Insider Buying: Mid Penn Bancorp, Inc. (NASDAQ:MPB) Director Purchases 8,474 Shares of Stock

Mid Penn Bancorp, Inc. (NASDAQ:MPB) Director Albert J. Evans purchased 8,474 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were purchased at an average cost of $29.50 per share, with a total value of $249,983.00. Following the completion of the purchase, the director now directly owns 34,712 shares in the company, valued at approximately $1,024,004. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Mid Penn Bancorp Stock Down 1.1 %

Shares of MPB stock opened at $30.67 on Wednesday. The stock’s 50 day simple moving average is $30.03 and its 200 day simple moving average is $25.68. Mid Penn Bancorp, Inc. has a twelve month low of $19.20 and a twelve month high of $32.86. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $512.19 million, a price-to-earnings ratio of 10.54 and a beta of 0.57.

Mid Penn Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend is Friday, November 8th. Mid Penn Bancorp’s dividend payout ratio is 27.49%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods increased their price objective on Mid Penn Bancorp from $34.00 to $37.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Piper Sandler raised their price target 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. Finally, StockNews.com lowered shares of Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, October 14th.

Institutional Trading of Mid Penn Bancorp

Institutional investors and hedge funds have recently modified their holdings of the company. Heritage Oak Wealth Advisors LLC bought a new position in Mid Penn Bancorp in the 3rd quarter worth $378,000. McClarren Financial Advisors Inc. grew its position in shares of Mid Penn Bancorp by 5,438.1% in the third quarter. McClarren Financial Advisors Inc. now owns 1,163 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 1,142 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Mid Penn Bancorp in the third quarter worth about $163,000. New Wave Wealth Advisors LLC acquired a new position in shares of Mid Penn Bancorp during the 2nd quarter worth about $278,000. Finally, Squarepoint Ops LLC bought a new stake in Mid Penn Bancorp during the 2nd quarter valued at approximately $282,000. 43.11% of the stock is currently owned by institutional investors and hedge funds.

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.