Mid Penn Bancorp (NASDAQ:MPB) Shares Pass Above 200 Day Moving Average - Time to Sell?

Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) shares 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 changing hands.

Mid Penn Bancorp Stock Down 1.5%

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 firm has a market cap of $564.54 million, a price-to-earnings ratio of 10.13 and a beta of 0.64. The firm has a 50 day moving average price of $27.82 and a 200-day moving average price of $27.72.

Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $0.72 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $47.75 million for the quarter, compared to analyst estimates of $47.20 million. As a group, equities analysts predict that Mid Penn Bancorp will post 3 EPS for the current fiscal year.

Mid Penn Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 26th. Shareholders of record on Thursday, May 8th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend was Thursday, May 8th. Mid Penn Bancorp's payout ratio is 27.78%.

Insider Activity

In related news, Director John E. Noone bought 1,000 shares of the business's stock in a transaction on Friday, May 23rd. The shares were purchased at an average price 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. This represents a 2.36% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Soto Matthew G. De bought 3,560 shares of the business's stock in a transaction on Friday, May 16th. The stock was bought at an average cost 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 position. The disclosure for this purchase can be found here. Insiders acquired 9,586 shares of company stock worth $265,659 in the last three months. Insiders own 8.10% of the company's stock.

Institutional Investors Weigh In On Mid Penn Bancorp

A number of hedge funds have recently modified their holdings of the business. Wellington Management Group LLP raised its position in shares of Mid Penn Bancorp by 3.8% during the first quarter. Wellington Management Group LLP now owns 1,507,231 shares of the financial services provider's stock worth $39,052,000 after purchasing an additional 55,054 shares during the period. Vanguard Group Inc. raised its position in shares of Mid Penn Bancorp by 17.3% during the fourth quarter. Vanguard Group Inc. now owns 962,636 shares of the financial services provider's stock worth $27,762,000 after purchasing an additional 141,756 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Mid Penn Bancorp by 6.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 475,533 shares of the financial services provider's stock worth $13,714,000 after buying an additional 29,400 shares in the last quarter. Banc Funds Co. LLC grew its holdings in shares of Mid Penn Bancorp by 13.8% during the fourth quarter. Banc Funds Co. LLC now owns 412,552 shares of the financial services provider's stock worth $11,898,000 after buying an additional 50,000 shares in the last quarter. Finally, FJ Capital Management LLC bought a new position in shares of Mid Penn Bancorp during the fourth quarter worth about $11,243,000. Institutional investors and hedge funds own 43.11% of the company's stock.

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.