Insider Buying: Mid Penn Bancorp, Inc. (NASDAQ:MPB) Insider Purchases $20,001.00 in Stock

Mid Penn Bancorp, Inc. (NASDAQ:MPBGet Free Report) insider Joan E. Dickinson purchased 678 shares of the business’s stock in a transaction on Friday, November 1st. The shares were acquired at an average cost of $29.50 per share, for a total transaction of $20,001.00. Following the completion of the transaction, the insider now directly owns 4,493 shares in the company, valued at approximately $132,543.50. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Mid Penn Bancorp Stock Down 0.6 %

Mid Penn Bancorp stock opened at $32.05 on Friday. The firm has a market capitalization of $535.24 million, a PE ratio of 11.01 and a beta of 0.57. The company’s 50-day moving average is $30.14 and its 200-day moving average is $25.77. Mid Penn Bancorp, Inc. has a fifty-two week low of $19.20 and a fifty-two week high of $32.86. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.95 and a quick ratio of 0.95.

Mid Penn Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, November 8th. This represents a $0.80 annualized dividend and a dividend yield of 2.50%. Mid Penn Bancorp’s dividend payout ratio is presently 27.49%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. McClarren Financial Advisors Inc. increased its stake in shares of Mid Penn Bancorp by 5,438.1% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 1,163 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 1,142 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Mid Penn Bancorp during the 3rd quarter worth about $163,000. Cornercap Investment Counsel Inc. acquired a new position in Mid Penn Bancorp in the 3rd quarter valued at about $263,000. Thrivent Financial for Lutherans acquired a new position in Mid Penn Bancorp in the 3rd quarter valued at about $272,000. Finally, New Wave Wealth Advisors LLC acquired a new position in Mid Penn Bancorp in the 2nd quarter valued at about $278,000. 43.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Get Our Latest Stock Report on MPB

About Mid Penn Bancorp

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Mid Penn Bancorp (NASDAQ:MPB)

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