Insider Buying: Mid Penn Bancorp (NASDAQ:MPB) Director Buys 1,525 Shares of Stock

Key Points

• Insider purchase: Director Matthew De Soto bought 1,525 shares on May 4 at an average price of $32.75 (total ≈ $49,944), raising his direct stake to 118,696 shares — a 1.30% ownership increase.
• Q1 results showed EPS of $0.64, missing the $0.80 consensus while revenue of $64.85M beat expectations; the company also declared a $0.22 quarterly dividend (annualized $0.88, ~2.6% yield, 40% payout ratio).
• Shares traded at $33.29 (+1.7%), with a market cap of about $843.6M, a PE of 15.13 and a 52-week range of $25.82–$35.22; analysts’ consensus rating is Buy with an average $37 price target.

Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) Director Soto Matthew De purchased 1,525 shares of the stock in a transaction on Monday, May 4th. The shares were purchased at an average price of $32.75 per share, with a total value of $49,943.75. Following the acquisition, the director directly owned 118,696 shares in the company, valued at $3,887,294. This represents a 1.30% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Mid Penn Bancorp Stock Up 1.7%

NASDAQ MPB traded up $0.55 on Tuesday, hitting $33.29. 56,256 shares of the stock were exchanged, compared to its average volume of 143,861. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.03. Mid Penn Bancorp has a fifty-two week low of $25.82 and a fifty-two week high of $35.22. The company has a market cap of $843.57 million, a PE ratio of 15.13 and a beta of 0.49. The company has a 50-day moving average price of $32.63 and a 200-day moving average price of $31.53.

Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.16). The company had revenue of $64.85 million for the quarter, compared to analysts' expectations of $63.15 million. Mid Penn Bancorp had a return on equity of 8.55% and a net margin of 13.95%.

Mid Penn Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, May 4th will be given a $0.22 dividend. The ex-dividend date is Monday, May 4th. This represents a $0.88 annualized dividend and a yield of 2.6%. Mid Penn Bancorp's dividend payout ratio is 40.00%.

Institutional Trading of Mid Penn Bancorp

Hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in Mid Penn Bancorp by 107.5% during the first quarter. AQR Capital Management LLC now owns 22,730 shares of the financial services provider's stock worth $589,000 after buying an additional 11,774 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Mid Penn Bancorp by 21.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,361 shares of the financial services provider's stock worth $268,000 after buying an additional 1,796 shares during the period. Empowered Funds LLC grew its position in Mid Penn Bancorp by 55.2% during the first quarter. Empowered Funds LLC now owns 57,505 shares of the financial services provider's stock worth $1,490,000 after buying an additional 20,442 shares during the period. Legal & General Group Plc grew its position in Mid Penn Bancorp by 35.6% during the second quarter. Legal & General Group Plc now owns 1,877 shares of the financial services provider's stock worth $53,000 after buying an additional 493 shares during the period. Finally, Rhumbline Advisers grew its position in Mid Penn Bancorp by 19.5% during the second quarter. Rhumbline Advisers now owns 28,696 shares of the financial services provider's stock worth $809,000 after buying an additional 4,677 shares during the period. Institutional investors and hedge funds own 43.11% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on MPB. Weiss Ratings upgraded shares of Mid Penn Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, February 23rd. Wall Street Zen downgraded shares of Mid Penn Bancorp from a "buy" rating to a "hold" rating in a research report on Saturday, January 24th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $37.00.

About Mid Penn Bancorp

Mid Penn Bancorp, Inc is a bank holding company headquartered in Hummelstown, Pennsylvania, serving as the parent of Mid Penn Bank. As a full-service financial institution, Mid Penn Bank operates a network of branches across central Pennsylvania, delivering retail and commercial banking services to individuals, families and businesses in its regional markets.

Through its banking subsidiary, the company offers a broad range of deposit products, including checking accounts, savings accounts and certificates of deposit, alongside consumer and commercial lending solutions.

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