JPMorgan Chase & Co. Purchases 25,267 Shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB)

JPMorgan Chase & Co. lifted its position in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB - Free Report) by 40.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 87,809 shares of the financial services provider's stock after purchasing an additional 25,267 shares during the period. JPMorgan Chase & Co. owned 0.45% of Mid Penn Bancorp worth $2,532,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Stonebridge Financial Group LLC bought a new stake in shares of Mid Penn Bancorp during the 4th quarter worth 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 worth $70,000 after purchasing an additional 1,750 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Mid Penn Bancorp by 18.6% during the fourth quarter. SG Americas Securities LLC now owns 6,484 shares of the financial services provider's stock worth $187,000 after purchasing an additional 1,018 shares during the period. Mystic Asset Management Inc. bought a new position in shares of Mid Penn Bancorp during the fourth quarter worth approximately $210,000. Finally, Semanteon Capital Management LP bought a new stake in shares of Mid Penn Bancorp in the fourth quarter valued at approximately $228,000. 43.11% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Mid Penn Bancorp news, CEO Rory G. Ritrievi purchased 3,365 shares of the firm's stock in a transaction dated Friday, February 14th. The shares were bought at an average price of $29.56 per share, for a total transaction of $99,469.40. Following the purchase, the chief executive officer now owns 10,750 shares in the company, valued at approximately $317,770. This trade represents a 45.57 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Soto Matthew G. De purchased 2,575 shares of the firm's stock in a transaction dated Tuesday, February 4th. The stock was acquired at an average price of $29.07 per share, for a total transaction of $74,855.25. Following the purchase, the director now owns 103,162 shares in the company, valued at approximately $2,998,919.34. The trade was a 2.56 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 5,960 shares of company stock worth $174,843 in the last 90 days. Company insiders own 8.10% of the company's stock.

Mid Penn Bancorp Price Performance

NASDAQ:MPB traded up $0.80 during trading hours on Monday, reaching $28.57. 164,690 shares of the company were exchanged, compared to its average volume of 60,569. The business has a 50 day moving average of $26.26 and a 200 day moving average of $28.99. Mid Penn Bancorp, Inc. has a 1-year low of $19.75 and a 1-year high of $33.87. 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 company has a market capitalization of $553.00 million, a P/E ratio of 9.85 and a beta of 0.58.

Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.10. Mid Penn Bancorp had a return on equity of 8.43% and a net margin of 15.99%. The firm had revenue of $47.75 million for the quarter, compared to analyst estimates of $47.20 million. Research analysts forecast that Mid Penn Bancorp, Inc. will post 3 EPS for the current year.

Mid Penn Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 26th. Shareholders of record on Thursday, May 8th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.80%. Mid Penn Bancorp's dividend payout ratio (DPR) is presently 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.