Mid Penn Bancorp, Inc. (NASDAQ:MPB) Short Interest Down 49.3% in May

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

Mid Penn Bancorp Price Performance

Shares of NASDAQ:MPB opened at $26.72 on Monday. Mid Penn Bancorp has a 1-year low of $20.03 and a 1-year high of $33.87. The company has a market capitalization of $517.19 million, a PE ratio of 9.21 and a beta of 0.65. The business has a fifty day moving average price of $26.82 and a 200-day moving average price of $28.41. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.95 and a quick ratio of 0.94.

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, beating the consensus estimate of $0.62 by $0.10. Mid Penn Bancorp had a net margin of 15.99% and a return on equity of 8.43%. The firm had revenue of $47.75 million for the quarter, compared to analysts' expectations of $47.20 million. As a group, equities analysts expect that Mid Penn Bancorp will post 3 EPS for the current fiscal year.

Mid Penn Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, May 26th. Investors of record on Thursday, May 8th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, May 8th. This represents a $0.80 annualized dividend and a yield of 2.99%. Mid Penn Bancorp's dividend payout ratio is currently 27.78%.

Insider Buying and Selling

In other Mid Penn Bancorp news, Director Soto Matthew G. De bought 3,560 shares of the company's stock in a transaction dated Friday, May 16th. The shares were purchased at an average price of $28.10 per share, for a total transaction of $100,036.00. Following the acquisition, the director now owns 108,138 shares in the company, valued at approximately $3,038,677.80. This represents a 3.40% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John E. Noone acquired 1,000 shares of the business's stock in a transaction on Friday, May 23rd. The stock was acquired at an average price of $26.60 per share, for a total transaction of $26,600.00. Following the acquisition, the director now owns 43,400 shares of the company's stock, valued at approximately $1,154,440. This trade represents a 2.36% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 8,705 shares of company stock valued at $240,769 over the last three months. 8.10% of the stock is owned by company insiders.

Institutional Trading of Mid Penn Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in MPB. Stonebridge Financial Group LLC purchased a new position in Mid Penn Bancorp during the 4th quarter worth approximately $45,000. Emerald Advisers LLC increased its position in 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 worth $70,000 after buying an additional 1,750 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Mid Penn Bancorp by 5,634.0% during the 1st quarter. GAMMA Investing LLC now owns 2,695 shares of the financial services provider's stock valued at $70,000 after acquiring an additional 2,648 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Mid Penn Bancorp by 18.6% in the fourth quarter. SG Americas Securities LLC now owns 6,484 shares of the financial services provider's stock valued at $187,000 after purchasing an additional 1,018 shares during the period. Finally, Mystic Asset Management Inc. bought a new position in Mid Penn Bancorp in the 4th quarter worth $210,000. 43.11% of the stock is currently owned by institutional investors.

Mid Penn Bancorp Company 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.