47,676 Shares in Mid Penn Bancorp $MPB Acquired by Nuveen LLC

Key Points

• Nuveen LLC has acquired a new stake in Mid Penn Bancorp, purchasing 47,676 shares valued at approximately $1,235,000, which constitutes about 0.25% of the company.
• In recent analyst ratings, Keefe, Bruyette & Woods reduced the price target for Mid Penn Bancorp from $35.00 to $34.00, while the stock maintains an average rating of "Buy."
• Mid Penn Bancorp recently announced a quarterly dividend of $0.20 per share, representing a yield of 2.7%, with a payout ratio currently at 33.47%.

Nuveen LLC bought a new position in shares of Mid Penn Bancorp (NASDAQ:MPB - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 47,676 shares of the financial services provider's stock, valued at approximately $1,235,000. Nuveen LLC owned 0.25% of Mid Penn Bancorp as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in Mid Penn Bancorp by 5,634.0% in the first quarter. GAMMA Investing LLC now owns 2,695 shares of the financial services provider's stock worth $70,000 after purchasing an additional 2,648 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Mid Penn Bancorp by 4.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,565 shares of the financial services provider's stock worth $247,000 after purchasing an additional 380 shares during the period. Jefferies Financial Group Inc. purchased a new stake in Mid Penn Bancorp in the fourth quarter worth about $252,000. Retirement Planning Co of New England Inc. purchased a new stake in Mid Penn Bancorp in the first quarter worth about $282,000. Finally, Mystic Asset Management Inc. grew its holdings in Mid Penn Bancorp by 49.5% in the first quarter. Mystic Asset Management Inc. now owns 10,870 shares of the financial services provider's stock worth $282,000 after purchasing an additional 3,600 shares during the period. Hedge funds and other institutional investors own 43.11% of the company's stock.

Mid Penn Bancorp Stock Up 0.2%

Shares of NASDAQ:MPB traded up $0.07 during trading on Thursday, reaching $30.06. 16,786 shares of the stock traded hands, compared to its average volume of 95,330. The stock has a 50-day moving average of $28.68 and a two-hundred day moving average of $27.53. Mid Penn Bancorp has a 52-week low of $22.50 and a 52-week high of $33.87. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.94 and a current ratio of 0.95. The stock has a market cap of $691.27 million, a P/E ratio of 12.58 and a beta of 0.65.

Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.01. Mid Penn Bancorp had a net margin of 13.69% and a return on equity of 8.13%. The firm had revenue of $54.35 million for the quarter, compared to analysts' expectations of $54.20 million. As a group, sell-side analysts expect that Mid Penn Bancorp will post 3 earnings per share for the current fiscal year.

Mid Penn Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Friday, August 8th were issued a $0.20 dividend. The ex-dividend date was Friday, August 8th. This represents a $0.80 annualized dividend and a yield of 2.7%. Mid Penn Bancorp's dividend payout ratio (DPR) is currently 33.47%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods cut their price objective on shares of Mid Penn Bancorp from $35.00 to $34.00 and set an "outperform" rating on the stock in a report on Monday, August 4th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Mid Penn Bancorp has a consensus rating of "Buy" and a consensus target price of $34.50.

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.