10,870 Shares in Mid Penn Bancorp (NASDAQ:MPB) Purchased by Retirement Planning Co of New England Inc.

Retirement Planning Co of New England Inc. purchased a new position in Mid Penn Bancorp (NASDAQ:MPB - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 10,870 shares of the financial services provider's stock, valued at approximately $282,000. Retirement Planning Co of New England Inc. owned approximately 0.06% of Mid Penn Bancorp at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its position in Mid Penn Bancorp by 19.7% in the 4th quarter. Bank of New York Mellon Corp now owns 74,669 shares of the financial services provider's stock worth $2,153,000 after purchasing an additional 12,297 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Mid Penn Bancorp by 15.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 47,355 shares of the financial services provider's stock valued at $1,366,000 after buying an additional 6,439 shares during the period. Raymond James Financial Inc. bought a new stake in Mid Penn Bancorp in the fourth quarter valued at about $1,289,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in Mid Penn Bancorp by 159.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,151 shares of the financial services provider's stock valued at $1,360,000 after buying an additional 28,975 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in Mid Penn Bancorp by 115.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 19,654 shares of the financial services provider's stock worth $567,000 after purchasing an additional 10,540 shares during the last quarter. 43.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Mid Penn Bancorp

In other Mid Penn Bancorp news, Director Soto Matthew G. De purchased 3,560 shares of the company's stock in a transaction dated Friday, May 16th. The stock was bought at an average cost of $28.10 per share, for a total transaction of $100,036.00. Following the completion of the transaction, the director owned 108,138 shares in the company, valued at approximately $3,038,677.80. This represents a 3.40% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director John E. Noone bought 1,000 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was purchased at an average price of $26.60 per share, with a total value of $26,600.00. Following the completion of the transaction, the director directly owned 43,400 shares in the company, valued at approximately $1,154,440. This represents a 2.36% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 9,586 shares of company stock valued at $265,659 over the last quarter. 8.10% of the stock is currently owned by corporate insiders.

Mid Penn Bancorp Price Performance

MPB opened at $29.00 on Friday. The company has a fifty day moving average price of $27.82 and a two-hundred day moving average price of $27.72. Mid Penn Bancorp has a 52 week low of $22.50 and a 52 week high of $33.87. The firm has a market capitalization of $561.44 million, a PE ratio of 10.07 and a beta of 0.64. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.96 and a current ratio of 0.96.

Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.62 by $0.10. The business had revenue of $47.75 million for the quarter, compared to analysts' expectations of $47.20 million. Mid Penn Bancorp had a net margin of 16.36% and a return on equity of 8.23%. As a group, analysts anticipate that Mid Penn Bancorp will post 3 earnings per share for the current year.

Mid Penn Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 26th. Investors of record on Thursday, May 8th were paid a $0.20 dividend. The ex-dividend date was Thursday, May 8th. This represents a $0.80 annualized dividend and a dividend yield of 2.76%. Mid Penn Bancorp's dividend payout ratio is presently 27.78%.

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.

Want to see what other hedge funds are holding MPB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mid Penn Bancorp (NASDAQ:MPB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.