Mid Penn Bancorp, Inc. (NASDAQ:MPB) Director Purchases $249,983.00 in Stock

Mid Penn Bancorp, Inc. (NASDAQ:MPB) Director Albert J. Evans bought 8,474 shares of the company’s stock in a transaction on Friday, November 1st. The stock was bought at an average price of $29.50 per share, for a total transaction 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 purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Mid Penn Bancorp Stock Up 5.1 %

Mid Penn Bancorp stock opened at $32.23 on Thursday. Mid Penn Bancorp, Inc. has a twelve month low of $19.20 and a twelve month high of $32.86. The business has a fifty day moving average of $30.09 and a two-hundred day moving average of $25.73. The firm has a market cap of $538.24 million, a P/E ratio of 11.08 and a beta of 0.57. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.12.

Mid Penn Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.80 annualized dividend and a yield of 2.48%. Mid Penn Bancorp’s dividend payout ratio (DPR) is presently 27.49%.

Hedge Funds Weigh In On Mid Penn Bancorp

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Mid Penn Bancorp by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 688,363 shares of the financial services provider’s stock worth $13,774,000 after buying an additional 12,314 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Mid Penn Bancorp by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 418,963 shares of the financial services provider’s stock worth $9,195,000 after purchasing an additional 31,292 shares during the last quarter. LSV Asset Management increased its position in shares of Mid Penn Bancorp by 21.0% during the second quarter. LSV Asset Management now owns 156,059 shares of the financial services provider’s stock worth $3,425,000 after purchasing an additional 27,098 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Mid Penn Bancorp by 8.8% during the 2nd quarter. American Century Companies Inc. now owns 144,397 shares of the financial services provider’s stock valued at $3,170,000 after purchasing an additional 11,731 shares during the last quarter. Finally, Kennedy Capital Management LLC boosted its position in shares of Mid Penn Bancorp by 126.4% in the 1st quarter. Kennedy Capital Management LLC now owns 96,086 shares of the financial services provider’s stock worth $1,923,000 after purchasing an additional 53,650 shares in the last quarter. 43.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on MPB shares. Piper Sandler increased their price objective on Mid Penn Bancorp from $31.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Keefe, Bruyette & Woods increased their price target on Mid Penn Bancorp from $34.00 to $37.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Finally, StockNews.com lowered Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, October 14th.

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.