Mid Penn Bancorp (NASDAQ:MPB) Sees Large Volume Increase – What’s Next?

Mid Penn Bancorp, Inc. (NASDAQ:MPB) saw unusually-strong trading volume on Friday . Approximately 56,351 shares changed hands during trading, an increase of 9% from the previous session’s volume of 51,807 shares.The stock last traded at $25.77 and had previously closed at $26.25.

Mid Penn Bancorp Stock Down 2.6 %

The business’s fifty day moving average price is $28.29 and its two-hundred day moving average price is $29.63. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.94 and a current ratio of 0.95. The firm has a market capitalization of $494.35 million, a P/E ratio of 8.80 and a beta of 0.53.

Mid Penn Bancorp (NASDAQ:MPB) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share (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%. Equities analysts expect that Mid Penn Bancorp, Inc. will post 3 earnings per share for the current fiscal year.

Mid Penn Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, February 7th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend was Friday, February 7th. Mid Penn Bancorp’s dividend payout ratio (DPR) is presently 27.59%.

Insider Buying and Selling

In other news, CEO Rory G. Ritrievi bought 3,365 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average cost of $29.56 per share, for a total transaction of $99,469.40. Following the purchase, the chief executive officer now directly owns 10,750 shares in the company, valued at approximately $317,770. This trade represents a 45.57 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Soto Matthew G. De acquired 2,575 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was purchased at an average cost of $29.07 per share, with a total value of $74,855.25. Following the acquisition, the director now directly owns 103,162 shares of the company’s stock, valued at $2,998,919.34. This represents a 2.56 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 9,007 shares of company stock worth $266,467 in the last 90 days. Insiders own 10.70% of the company’s stock.

Hedge Funds Weigh In On Mid Penn Bancorp

Large investors have recently bought and sold shares of the business. Stonebridge Financial Group LLC acquired a new stake in Mid Penn Bancorp in the 4th quarter valued at $45,000. Emerald Advisers LLC grew its position in shares of Mid Penn Bancorp by 261.6% in the fourth quarter. Emerald Advisers LLC now owns 2,419 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 1,750 shares during the period. SG Americas Securities LLC increased its stake in shares of Mid Penn Bancorp by 18.6% during the fourth quarter. SG Americas Securities LLC now owns 6,484 shares of the financial services provider’s stock worth $187,000 after purchasing an additional 1,018 shares in the last quarter. Mystic Asset Management Inc. acquired a new position in shares of Mid Penn Bancorp during the 4th quarter worth about $210,000. Finally, Semanteon Capital Management LP acquired a new position in shares of Mid Penn Bancorp during the 4th quarter worth about $228,000. Institutional investors and hedge funds own 43.11% of the company’s stock.

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.