Mid Penn Bancorp (NASDAQ:MPB) Stock Passes Below 200-Day Moving Average - Here's Why

Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $27.82 and traded as low as $26.69. Mid Penn Bancorp shares last traded at $27.67, with a volume of 74,748 shares.

Mid Penn Bancorp Price Performance

The stock has a market cap of $547.31 million, a P/E ratio of 9.82 and a beta of 0.63. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.96 and a quick ratio of 0.96. The business's fifty day moving average price is $27.45 and its 200 day moving average price is $27.80.

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, topping analysts' consensus estimates of $0.62 by $0.10. The business 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 16.36% and a return on equity of 8.23%. Sell-side analysts forecast that Mid Penn Bancorp 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. Stockholders of record on Thursday, May 8th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, May 8th. This represents a $0.80 annualized dividend and a dividend yield of 2.83%. Mid Penn Bancorp's dividend payout ratio (DPR) is presently 27.78%.

Insider Activity at Mid Penn Bancorp

In other Mid Penn Bancorp news, Director John E. Noone purchased 1,000 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were bought at an average price of $28.23 per share, for a total transaction of $28,230.00. Following the completion of the acquisition, the director now owns 42,400 shares in the company, valued at approximately $1,196,952. This trade represents a 2.42% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Soto Matthew G. De acquired 3,560 shares of Mid Penn Bancorp stock in a transaction that occurred on Friday, May 16th. The stock was acquired at an average cost of $28.10 per share, for a total transaction of $100,036.00. Following the purchase, the director now owns 108,138 shares of the company's stock, valued at $3,038,677.80. The trade was a 3.40% increase in their ownership of the stock. 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 in the last 90 days. 8.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Citadel Advisors LLC bought a new stake in shares of Mid Penn Bancorp in the 4th quarter valued at about $864,000. Squarepoint Ops LLC acquired a new position in shares of Mid Penn Bancorp in the fourth quarter worth approximately $499,000. Rhumbline Advisers boosted its holdings in Mid Penn Bancorp by 2.6% in the fourth 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 during the last quarter. Ameriprise Financial Inc. bought a new stake in Mid Penn Bancorp in the fourth quarter valued at approximately $395,000. Finally, Raymond James Financial Inc. acquired a new stake in Mid Penn Bancorp during the 4th quarter valued at approximately $1,289,000. 43.11% of the stock is 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.