Emerald Mutual Fund Advisers Trust Sells 33,524 Shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Emerald Mutual Fund Advisers Trust reduced its stake in Mid Penn Bancorp, Inc. (NASDAQ:MPB) by 20.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,757 shares of the financial services provider’s stock after selling 33,524 shares during the period. Emerald Mutual Fund Advisers Trust owned approximately 0.77% of Mid Penn Bancorp worth $2,826,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MPB. BNP Paribas Financial Markets lifted its holdings in 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 worth $357,000 after purchasing an additional 8,545 shares in the last quarter. BHZ Capital Management LP lifted its holdings in shares of Mid Penn Bancorp by 53.8% in the fourth quarter. BHZ Capital Management LP now owns 23,739 shares of the financial services provider’s stock worth $576,000 after buying an additional 8,307 shares in the last quarter. LSV Asset Management boosted its position in shares of Mid Penn Bancorp by 11.1% in the first quarter. LSV Asset Management now owns 128,961 shares of the financial services provider’s stock valued at $2,581,000 after acquiring an additional 12,883 shares during the period. Empowered Funds LLC grew its stake in Mid Penn Bancorp by 7.8% during the first quarter. Empowered Funds LLC now owns 31,268 shares of the financial services provider’s stock valued at $626,000 after acquiring an additional 2,275 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Mid Penn Bancorp by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 688,363 shares of the financial services provider’s stock worth $13,774,000 after acquiring an additional 12,314 shares during the period. 43.11% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MPB has been the subject of a number of recent analyst reports. Piper Sandler boosted their price target on shares of Mid Penn Bancorp from $25.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. StockNews.com upgraded Mid Penn Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, August 9th.

Mid Penn Bancorp Trading Down 1.3 %

Shares of MPB opened at $28.62 on Friday. Mid Penn Bancorp, Inc. has a 1-year low of $18.63 and a 1-year high of $30.51. The company has a market capitalization of $477.64 million, a P/E ratio of 12.39 and a beta of 0.58. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.95 and a quick ratio of 0.95. The firm’s 50 day simple moving average is $26.55 and its 200 day simple moving average is $22.71.

Mid Penn Bancorp (NASDAQ:MPB) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.06. Mid Penn Bancorp had a net margin of 15.57% and a return on equity of 7.99%. The company had revenue of $44.10 million during the quarter, compared to the consensus estimate of $41.63 million. Sell-side analysts forecast that Mid Penn Bancorp, Inc. will post 2.74 earnings per share for the current fiscal year.

Mid Penn Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.80%. The ex-dividend date was Friday, August 9th. Mid Penn Bancorp’s dividend payout ratio (DPR) is currently 34.63%.

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.