Ameriprise Financial Inc. Acquires Shares of 13,700 Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Ameriprise Financial Inc. acquired a new stake in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its position in shares of Mid Penn Bancorp by 2.6% during the 4th quarter. Rhumbline Advisers now owns 24,386 shares of the financial services provider's stock valued at $703,000 after acquiring an additional 621 shares during the period. Raymond James Financial Inc. purchased a new position in Mid Penn Bancorp during the fourth quarter valued at $1,289,000. Thrivent Financial for Lutherans grew its holdings in Mid Penn Bancorp by 115.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 19,654 shares of the financial services provider's stock valued at $567,000 after purchasing an additional 10,540 shares during the period. Mendon Capital Advisors Corp purchased a new stake in Mid Penn Bancorp in the fourth quarter worth about $1,903,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Mid Penn Bancorp by 6.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 475,533 shares of the financial services provider's stock worth $13,714,000 after buying an additional 29,400 shares during the period. Institutional investors own 43.11% of the company's stock.

Insider Buying and Selling

In related news, Director Soto Matthew G. De purchased 1,875 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was bought at an average cost of $26.66 per share, for a total transaction of $49,987.50. Following the completion of the transaction, the director now directly owns 110,013 shares in the company, valued at $2,932,946.58. This represents a 1.73% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John E. Noone acquired 1,000 shares of the business's stock in a transaction on Monday, April 28th. The shares were purchased at an average price of $28.18 per share, for a total transaction of $28,180.00. Following the transaction, the director now directly owns 41,400 shares of the company's stock, valued at approximately $1,166,652. The trade was a 2.48% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 8,705 shares of company stock worth $240,769. Insiders own 8.10% of the company's stock.

Mid Penn Bancorp Price Performance

Shares of NASDAQ MPB traded up $0.57 during midday trading on Friday, reaching $26.53. The stock had a trading volume of 70,570 shares, compared to its average volume of 66,971. The stock has a 50-day moving average of $26.84 and a 200-day moving average of $28.31. Mid Penn Bancorp, Inc. has a 12-month low of $20.03 and a 12-month high of $33.87. The company has a market capitalization of $513.51 million, a price-to-earnings 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 (NASDAQ:MPB - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.10. The business had revenue of $47.75 million during the quarter, compared to analysts' expectations of $47.20 million. Mid Penn Bancorp had a return on equity of 8.43% and a net margin of 15.99%. As a group, research analysts anticipate that Mid Penn Bancorp, Inc. will post 3 EPS for the current fiscal year.

Mid Penn Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 26th. Investors of record on Thursday, May 8th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.02%. The ex-dividend date was Thursday, May 8th. 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.