Insider Buying: Mid Penn Bancorp, Inc. (NASDAQ:MPB) Director Buys 1,875 Shares of Stock

Mid Penn Bancorp, Inc. (NASDAQ:MPB - Get Free Report) Director Soto Matthew G. De acquired 1,875 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The shares were bought at an average cost of $26.66 per share, for a total transaction of $49,987.50. Following the purchase, the director now owns 110,013 shares of the company's stock, valued at approximately $2,932,946.58. The trade was a 1.73% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Mid Penn Bancorp Price Performance

Shares of MPB traded down $0.17 during trading hours on Friday, reaching $26.72. 48,037 shares of the company traded hands, compared to its average volume of 68,280. The stock has a market capitalization of $517.19 million, a PE ratio of 9.21 and a beta of 0.65. The stock has a fifty day simple moving average of $26.82 and a 200 day simple moving average of $28.46. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.12. Mid Penn Bancorp, Inc. has a fifty-two week low of $20.03 and a fifty-two week high of $33.87.

Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, beating 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 business had revenue of $47.75 million during the quarter, compared to analyst estimates of $47.20 million. As a group, research analysts predict that Mid Penn Bancorp, Inc. will post 3 EPS for the current fiscal year.

Mid Penn Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 26th. Shareholders of record on Thursday, May 8th were given a $0.20 dividend. 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 2.99%. Mid Penn Bancorp's dividend payout ratio is currently 27.78%.

Institutional Trading of Mid Penn Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers lifted its position in shares of Mid Penn Bancorp by 2.6% in the fourth quarter. Rhumbline Advisers now owns 24,386 shares of the financial services provider's stock worth $703,000 after buying an additional 621 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Mid Penn Bancorp during the fourth quarter valued at approximately $1,289,000. Thrivent Financial for Lutherans grew its holdings in Mid Penn Bancorp by 115.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 19,654 shares of the financial services provider's stock valued at $567,000 after purchasing an additional 10,540 shares during the last quarter. Mendon Capital Advisors Corp acquired a new position in Mid Penn Bancorp during the fourth quarter valued at approximately $1,903,000. Finally, Dimensional Fund Advisors LP grew its holdings in Mid Penn Bancorp by 6.6% during 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 purchasing an additional 29,400 shares during the last quarter. Institutional investors and hedge funds own 43.11% 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.