Prudential Financial Inc. Invests $525,000 in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Prudential Financial Inc. acquired a new position in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 18,200 shares of the financial services provider's stock, valued at approximately $525,000. Prudential Financial Inc. owned 0.09% of Mid Penn Bancorp at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new stake in Mid Penn Bancorp during the 4th quarter valued at approximately $45,000. Emerald Advisers LLC lifted its position in Mid Penn Bancorp by 261.6% during 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 boosted its holdings in Mid Penn Bancorp by 18.6% in the fourth quarter. SG Americas Securities LLC now owns 6,484 shares of the financial services provider's stock valued at $187,000 after purchasing an additional 1,018 shares during the last quarter. Mystic Asset Management Inc. purchased a new position in shares of Mid Penn Bancorp during the 4th quarter valued at about $210,000. Finally, Semanteon Capital Management LP acquired a new position in shares of Mid Penn Bancorp in the 4th quarter valued at about $228,000. 43.11% of the stock is owned by hedge funds and other institutional investors.

Mid Penn Bancorp Stock Performance

Mid Penn Bancorp stock traded up $0.50 during midday trading on Tuesday, hitting $25.28. 12,407 shares of the company were exchanged, compared to its average volume of 58,349. The business has a fifty day simple moving average of $26.91 and a two-hundred day simple moving average of $29.18. 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 $489.24 million, a PE ratio of 8.72 and a beta of 0.58. Mid Penn Bancorp, Inc. has a fifty-two week low of $19.20 and a fifty-two week high of $33.87.

Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) last issued its quarterly earnings data 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 net margin of 15.99% and a return on equity of 8.43%. On average, sell-side analysts forecast that Mid Penn Bancorp, Inc. will post 3 earnings per share for the current year.

Mid Penn Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, February 7th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.17%. Mid Penn Bancorp's dividend payout ratio (DPR) is currently 27.59%.

Insider Transactions at Mid Penn Bancorp

In other Mid Penn Bancorp news, CEO Rory G. Ritrievi bought 3,365 shares of the firm's stock in a transaction dated Friday, February 14th. The shares were purchased at an average price of $29.56 per share, for a total transaction of $99,469.40. Following the transaction, the chief executive officer now directly owns 10,750 shares of the company's stock, valued at approximately $317,770. This represents a 45.57 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Soto Matthew G. De purchased 2,575 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was bought at an average cost of $29.07 per share, with a total value of $74,855.25. Following the acquisition, the director now owns 103,162 shares in the company, 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 have bought a total of 9,010 shares of company stock valued at $266,495 in the last ninety days. 10.70% of the stock is currently owned by corporate insiders.

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.