81,000 Shares in Mid Penn Bancorp, Inc. (NASDAQ:MPB) Purchased by North Reef Capital Management LP

North Reef Capital Management LP purchased a new position in Mid Penn Bancorp, Inc. (NASDAQ:MPB - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 81,000 shares of the financial services provider's stock, valued at approximately $2,336,000. North Reef Capital Management LP owned 0.42% of Mid Penn Bancorp at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in MPB. Mendon Capital Advisors Corp acquired a new stake in Mid Penn Bancorp during the fourth quarter valued at approximately $1,903,000. Dimensional Fund Advisors LP lifted its stake in 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 valued at $13,714,000 after purchasing an additional 29,400 shares during the last quarter. Curi RMB Capital LLC acquired a new stake in Mid Penn Bancorp during the fourth quarter valued at approximately $1,903,000. First Trust Advisors LP lifted its stake in Mid Penn Bancorp by 6.0% during the fourth quarter. First Trust Advisors LP now owns 69,139 shares of the financial services provider's stock valued at $1,994,000 after purchasing an additional 3,927 shares during the last quarter. Finally, Banc Funds Co. LLC lifted its stake in 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 valued at $11,898,000 after purchasing an additional 50,000 shares during the last quarter. 43.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Rory G. Ritrievi bought 3,365 shares of the stock in a transaction on Friday, February 14th. The shares were purchased at an average price of $29.56 per share, for a total transaction of $99,469.40. Following the completion of the purchase, the chief executive officer now directly owns 10,750 shares of the company's stock, valued at $317,770. This trade represents a 45.57 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Soto Matthew G. De bought 2,575 shares of the stock in a transaction on Tuesday, February 4th. The stock was purchased at an average price of $29.07 per share, for a total transaction of $74,855.25. Following the purchase, the director now directly owns 103,162 shares of the company's stock, valued at approximately $2,998,919.34. This represents a 2.56 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 6,960 shares of company stock worth $203,023. 8.10% of the stock is owned by corporate insiders.

Mid Penn Bancorp Price Performance

MPB stock traded up $0.09 on Wednesday, hitting $29.06. 79,314 shares of the company's stock traded hands, compared to its average volume of 61,145. Mid Penn Bancorp, Inc. has a 1-year low of $19.75 and a 1-year high of $33.87. The stock has a market cap of $562.49 million, a price-to-earnings ratio of 10.02 and a beta of 0.58. The stock has a fifty day moving average of $26.26 and a 200-day moving average of $28.99. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12.

Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.10. Mid Penn Bancorp had a net margin of 15.99% and a return on equity of 8.43%. The firm had revenue of $47.75 million during the quarter, compared to analyst estimates of $47.20 million. On average, analysts forecast that Mid Penn Bancorp, Inc. will post 3 EPS for the current fiscal year.

Mid Penn Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 26th. Stockholders of record on Thursday, May 8th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, May 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.75%. Mid Penn Bancorp's dividend payout ratio is 27.78%.

Mid Penn Bancorp 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.