Mid Penn Bancorp, Inc. (NASDAQ:MPB) Short Interest Update

Mid Penn Bancorp, Inc. (NASDAQ:MPB - Get Free Report) saw a significant drop in short interest in May. As of May 15th, there was short interest totalling 331,000 shares, a drop of 49.3% from the April 30th total of 652,900 shares. Approximately 1.9% of the shares of the company are short sold. Based on an average trading volume of 107,200 shares, the days-to-cover ratio is currently 3.1 days.

Insider Activity at Mid Penn Bancorp

In related news, Director John E. Noone acquired 1,000 shares of Mid Penn Bancorp 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 acquisition, the director now owns 41,400 shares in the company, valued at approximately $1,166,652. This represents a 2.48% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Soto Matthew G. De bought 1,875 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The shares were purchased 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 in the company, valued at $2,932,946.58. This represents a 1.73% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 8,705 shares of company stock worth $240,769. 8.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mid Penn Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in MPB. Citadel Advisors LLC bought a new position in Mid Penn Bancorp during the 4th quarter worth $864,000. Rhumbline Advisers lifted its position in shares of Mid Penn Bancorp by 2.6% in the 4th quarter. Rhumbline Advisers now owns 24,386 shares of the financial services provider's stock valued at $703,000 after acquiring an additional 621 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Mid Penn Bancorp during the 4th quarter valued at $1,289,000. D. E. Shaw & Co. Inc. increased its stake in shares of Mid Penn Bancorp by 120.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 18,902 shares of the financial services provider's stock worth $545,000 after purchasing an additional 10,335 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Mid Penn Bancorp by 115.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 19,654 shares of the financial services provider's stock valued at $567,000 after acquiring an additional 10,540 shares during the last quarter. 43.11% of the stock is currently owned by hedge funds and other institutional investors.

Mid Penn Bancorp Price Performance

Shares of Mid Penn Bancorp stock traded up $0.41 during trading on Tuesday, reaching $26.67. The company's stock had a trading volume of 55,040 shares, compared to its average volume of 67,170. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $516.22 million, a P/E ratio of 9.20 and a beta of 0.65. Mid Penn Bancorp has a 12-month low of $20.03 and a 12-month high of $33.87. The business has a 50 day moving average price of $26.82 and a 200-day moving average price of $28.37.

Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) last released its 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. The firm had revenue of $47.75 million during the quarter, compared to analysts' expectations of $47.20 million. Mid Penn Bancorp had a net margin of 15.99% and a return on equity of 8.43%. As a group, sell-side analysts anticipate that Mid Penn Bancorp will post 3 EPS for the current 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 issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend was Thursday, May 8th. Mid Penn Bancorp's dividend payout ratio 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.