200 day moving average price is $29.55. The company has a market cap of $507.57 million, a price-to-earnings ratio of 10.53 and a beta of 0.57. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.94 and a current ratio of 0.95. Mid Penn Bancorp, Inc. has a one year low of $19.20 and a one year high of $33.87.

Mid Penn Bancorp (NASDAQ:MPB) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 EPS for the quarter, hitting the consensus estimate of $0.71. Mid Penn Bancorp had a return on equity of 8.43% and a net margin of 15.99%. On average, research analysts predict that Mid Penn Bancorp, Inc. will post 3 EPS for the current year.

Mid Penn Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, February 7th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $0.80 annualized dividend and a dividend yield of 2.62%. Mid Penn Bancorp’s dividend payout ratio (DPR) is 27.59%.

Wall Street Analyst Weigh In

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

Institutional Trading of Mid Penn Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in MPB. Wellington Management Group LLP grew its position in Mid Penn Bancorp by 14.3% in the third quarter. Wellington Management Group LLP now owns 638,594 shares of the financial services provider’s stock worth $19,049,000 after acquiring an additional 79,851 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Mid Penn Bancorp by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 418,963 shares of the financial services provider’s stock worth $9,195,000 after purchasing an additional 31,292 shares during the period. Geode Capital Management LLC increased its position in shares of Mid Penn Bancorp by 5.3% during the 3rd quarter. Geode Capital Management LLC now owns 350,375 shares of the financial services provider’s stock worth $10,454,000 after purchasing an additional 17,730 shares during the last quarter. State Street Corp raised its holdings in Mid Penn Bancorp by 4.9% in the 3rd quarter. State Street Corp now owns 302,384 shares of the financial services provider’s stock valued at $9,020,000 after buying an additional 14,148 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Mid Penn Bancorp by 28.9% in the third quarter. JPMorgan Chase & Co. now owns 62,542 shares of the financial services provider’s stock valued at $1,866,000 after buying an additional 14,009 shares during the last quarter. 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.