Mid Penn Bancorp, Inc. (NASDAQ:MPB) CEO Rory G. Ritrievi Acquires 3,365 Shares of Stock

Mid Penn Bancorp, Inc. (NASDAQ:MPB) CEO Rory G. Ritrievi acquired 3,365 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was acquired at an average price of $29.56 per share, with a total value of $99,469.40. Following the acquisition, the chief executive officer now directly owns 10,750 shares of the company’s stock, valued at approximately $317,770. This represents a 45.57 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Mid Penn Bancorp Trading Up 0.3 %

NASDAQ MPB opened at $29.58 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.12. Mid Penn Bancorp, Inc. has a 52 week low of $19.20 and a 52 week high of $33.87. The stock has a market capitalization of $572.67 million, a PE ratio of 10.20 and a beta of 0.56. The firm has a 50 day moving average of $29.55 and a two-hundred day moving average of $29.80.

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 net margin of 15.99% and a return on equity of 8.43%. As a group, research analysts expect that Mid Penn Bancorp, Inc. will post 3 EPS for the current fiscal year.

Mid Penn Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, February 7th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Friday, February 7th. Mid Penn Bancorp’s dividend payout ratio (DPR) is presently 27.59%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. grew its holdings in 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 acquiring an additional 1,142 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of Mid Penn Bancorp in the 4th quarter valued at $45,000. Emerald Advisers LLC boosted its holdings in shares of Mid Penn Bancorp by 261.6% in the 4th quarter. Emerald Advisers LLC now owns 2,419 shares of the financial services provider’s stock valued at $70,000 after buying an additional 1,750 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Mid Penn Bancorp in the 3rd quarter valued at $163,000. Finally, Mystic Asset Management Inc. acquired a new position in shares of Mid Penn Bancorp in the 4th quarter valued at $210,000. Institutional investors and hedge funds own 43.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MPB shares. Keefe, Bruyette & Woods lifted their price objective on shares of Mid Penn Bancorp from $34.00 to $37.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Piper Sandler lifted their price objective on shares of Mid Penn Bancorp from $31.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, October 28th.

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.