Wellington Management Group LLP Purchases 813,583 Shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Wellington Management Group LLP raised its holdings in Mid Penn Bancorp, Inc. (NASDAQ:MPB - Free Report) by 127.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,452,177 shares of the financial services provider's stock after buying an additional 813,583 shares during the quarter. Wellington Management Group LLP owned 7.50% of Mid Penn Bancorp worth $41,881,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of MPB. Stonebridge Financial Group LLC acquired a new position in Mid Penn Bancorp during the 4th quarter valued at about $45,000. Emerald Advisers LLC grew its position in shares of Mid Penn Bancorp by 261.6% during the 4th quarter. Emerald Advisers LLC now owns 2,419 shares of the financial services provider's stock valued at $70,000 after acquiring an additional 1,750 shares during the period. SG Americas Securities LLC raised its position 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 valued at $187,000 after purchasing an additional 1,018 shares during the period. Mystic Asset Management Inc. bought a new position in Mid Penn Bancorp in the 4th quarter worth approximately $210,000. Finally, Semanteon Capital Management LP bought a new stake in Mid Penn Bancorp during the 4th quarter valued at $228,000. Institutional investors and hedge funds own 43.11% of the company's stock.

Mid Penn Bancorp Stock Performance

Shares of Mid Penn Bancorp stock traded up $0.28 during trading hours on Tuesday, reaching $26.54. The company had a trading volume of 13,427 shares, compared to its average volume of 67,011. Mid Penn Bancorp, Inc. has a one year low of $20.03 and a one year high of $33.87. The business has a fifty day simple moving average of $26.82 and a 200 day simple moving average of $28.37. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.95 and a quick ratio of 0.94. The firm has a market cap of $513.71 million, a PE ratio of 9.15 and a beta of 0.65.

Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.10. The firm had revenue of $47.75 million for the quarter, compared to analysts' expectations of $47.20 million. Mid Penn Bancorp had a net margin of 15.99% and a return on equity of 8.43%. On average, analysts anticipate that Mid Penn Bancorp, Inc. will post 3 earnings per share for the current fiscal year.

Mid Penn Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 26th. Stockholders of record on Thursday, May 8th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.01%. Mid Penn Bancorp's dividend payout ratio (DPR) is presently 27.78%.

Insider Buying and Selling

In related news, Director John E. Noone acquired 1,000 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were purchased at an average price of $28.23 per share, for a total transaction of $28,230.00. Following the completion of the acquisition, the director now owns 42,400 shares in the company, valued at approximately $1,196,952. This represents a 2.42% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Soto Matthew G. De purchased 3,560 shares of the company's stock in a transaction on Friday, May 16th. The shares were purchased at an average cost of $28.10 per share, with a total value of $100,036.00. Following the transaction, the director now directly owns 108,138 shares in the company, valued at $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 three months, insiders have purchased 8,705 shares of company stock worth $240,769. Insiders own 8.10% of the company's stock.

Mid Penn Bancorp 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.