Mendon Capital Advisors Corp Invests $1.90 Million in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Mendon Capital Advisors Corp purchased a new stake in Mid Penn Bancorp, Inc. (NASDAQ:MPB - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 65,992 shares of the financial services provider's stock, valued at approximately $1,903,000. Mid Penn Bancorp accounts for about 0.9% of Mendon Capital Advisors Corp's holdings, making the stock its 28th largest holding. Mendon Capital Advisors Corp owned approximately 0.34% of Mid Penn Bancorp at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MPB. Stonebridge Financial Group LLC purchased a new stake in shares of Mid Penn Bancorp during the 4th quarter valued at about $45,000. Emerald Advisers LLC raised its stake in shares of Mid Penn Bancorp by 261.6% during the fourth quarter. Emerald Advisers LLC now owns 2,419 shares of the financial services provider's stock valued at $70,000 after purchasing an additional 1,750 shares during the period. SG Americas Securities LLC lifted its position 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 in the last quarter. Mystic Asset Management Inc. purchased a new position in shares of Mid Penn Bancorp in the fourth quarter valued at $210,000. Finally, Semanteon Capital Management LP acquired a new stake in Mid Penn Bancorp during the 4th quarter valued at $228,000. 43.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Mid Penn Bancorp

In other news, CEO Rory G. Ritrievi purchased 3,050 shares of the stock in a transaction dated Monday, January 27th. The stock was acquired at an average cost of $30.05 per share, for a total transaction of $91,652.50. Following the acquisition, the chief executive officer now owns 7,385 shares of the company's stock, valued at $221,919.25. The trade was a 70.36 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Soto Matthew G. De acquired 2,575 shares of Mid Penn Bancorp stock in a transaction that occurred on Tuesday, February 4th. The shares were purchased at an average price of $29.07 per share, for a total transaction of $74,855.25. Following the completion of the purchase, the director now directly owns 103,162 shares of the company's stock, valued at $2,998,919.34. The trade was a 2.56 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 9,010 shares of company stock valued at $266,495 over the last ninety days. Corporate insiders own 8.10% of the company's stock.

Mid Penn Bancorp Stock Down 2.1 %

MPB stock traded down $0.61 during trading on Friday, reaching $27.77. The stock had a trading volume of 135,449 shares, compared to its average volume of 60,151. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12. The firm has a fifty day moving average price of $26.28 and a 200 day moving average price of $29.00. The company has a market capitalization of $537.52 million, a P/E ratio of 9.58 and a beta of 0.58. Mid Penn Bancorp, Inc. has a 1-year low of $19.75 and a 1-year high of $33.87.

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 EPS for the quarter, topping the consensus estimate 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 business had revenue of $47.75 million for the quarter, compared to analysts' expectations of $47.20 million. On average, equities analysts anticipate that Mid Penn Bancorp, Inc. will post 3 earnings per share for the current year.

Mid Penn Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 26th. Investors of record on Thursday, May 8th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.88%. Mid Penn Bancorp's dividend payout ratio (DPR) is presently 27.78%.

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.