Mid Penn Bancorp, Inc. (NASDAQ:MPB) Short Interest Update

Mid Penn Bancorp, Inc. (NASDAQ:MPB) saw a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 313,700 shares, an increase of 405.2% from the October 31st total of 62,100 shares. Based on an average daily trading volume, of 51,400 shares, the days-to-cover ratio is presently 6.1 days.

Mid Penn Bancorp Stock Performance

Mid Penn Bancorp stock traded down $0.02 during midday trading on Friday, hitting $32.05. 33,524 shares of the company were exchanged, compared to its average volume of 40,185. The firm has a market capitalization of $532.67 million, a PE ratio of 11.02 and a beta of 0.57. Mid Penn Bancorp has a fifty-two week low of $19.20 and a fifty-two week high of $33.87. The business has a fifty day simple moving average of $30.95 and a two-hundred day simple moving average of $26.93. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Friday, November 8th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.50%. The ex-dividend date was Friday, November 8th. Mid Penn Bancorp’s dividend payout ratio (DPR) is 27.49%.

Wall Street Analysts Forecast Growth

MPB has been the subject of several research analyst reports. StockNews.com cut Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, October 14th. Keefe, Bruyette & Woods raised their price objective on Mid Penn Bancorp from $34.00 to $37.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Finally, Piper Sandler raised their price objective on Mid Penn Bancorp from $31.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th.

Insider Buying and Selling at Mid Penn Bancorp

In other news, Director Albert J. Evans acquired 8,474 shares of Mid Penn Bancorp stock in a transaction dated Friday, November 1st. The stock was purchased at an average cost of $29.50 per share, for a total transaction of $249,983.00. Following the completion of the purchase, the director now directly owns 34,712 shares in the company, valued at $1,024,004. This trade represents a 32.30 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders acquired 9,669 shares of company stock worth $285,241. 10.70% of the stock is owned by insiders.

Institutional Trading of Mid Penn Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP grew its holdings 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 valued at $19,049,000 after purchasing an additional 79,851 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in Mid Penn Bancorp in the third quarter valued at approximately $1,626,000. Kennedy Capital Management LLC grew its holdings in Mid Penn Bancorp by 126.4% in the first quarter. Kennedy Capital Management LLC now owns 96,086 shares of the financial services provider’s stock valued at $1,923,000 after purchasing an additional 53,650 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new stake in Mid Penn Bancorp in the third quarter valued at approximately $1,078,000. Finally, Dimensional Fund Advisors LP grew its holdings in Mid Penn Bancorp by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 418,963 shares of the financial services provider’s stock valued at $9,195,000 after purchasing an additional 31,292 shares during the period. 43.11% of the stock is owned by institutional investors and hedge funds.

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.