FJ Capital Management LLC Makes New Investment in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

FJ Capital Management LLC bought a new position in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 389,845 shares of the financial services provider's stock, valued at approximately $11,243,000. Mid Penn Bancorp makes up about 1.3% of FJ Capital Management LLC's portfolio, making the stock its 27th biggest position. FJ Capital Management LLC owned approximately 2.01% of Mid Penn Bancorp at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP lifted its stake in shares of Mid Penn Bancorp by 127.4% in the fourth quarter. Wellington Management Group LLP now owns 1,452,177 shares of the financial services provider's stock valued at $41,881,000 after buying an additional 813,583 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Mid Penn Bancorp by 17.3% in the fourth quarter. Vanguard Group Inc. now owns 962,636 shares of the financial services provider's stock valued at $27,762,000 after buying an additional 141,756 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Mid Penn Bancorp by 6.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 475,533 shares of the financial services provider's stock valued at $13,714,000 after buying an additional 29,400 shares in the last quarter. Banc Funds Co. LLC lifted its stake in shares of 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 valued at $11,898,000 after buying an additional 50,000 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Mid Penn Bancorp by 8.4% in the fourth quarter. Geode Capital Management LLC now owns 379,639 shares of the financial services provider's stock valued at $10,952,000 after buying an additional 29,264 shares in the last quarter. 43.11% of the stock is owned by institutional investors.

Mid Penn Bancorp Stock Down 2.7%

Shares of Mid Penn Bancorp stock traded down $0.77 during trading hours on Friday, reaching $28.17. The company's stock had a trading volume of 98,852 shares, compared to its average volume of 65,818. 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's fifty day simple moving average is $26.35 and its two-hundred day simple moving average is $28.85. Mid Penn Bancorp, Inc. has a one year low of $20.03 and a one year high of $33.87. The company has a market capitalization of $545.26 million, a P/E ratio of 9.71 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, beating analysts' consensus estimates 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 company had revenue of $47.75 million for the quarter, compared to analyst estimates of $47.20 million. On average, research analysts forecast that Mid Penn Bancorp, Inc. will post 3 earnings per share for the current year.

Mid Penn Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 26th. Investors of record on Thursday, May 8th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Thursday, May 8th. Mid Penn Bancorp's payout ratio is currently 27.78%.

Insider Activity at Mid Penn Bancorp

In other news, CEO Rory G. Ritrievi purchased 3,365 shares of the company's stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average cost of $29.56 per share, with a total value of $99,469.40. Following the completion of the transaction, the chief executive officer now directly owns 10,750 shares of the company's stock, valued at approximately $317,770. This trade represents a 45.57% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John E. Noone purchased 1,000 shares of the company's stock in a transaction that occurred on Monday, April 28th. The shares were purchased at an average cost of $28.18 per share, for a total transaction of $28,180.00. Following the completion of the transaction, the director now directly owns 41,400 shares of the company's stock, valued at $1,166,652. This represents a 2.48% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 4,385 shares of company stock valued at $128,168 over the last ninety days. Corporate insiders own 8.10% of the company's stock.

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.