Emerald Mutual Fund Advisers Trust Increases Stake in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Emerald Mutual Fund Advisers Trust lifted its holdings in Mid Penn Bancorp, Inc. (NASDAQ:MPB - Free Report) by 44.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 156,338 shares of the financial services provider's stock after acquiring an additional 48,250 shares during the period. Emerald Mutual Fund Advisers Trust owned 0.81% of Mid Penn Bancorp worth $4,509,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings in shares of Mid Penn Bancorp by 5.3% in 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 period. Rhumbline Advisers lifted its position in 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 boosted its stake 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 worth $1,098,000 after buying an additional 13,986 shares during the period. Jane Street Group LLC increased its position in Mid Penn Bancorp by 72.7% during the third quarter. Jane Street Group LLC now owns 22,145 shares of the financial services provider's stock valued at $661,000 after acquiring an additional 9,324 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of Mid Penn Bancorp by 115.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 19,654 shares of the financial services provider's stock valued at $567,000 after acquiring an additional 10,540 shares during the period. Hedge funds and other institutional investors own 43.11% of the company's stock.

Mid Penn Bancorp Trading Up 0.7 %

Shares of MPB stock traded up $0.20 during trading hours on Friday, reaching $29.27. 110,229 shares of the stock were exchanged, compared to its average volume of 64,186. Mid Penn Bancorp, Inc. has a 12-month low of $20.03 and a 12-month high of $33.87. The company's 50-day moving average price is $26.29 and its 200-day moving average price is $28.93. The firm has a market capitalization of $566.55 million, a price-to-earnings ratio of 10.09 and a beta of 0.58. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12.

Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.10. Mid Penn Bancorp had a net margin of 15.99% and a return on equity of 8.43%. The firm had revenue of $47.75 million for the quarter, compared to analysts' expectations of $47.20 million. As a group, equities analysts anticipate 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 will be paid on Monday, May 26th. Investors of record on Thursday, May 8th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $0.80 annualized dividend and a dividend yield of 2.73%. Mid Penn Bancorp's payout ratio is currently 27.78%.

Insider Activity

In related news, CEO Rory G. Ritrievi bought 3,365 shares of the company's stock in a transaction on Friday, February 14th. The shares were bought at an average price of $29.56 per share, with a total value of $99,469.40. Following the transaction, the chief executive officer now owns 10,750 shares in the company, valued at approximately $317,770. This trade represents a 45.57 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Soto Matthew G. De bought 2,575 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was purchased at an average cost 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 $2,998,919.34. This trade represents a 2.56 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 6,960 shares of company stock worth $203,023. 8.10% of the stock is currently owned by corporate insiders.

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.