Mid Penn Bancorp, Inc. (NASDAQ:MPB) Director Soto Matthew G. De Buys 9,615 Shares of Stock

Mid Penn Bancorp, Inc. (NASDAQ:MPB) Director Soto Matthew G. De acquired 9,615 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were bought at an average cost of $20.76 per share, with a total value of $199,607.40. Following the transaction, the director now directly owns 79,190 shares of the company’s stock, valued at approximately $1,643,984.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Mid Penn Bancorp Trading Up 2.8 %

MPB stock opened at $20.80 on Thursday. 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 business’s 50 day moving average is $20.22 and its 200-day moving average is $21.31. Mid Penn Bancorp, Inc. has a 1-year low of $18.25 and a 1-year high of $25.92. The firm has a market cap of $344.66 million, a P/E ratio of 9.00 and a beta of 0.56.

Mid Penn Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 27th. Stockholders of record on Friday, May 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.85%. The ex-dividend date is Thursday, May 9th. Mid Penn Bancorp’s payout ratio is 34.63%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MPB shares. Piper Sandler lowered their price target on Mid Penn Bancorp from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. TheStreet cut Mid Penn Bancorp from a “b” rating to a “c+” rating in a research report on Tuesday, February 13th. Finally, StockNews.com raised Mid Penn Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday.

Institutional Investors Weigh In On Mid Penn Bancorp

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