Mid Penn Bancorp (NASDAQ:MPB) Rating Increased to Buy at StockNews.com

Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a report issued on Friday.

Other equities analysts have also issued research reports about the stock. TheStreet lowered shares of Mid Penn Bancorp from a "b" rating to a "c+" rating in a research report on Tuesday, February 13th. Piper Sandler reduced their price target on shares of Mid Penn Bancorp from $27.00 to $26.00 and set an "overweight" rating on the stock in a research report on Thursday, February 1st.

Mid Penn Bancorp Price Performance

Shares of MPB stock traded down $0.23 during mid-day trading on Friday, hitting $21.52. 17,814 shares of the stock traded hands, compared to its average volume of 43,564. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 0.94. Mid Penn Bancorp has a twelve month low of $18.63 and a twelve month high of $25.92. The firm has a market cap of $356.59 million, a price-to-earnings ratio of 9.32 and a beta of 0.56. The company's 50-day simple moving average is $20.33 and its 200-day simple moving average is $21.38.

Insider Buying and Selling

In other Mid Penn Bancorp news, Director Soto Matthew G. De bought 9,615 shares of the stock in a transaction on Monday, April 29th. The shares were acquired at an average price of $20.76 per share, with a total value of $199,607.40. Following the acquisition, the director now directly owns 79,190 shares of the company's stock, valued at approximately $1,643,984.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Soto Matthew G. De bought 9,615 shares of Mid Penn Bancorp stock in a transaction on Monday, April 29th. The shares were purchased at an average price of $20.76 per share, for a total transaction of $199,607.40. Following the acquisition, the director now owns 79,190 shares of the company's stock, valued at $1,643,984.40. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Theodore W. Mowery bought 2,000 shares of the company's stock in a transaction dated Friday, March 15th. The stock was purchased at an average price of $20.42 per share, for a total transaction of $40,840.00. Following the purchase, the director now owns 31,540 shares of the company's stock, valued at approximately $644,046.80. The disclosure for this purchase can be found here. Insiders have acquired 13,223 shares of company stock worth $273,830 in the last quarter. Insiders own 9.90% of the company's stock.

Institutional Investors Weigh In On Mid Penn Bancorp

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Mid Penn Bancorp by 1.8% during the first quarter. Vanguard Group Inc. now owns 688,363 shares of the financial services provider's stock valued at $13,774,000 after acquiring an additional 12,314 shares in the last quarter. LSV Asset Management increased its holdings in Mid Penn Bancorp by 11.1% in the first quarter. LSV Asset Management now owns 128,961 shares of the financial services provider's stock valued at $2,581,000 after buying an additional 12,883 shares in the last quarter. Endeavour Capital Advisors Inc. raised its position in Mid Penn Bancorp by 2.0% during the third quarter. Endeavour Capital Advisors Inc. now owns 110,187 shares of the financial services provider's stock worth $2,218,000 after acquiring an additional 2,136 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Mid Penn Bancorp by 1.3% in 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 acquiring an additional 1,176 shares in the last quarter. Finally, Wharton Business Group LLC boosted its position in Mid Penn Bancorp by 3.2% during the fourth quarter. Wharton Business Group LLC now owns 80,841 shares of the financial services provider's stock worth $1,963,000 after acquiring an additional 2,510 shares during the last quarter. 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.

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