Mid Penn Bancorp (NASDAQ:MPB) Share Price Crosses Above 200 Day Moving Average - Should You Sell?

Mid Penn Bancorp (NASDAQ:MPB - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $27.72 and traded as high as $29.42. Mid Penn Bancorp shares last traded at $29.16, with a volume of 70,212 shares.

Mid Penn Bancorp Stock Performance

The stock has a market cap of $554.94 million, a PE ratio of 9.95 and a beta of 0.64. 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's 50-day moving average is $27.83 and its 200 day moving average is $27.70.

Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) last issued 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. Mid Penn Bancorp had a return on equity of 8.23% and a net margin of 16.36%. The company had revenue of $47.75 million during the quarter, compared to the consensus estimate of $47.20 million. As a group, research analysts anticipate that Mid Penn Bancorp will post 3 EPS for the current year.

Mid Penn Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 26th. Shareholders of record on Thursday, May 8th were issued a dividend of $0.20 per share. 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 2.79%. Mid Penn Bancorp's payout ratio is presently 27.78%.

Insider Activity at Mid Penn Bancorp

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

Hedge Funds Weigh In On Mid Penn Bancorp

Several hedge funds have recently made changes to their positions in MPB. Bank of New York Mellon Corp grew its position in Mid Penn Bancorp by 19.7% during the 4th quarter. Bank of New York Mellon Corp now owns 74,669 shares of the financial services provider's stock worth $2,153,000 after acquiring an additional 12,297 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Mid Penn Bancorp by 15.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 47,355 shares of the financial services provider's stock worth $1,366,000 after acquiring an additional 6,439 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Mid Penn Bancorp during the 4th quarter valued at approximately $1,289,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Mid Penn Bancorp by 159.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,151 shares of the financial services provider's stock worth $1,360,000 after buying an additional 28,975 shares during the period. Finally, Mystic Asset Management Inc. acquired a new stake in shares of Mid Penn Bancorp during the fourth quarter worth $210,000. Hedge funds and other institutional investors 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.