Emerald Advisers LLC Buys 1,750 Shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Emerald Advisers LLC increased its position in Mid Penn Bancorp, Inc. (NASDAQ:MPB) by 261.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,419 shares of the financial services provider’s stock after acquiring an additional 1,750 shares during the quarter. Emerald Advisers LLC’s holdings in Mid Penn Bancorp were worth $70,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Stonebridge Financial Group LLC bought a new position in shares of Mid Penn Bancorp in the fourth quarter worth $45,000. SG Americas Securities LLC raised its holdings in shares of Mid Penn Bancorp by 18.6% in the 4th quarter. SG Americas Securities LLC now owns 6,484 shares of the financial services provider’s stock valued at $187,000 after acquiring an additional 1,018 shares in the last quarter. Mystic Asset Management Inc. purchased a new stake in Mid Penn Bancorp in the fourth quarter valued at approximately $210,000. Semanteon Capital Management LP purchased a new stake in Mid Penn Bancorp in the fourth quarter valued at approximately $228,000. Finally, Thrivent Financial for Lutherans purchased a new stake in shares of Mid Penn Bancorp during the 3rd quarter valued at $272,000. Hedge funds and other institutional investors own 43.11% of the company’s stock.

Insider Buying and Selling

In other news, CEO Rory G. Ritrievi bought 3,050 shares of Mid Penn Bancorp stock in a transaction on Monday, January 27th. The shares were purchased at an average price of $30.05 per share, for a total transaction of $91,652.50. Following the acquisition, the chief executive officer now owns 7,385 shares of the company’s stock, valued at approximately $221,919.25. The trade was a 70.36 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Soto Matthew G. De bought 2,575 shares of Mid Penn Bancorp stock in a transaction dated Tuesday, February 4th. The stock was acquired at an average cost of $29.07 per share, for a total transaction of $74,855.25. Following the completion of the transaction, the director now directly owns 103,162 shares in the company, valued at approximately $2,998,919.34. This trade represents a 2.56 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 9,007 shares of company stock valued at $266,467 over the last three months. 10.70% of the stock is owned by company insiders.

Mid Penn Bancorp Stock Performance

Shares of NASDAQ MPB opened at $25.39 on Monday. The stock has a market cap of $491.45 million, a price-to-earnings ratio of 8.76 and a beta of 0.53. Mid Penn Bancorp, Inc. has a 1-year low of $19.20 and a 1-year high of $33.87. The stock’s 50-day moving average is $28.48 and its 200 day moving average is $29.72. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12.

Mid Penn Bancorp (NASDAQ:MPB) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 EPS for the quarter, hitting analysts’ consensus estimates of $0.71. Mid Penn Bancorp had a return on equity of 8.43% and a net margin of 15.99%. On average, sell-side analysts anticipate that Mid Penn Bancorp, Inc. will post 3 EPS for the current fiscal year.

Mid Penn Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, February 7th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.15%. The ex-dividend date was Friday, February 7th. Mid Penn Bancorp’s payout ratio is 27.59%.

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.