Ameriprise Financial Inc. Takes $395,000 Position in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Ameriprise Financial Inc. bought a new position in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 13,700 shares of the financial services provider's stock, valued at approximately $395,000. Ameriprise Financial Inc. owned about 0.07% of Mid Penn Bancorp at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MPB. Stonebridge Financial Group LLC acquired a new position in Mid Penn Bancorp during the 4th quarter worth $45,000. Emerald Advisers LLC raised its position in shares of 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 buying an additional 1,750 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Mid Penn Bancorp by 18.6% during the fourth quarter. SG Americas Securities LLC now owns 6,484 shares of the financial services provider's stock valued at $187,000 after buying an additional 1,018 shares during the last quarter. Mystic Asset Management Inc. acquired a new position in shares of Mid Penn Bancorp during the fourth quarter valued at about $210,000. Finally, Semanteon Capital Management LP acquired a new position in shares of Mid Penn Bancorp during the fourth quarter valued at about $228,000. Institutional investors and hedge funds own 43.11% of the company's stock.

Insider Activity

In other Mid Penn Bancorp news, Director John E. Noone purchased 1,000 shares of the company's stock in a transaction that occurred on 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 now directly owns 43,400 shares of the company's stock, valued at approximately $1,154,440. This trade represents a 2.36% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Soto Matthew G. De purchased 3,560 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was acquired at an average cost of $28.10 per share, with a total value of $100,036.00. Following the transaction, the director now directly owns 108,138 shares of the company's stock, valued at approximately $3,038,677.80. This represents a 3.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 8,705 shares of company stock valued at $240,769. Insiders own 8.10% of the company's stock.

Mid Penn Bancorp Stock Performance

Shares of MPB traded up $0.57 during trading hours on Friday, reaching $26.53. 70,570 shares of the company traded hands, compared to its average volume of 67,345. The stock's fifty day moving average is $26.85 and its 200 day moving average is $28.23. The stock has a market cap of $513.51 million, a P/E ratio of 9.15 and a beta of 0.63. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.94 and a current ratio of 0.95. Mid Penn Bancorp, Inc. has a 1-year low of $20.03 and a 1-year high of $33.87.

Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.10. The business had revenue of $47.75 million during the quarter, compared to analyst estimates of $47.20 million. Mid Penn Bancorp had a net margin of 15.99% and a return on equity of 8.43%. Equities research analysts anticipate that Mid Penn Bancorp, Inc. will post 3 earnings per share for the current fiscal year.

Mid Penn Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 26th. Stockholders of record on Thursday, May 8th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend was Thursday, May 8th. Mid Penn Bancorp's dividend payout ratio is currently 27.78%.

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.