Mid Penn Bancorp (NASDAQ:MPB) Declares Quarterly Dividend of $0.20

Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) declared a quarterly dividend on Wednesday, July 23rd, RTT News reports. Shareholders of record on Friday, August 8th will be given a dividend of 0.20 per share by the financial services provider on Monday, August 25th. This represents a $0.80 annualized dividend and a yield of 2.96%. The ex-dividend date is Friday, August 8th.

Mid Penn Bancorp has a payout ratio of 23.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Mid Penn Bancorp to earn $3.37 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 23.7%.

Mid Penn Bancorp Stock Performance

Shares of Mid Penn Bancorp stock traded up $0.32 during trading on Friday, reaching $27.02. The company's stock had a trading volume of 235,136 shares, compared to its average volume of 107,540. Mid Penn Bancorp has a one year low of $22.50 and a one year high of $33.87. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $523.11 million, a price-to-earnings ratio of 11.31 and a beta of 0.64. The business's fifty day moving average price is $27.80 and its 200-day moving average price is $27.71.

Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.01. The company had revenue of $54.35 million for the quarter, compared to the consensus estimate of $54.20 million. Mid Penn Bancorp had a return on equity of 8.60% and a net margin of 13.69%. As a group, equities research analysts predict that Mid Penn Bancorp will post 3 earnings per share for the current year.

Insider Activity at Mid Penn Bancorp

In other Mid Penn Bancorp news, Director Soto Matthew G. De bought 3,560 shares of the company's stock in a transaction on Friday, May 16th. The stock was bought at an average price of $28.10 per share, for a total transaction of $100,036.00. Following the transaction, the director owned 108,138 shares of the company's stock, valued at approximately $3,038,677.80. The trade was a 3.40% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John E. Noone purchased 1,000 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was bought at an average cost of $26.60 per share, for a total transaction of $26,600.00. Following the purchase, the director owned 43,400 shares in the company, valued at $1,154,440. This trade represents a 2.36% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 9,586 shares of company stock worth $265,659 over the last three months. 8.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Empowered Funds LLC increased its position in shares of Mid Penn Bancorp by 55.2% in the 1st quarter. Empowered Funds LLC now owns 57,505 shares of the financial services provider's stock valued at $1,490,000 after buying an additional 20,442 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Mid Penn Bancorp by 107.5% during the 1st quarter. AQR Capital Management LLC now owns 22,730 shares of the financial services provider's stock worth $589,000 after buying an additional 11,774 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Mid Penn Bancorp by 21.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,361 shares of the financial services provider's stock worth $268,000 after buying an additional 1,796 shares during the last quarter. Institutional investors and hedge funds own 43.11% of the company's stock.

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.