Lazard Asset Management LLC Purchases Shares of 9,878 Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Lazard Asset Management LLC acquired a new stake in Mid Penn Bancorp, Inc. (NASDAQ:MPB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,878 shares of the financial services provider's stock, valued at approximately $284,000. Lazard Asset Management LLC owned about 0.05% of Mid Penn Bancorp as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings 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 worth $41,881,000 after purchasing an additional 813,583 shares during the period. Vanguard Group Inc. raised its stake in Mid Penn Bancorp by 17.3% during the fourth quarter. Vanguard Group Inc. now owns 962,636 shares of the financial services provider's stock worth $27,762,000 after acquiring an additional 141,756 shares during the period. Dimensional Fund Advisors LP raised its stake in Mid Penn Bancorp by 6.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 475,533 shares of the financial services provider's stock worth $13,714,000 after acquiring an additional 29,400 shares during the period. Banc Funds Co. LLC lifted its holdings in Mid Penn Bancorp by 13.8% in the fourth quarter. Banc Funds Co. LLC now owns 412,552 shares of the financial services provider's stock worth $11,898,000 after acquiring an additional 50,000 shares during the last quarter. Finally, FJ Capital Management LLC acquired a new position in Mid Penn Bancorp in the fourth quarter valued at approximately $11,243,000. 43.11% of the stock is owned by institutional investors.

Mid Penn Bancorp Stock Performance

Shares of NASDAQ:MPB traded up $0.60 during trading on Tuesday, hitting $27.25. 32,363 shares of the company traded hands, compared to its average volume of 67,838. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.12. The business's fifty day moving average is $26.73 and its 200-day moving average is $28.57. The stock has a market capitalization of $527.35 million, a price-to-earnings ratio of 9.41 and a beta of 0.65. Mid Penn Bancorp, Inc. has a one year low of $20.03 and a one year high of $33.87.

Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 8.43% and a net margin of 15.99%. As a group, equities analysts predict 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 issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.94%. The ex-dividend date was Thursday, May 8th. Mid Penn Bancorp's dividend payout ratio (DPR) is presently 27.78%.

Insider Activity at Mid Penn Bancorp

In other Mid Penn Bancorp news, Director John E. Noone purchased 1,000 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were purchased at an average cost of $28.23 per share, for a total transaction of $28,230.00. Following the completion of the transaction, the director now owns 42,400 shares in the company, valued at $1,196,952. The trade was a 2.42% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Soto Matthew G. De acquired 3,560 shares of Mid Penn Bancorp stock in a transaction dated Friday, May 16th. The shares were acquired at an average price of $28.10 per share, with a total value of $100,036.00. Following the transaction, the director now owns 108,138 shares in the company, valued at approximately $3,038,677.80. This represents a 3.40% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 5,830 shares of company stock worth $164,182 over the last quarter. 8.10% of the stock is currently owned by company insiders.

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.