Nuveen Asset Management LLC trimmed its holdings in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB - Free Report) by 34.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,067 shares of the financial services provider's stock after selling 20,650 shares during the quarter. Nuveen Asset Management LLC owned 0.20% of Mid Penn Bancorp worth $1,127,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake 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 buying an additional 813,583 shares during the period. Vanguard Group Inc. raised its position in shares of Mid Penn Bancorp by 17.3% during the 4th quarter. Vanguard Group Inc. now owns 962,636 shares of the financial services provider's stock worth $27,762,000 after purchasing an additional 141,756 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Mid Penn Bancorp by 6.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 475,533 shares of the financial services provider's stock worth $13,714,000 after purchasing an additional 29,400 shares during the last quarter. Banc Funds Co. LLC grew its stake in Mid Penn Bancorp by 13.8% during the 4th quarter. Banc Funds Co. LLC now owns 412,552 shares of the financial services provider's stock valued at $11,898,000 after acquiring an additional 50,000 shares in the last quarter. Finally, FJ Capital Management LLC purchased a new stake in Mid Penn Bancorp during the 4th quarter valued at about $11,243,000. 43.11% of the stock is owned by hedge funds and other institutional investors.
Mid Penn Bancorp Trading Up 2.2%
Shares of Mid Penn Bancorp stock traded up $0.57 during mid-day trading on Friday, hitting $26.53. The stock had a trading volume of 70,570 shares, compared to its average volume of 67,345. The firm has a 50-day moving average of $26.85 and a two-hundred day moving average of $28.23. Mid Penn Bancorp, Inc. has a 12-month low of $20.03 and a 12-month high of $33.87. 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 firm has a market cap of $513.51 million, a P/E ratio of 9.15 and a beta of 0.63.
Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) last issued its quarterly earnings data 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 15.99% and a return on equity of 8.43%. The firm had revenue of $47.75 million for the quarter, compared to analyst estimates of $47.20 million. Sell-side analysts forecast that Mid Penn Bancorp, Inc. will post 3 earnings per share for the current year.
Mid Penn Bancorp Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 26th. Shareholders of record on Thursday, May 8th were given a dividend of $0.20 per share. 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 payout ratio is currently 27.78%.
Insiders Place Their Bets
In other news, Director John E. Noone bought 1,000 shares of the firm's stock in a transaction dated Monday, April 28th. The stock was acquired at an average cost of $28.18 per share, for a total transaction of $28,180.00. Following the completion of the purchase, the director now owns 41,400 shares of the company's stock, valued at $1,166,652. This trade represents a 2.48% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Soto Matthew G. De purchased 3,560 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was bought at an average cost of $28.10 per share, for a total transaction of $100,036.00. Following the completion of the acquisition, the director now directly owns 108,138 shares of the company's stock, valued at $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. In the last three months, insiders have acquired 8,705 shares of company stock valued at $240,769. Insiders own 8.10% of the company's stock.
Mid Penn Bancorp Profile
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Free Report)
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.
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