Mid Penn Bancorp, Inc. (NASDAQ:MPB) Shares Purchased by Northern Trust Corp

Northern Trust Corp boosted its holdings in Mid Penn Bancorp, Inc. (NASDAQ:MPB - Free Report) by 10.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 142,242 shares of the financial services provider's stock after purchasing an additional 13,044 shares during the quarter. Northern Trust Corp owned approximately 0.73% of Mid Penn Bancorp worth $4,102,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MPB. Stonebridge Financial Group LLC acquired a new position in Mid Penn Bancorp in the fourth quarter worth $45,000. Emerald Advisers LLC lifted its stake in Mid Penn Bancorp by 261.6% in 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 lifted its stake in 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 valued at $187,000 after buying an additional 1,018 shares during the last quarter. Mystic Asset Management Inc. bought a new stake in Mid Penn Bancorp in the fourth quarter valued at $210,000. Finally, Semanteon Capital Management LP bought a new stake in Mid Penn Bancorp in the fourth quarter valued at $228,000. Institutional investors and hedge funds own 43.11% of the company's stock.

Insider Buying and Selling at Mid Penn Bancorp

In related news, Director John E. Noone acquired 1,000 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were acquired at an average cost of $28.23 per share, for a total transaction of $28,230.00. Following the completion of the purchase, the director now directly owns 42,400 shares in the company, valued at $1,196,952. This trade represents a 2.42% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Soto Matthew G. De acquired 3,560 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were bought at an average price of $28.10 per share, for a total transaction of $100,036.00. Following the completion of the purchase, the director now 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 three months, insiders have purchased 5,830 shares of company stock worth $164,182. 8.10% of the stock is owned by insiders.

Mid Penn Bancorp Stock Performance

MPB stock opened at $26.89 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.94 and a current ratio of 0.95. The stock has a market capitalization of $520.48 million, a price-to-earnings ratio of 9.27 and a beta of 0.65. Mid Penn Bancorp, Inc. has a 1 year low of $20.03 and a 1 year high of $33.87. The stock's fifty day moving average is $26.71 and its two-hundred day moving average is $28.68.

Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.10. The company had revenue of $47.75 million for 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%. On average, research analysts predict that Mid Penn Bancorp, Inc. will post 3 EPS for the current year.

Mid Penn Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 26th. Shareholders of record on Thursday, May 8th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Thursday, May 8th. Mid Penn Bancorp's payout ratio is 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.

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