Retirement Planning Co of New England Inc. Purchases New Position in Mid Penn Bancorp (NASDAQ:MPB)

Retirement Planning Co of New England Inc. bought a new stake in Mid Penn Bancorp (NASDAQ:MPB - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of MPB. Bank of New York Mellon Corp increased its position in shares of Mid Penn Bancorp by 5.0% in the 1st quarter. Bank of New York Mellon Corp now owns 78,372 shares of the financial services provider's stock worth $2,031,000 after purchasing an additional 3,703 shares during the last quarter. GAMMA Investing LLC raised its holdings in Mid Penn Bancorp by 5,634.0% in the 1st quarter. GAMMA Investing LLC now owns 2,695 shares of the financial services provider's stock worth $70,000 after acquiring an additional 2,648 shares during the period. Wellington Management Group LLP raised its position in shares of Mid Penn Bancorp by 127.4% during the fourth quarter. Wellington Management Group LLP now owns 1,452,177 shares of the financial services provider's stock valued at $41,881,000 after buying an additional 813,583 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in Mid Penn Bancorp in the fourth quarter valued at about $252,000. Finally, Squarepoint Ops LLC bought a new position in shares of Mid Penn Bancorp during the fourth quarter valued at $499,000. Institutional investors and hedge funds own 43.11% of the company's stock.

Insider Transactions at Mid Penn Bancorp

In other news, Director John E. Noone purchased 1,000 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was bought at an average cost of $26.60 per share, for a total transaction of $26,600.00. Following the purchase, the director owned 43,400 shares of the company's stock, valued at approximately $1,154,440. The trade was a 2.36% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Soto Matthew G. De purchased 1,875 shares of Mid Penn Bancorp stock in a transaction dated Friday, May 23rd. The shares were purchased at an average price of $26.66 per share, for a total transaction of $49,987.50. Following the completion of the acquisition, the director owned 110,013 shares of the company's stock, valued at approximately $2,932,946.58. The trade was a 1.73% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 9,586 shares of company stock worth $265,659 over the last quarter. Corporate insiders own 8.10% of the company's stock.

Mid Penn Bancorp Trading Down 0.0%

Shares of NASDAQ MPB traded down $0.01 during midday trading on Monday, hitting $28.94. The stock had a trading volume of 54,852 shares, compared to its average volume of 73,751. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.96 and a quick ratio of 0.96. Mid Penn Bancorp has a fifty-two week low of $22.50 and a fifty-two week high of $33.87. The company's 50-day simple moving average is $27.84 and its 200 day simple moving average is $27.71. The firm has a market cap of $560.28 million, a P/E ratio of 10.05 and a beta of 0.64.

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

Mid Penn Bancorp Dividend Announcement

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

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.