Mid Penn Bancorp (NASDAQ:MPB) Share Price Crosses Below 200-Day Moving Average of $21.30

Mid Penn Bancorp, Inc. (NASDAQ:MPB - Get Free Report)'s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $21.30 and traded as low as $20.30. Mid Penn Bancorp shares last traded at $20.41, with a volume of 49,206 shares.

Analyst Upgrades and Downgrades

MPB has been the topic of a number of recent analyst reports. Piper Sandler cut their price objective on Mid Penn Bancorp from $27.00 to $26.00 and set an "overweight" rating on the stock in a research note on Thursday, February 1st. TheStreet lowered Mid Penn Bancorp from a "b" rating to a "c+" rating in a research note on Tuesday, February 13th.

Mid Penn Bancorp Stock Performance

The company has a market cap of $342.67 million, a PE ratio of 9.07 and a beta of 0.57. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average of $20.27 and a 200-day moving average of $21.30.

Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) last posted its quarterly earnings data on Friday, January 26th. The financial services provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.14. Mid Penn Bancorp had a return on equity of 8.37% and a net margin of 14.59%. The business had revenue of $42.12 million for the quarter, compared to analysts' expectations of $42.03 million. As a group, analysts anticipate that Mid Penn Bancorp, Inc. will post 2.66 earnings per share for the current year.

Mid Penn Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Friday, February 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.87%. Mid Penn Bancorp's dividend payout ratio is presently 35.09%.

Insider Activity

In other Mid Penn Bancorp news, Director Soto Matthew G. De bought 1,185 shares of the firm's stock in a transaction on Thursday, February 1st. The shares were acquired at an average cost of $21.13 per share, for a total transaction of $25,039.05. Following the purchase, the director now directly owns 67,863 shares of the company's stock, valued at $1,433,945.19. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Soto Matthew G. De bought 1,185 shares of the company's stock in a transaction that occurred on Thursday, February 1st. The stock was bought at an average cost of $21.13 per share, for a total transaction of $25,039.05. Following the acquisition, the director now directly owns 67,863 shares of the company's stock, valued at approximately $1,433,945.19. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Theodore W. Mowery bought 2,000 shares of the company's stock in a transaction that occurred on Friday, March 15th. The shares were bought at an average price of $20.42 per share, with a total value of $40,840.00. Following the completion of the acquisition, the director now directly owns 31,540 shares in the company, valued at $644,046.80. The disclosure for this purchase can be found here. Insiders have bought 4,994 shares of company stock valued at $103,875 in the last 90 days. Insiders own 9.90% of the company's stock.

Institutional Investors Weigh In On Mid Penn Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of MPB. SG Americas Securities LLC purchased a new position in Mid Penn Bancorp during the third quarter valued at $141,000. Bank of New York Mellon Corp raised its stake in Mid Penn Bancorp by 1.3% during the third quarter. Bank of New York Mellon Corp now owns 92,565 shares of the financial services provider's stock valued at $1,863,000 after buying an additional 1,176 shares during the last quarter. Bailard Inc. purchased a new position in Mid Penn Bancorp during the third quarter valued at $371,000. Strs Ohio raised its stake in Mid Penn Bancorp by 1,223.5% during the third quarter. Strs Ohio now owns 22,500 shares of the financial services provider's stock valued at $452,000 after buying an additional 20,800 shares during the last quarter. Finally, Wharton Business Group LLC raised its stake in Mid Penn Bancorp by 3.1% during the third quarter. Wharton Business Group LLC now owns 78,331 shares of the financial services provider's stock valued at $1,577,000 after buying an additional 2,355 shares during the last quarter. Hedge funds and other institutional investors 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.