Raymond James Financial Inc. Purchases Shares of 44,711 Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Raymond James Financial Inc. bought a new position in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) in the fourth quarter, Holdings Channel reports. The fund bought 44,711 shares of the financial services provider’s stock, valued at approximately $1,289,000.

A number of other hedge funds have also modified their holdings of MPB. Wellington Management Group LLP boosted its stake in Mid Penn Bancorp by 14.3% in the 3rd quarter. Wellington Management Group LLP now owns 638,594 shares of the financial services provider’s stock worth $19,049,000 after purchasing an additional 79,851 shares during the period. Geode Capital Management LLC increased its stake in shares of Mid Penn Bancorp by 5.3% during the 3rd quarter. Geode Capital Management LLC now owns 350,375 shares of the financial services provider’s stock worth $10,454,000 after purchasing an additional 17,730 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Mid Penn Bancorp by 2.6% in the fourth quarter. Rhumbline Advisers now owns 24,386 shares of the financial services provider’s stock worth $703,000 after buying an additional 621 shares during the last quarter. Barclays PLC grew its holdings in Mid Penn Bancorp by 61.3% during the third quarter. Barclays PLC now owns 36,805 shares of the financial services provider’s stock valued at $1,098,000 after purchasing an additional 13,986 shares during the last quarter. Finally, Jane Street Group LLC raised its holdings in Mid Penn Bancorp by 72.7% in the 3rd quarter. Jane Street Group LLC now owns 22,145 shares of the financial services provider’s stock worth $661,000 after acquiring an additional 9,324 shares during the period. 43.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Mid Penn Bancorp

In other news, CEO Rory G. Ritrievi acquired 3,050 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were purchased at an average cost of $30.05 per share, for a total transaction of $91,652.50. Following the transaction, the chief executive officer now owns 7,385 shares of the company’s stock, valued at approximately $221,919.25. This represents a 70.36 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Soto Matthew G. De bought 2,575 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were acquired at an average price of $29.07 per share, for a total transaction of $74,855.25. Following the completion of the transaction, the director now owns 103,162 shares in the company, valued at approximately $2,998,919.34. This trade represents a 2.56 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 9,010 shares of company stock valued at $266,495 in the last ninety days. Insiders own 10.70% of the company’s stock.

Mid Penn Bancorp Stock Performance

MPB opened at $26.16 on Thursday. Mid Penn Bancorp, Inc. has a 12-month low of $19.20 and a 12-month high of $33.87. The stock’s 50 day moving average price is $28.01 and its two-hundred day moving average price is $29.55. The firm has a market capitalization of $506.35 million, a P/E ratio of 9.02 and a beta of 0.53. 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 (NASDAQ:MPB) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share for the quarter, hitting the consensus estimate of $0.71. Mid Penn Bancorp had a return on equity of 8.43% and a net margin of 15.99%. On average, equities analysts forecast that Mid Penn Bancorp, Inc. will post 3 earnings per share for the current year.

Mid Penn Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, February 7th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend was Friday, February 7th. Mid Penn Bancorp’s dividend payout ratio (DPR) is 27.59%.

Mid Penn Bancorp 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.