Lazard Asset Management LLC Purchases New Position in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Lazard Asset Management LLC purchased a new position in Mid Penn Bancorp, Inc. (NASDAQ:MPB - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,878 shares of the financial services provider's stock, valued at approximately $284,000. Lazard Asset Management LLC owned 0.05% of Mid Penn Bancorp as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Barclays PLC grew its stake in shares of Mid Penn Bancorp by 1.2% in the fourth quarter. Barclays PLC now owns 37,257 shares of the financial services provider's stock worth $1,074,000 after acquiring an additional 452 shares during the period. Rhumbline Advisers grew its stake in shares of 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 acquiring an additional 621 shares during the period. SG Americas Securities LLC grew its stake in shares of Mid Penn Bancorp by 18.6% in the fourth quarter. SG Americas Securities LLC now owns 6,484 shares of the financial services provider's stock worth $187,000 after acquiring an additional 1,018 shares during the period. Stonebridge Financial Group LLC bought a new stake in shares of Mid Penn Bancorp in the fourth quarter worth approximately $45,000. Finally, Empowered Funds LLC grew its stake in shares of Mid Penn Bancorp by 4.8% in the fourth quarter. Empowered Funds LLC now owns 37,063 shares of the financial services provider's stock worth $1,069,000 after acquiring an additional 1,713 shares during the period. 43.11% of the stock is currently owned by institutional investors.

Insider Activity at Mid Penn Bancorp

In related news, Director John E. Noone purchased 1,000 shares of Mid Penn Bancorp stock in a transaction on Monday, April 28th. The stock was acquired at an average price of $28.18 per share, for a total transaction of $28,180.00. Following the completion of the transaction, the director now directly owns 41,400 shares in the company, valued at $1,166,652. This represents a 2.48% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Soto Matthew G. De purchased 3,560 shares of the company's stock in a transaction on Friday, May 16th. The stock was purchased at an average price of $28.10 per share, with a total value of $100,036.00. Following the completion of the transaction, the director now owns 108,138 shares of the company's stock, valued at approximately $3,038,677.80. This trade represents a 3.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 8,705 shares of company stock worth $240,769. 8.10% of the stock is owned by company insiders.

Mid Penn Bancorp Stock Performance

NASDAQ MPB traded down $0.40 during trading hours on Wednesday, hitting $26.87. 4,333 shares of the company's stock traded hands, compared to its average volume of 67,767. The business's fifty day moving average price is $26.76 and its two-hundred day moving average price is $28.56. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $520.06 million, a P/E ratio of 9.29 and a beta of 0.65. Mid Penn Bancorp, Inc. has a 52 week low of $20.03 and a 52 week high of $33.87.

Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.10. The company 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 predict that Mid Penn Bancorp, Inc. will post 3 EPS for the current year.

Mid Penn Bancorp Dividend Announcement

The firm also recently announced 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 2.98%. Mid Penn Bancorp's dividend payout ratio (DPR) 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.