Raymond James Financial Inc. Takes $1.29 Million Position in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Raymond James Financial Inc. acquired a new position in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 44,711 shares of the financial services provider's stock, valued at approximately $1,289,000. Raymond James Financial Inc. owned about 0.23% of Mid Penn Bancorp at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in shares of Mid Penn Bancorp by 127.4% during the 4th quarter. Wellington Management Group LLP now owns 1,452,177 shares of the financial services provider's stock worth $41,881,000 after acquiring an additional 813,583 shares during the period. Vanguard Group Inc. increased its stake in Mid Penn Bancorp by 17.3% in the fourth quarter. Vanguard Group Inc. now owns 962,636 shares of the financial services provider's stock valued at $27,762,000 after purchasing an additional 141,756 shares in the last quarter. Boston Partners acquired a new position in Mid Penn Bancorp during the 4th quarter valued at about $2,630,000. Renaissance Technologies LLC boosted its position in Mid Penn Bancorp by 533.6% in the fourth quarter. Renaissance Technologies LLC now owns 46,182 shares of the financial services provider's stock worth $1,332,000 after purchasing an additional 38,893 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Mid Penn Bancorp by 14.5% in the 4th quarter. American Century Companies Inc. now owns 244,971 shares of the financial services provider's stock worth $7,065,000 after acquiring an additional 30,965 shares during the last quarter. 43.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Rory G. Ritrievi bought 3,365 shares of the business's stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average cost of $29.56 per share, for a total transaction of $99,469.40. Following the acquisition, the chief executive officer now directly owns 10,750 shares in the company, valued at approximately $317,770. This trade represents a 45.57 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John E. Noone acquired 1,000 shares of the business's stock in a transaction dated Monday, April 28th. The stock was purchased at an average price of $28.18 per share, with a total value of $28,180.00. Following the completion of the transaction, the director now directly owns 41,400 shares of the company's stock, valued at $1,166,652. This trade represents a 2.48 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 4,385 shares of company stock valued at $128,168. Company insiders own 8.10% of the company's stock.

Mid Penn Bancorp Trading Down 1.8 %

Mid Penn Bancorp stock traded down $0.51 during trading hours on Friday, reaching $28.43. The company had a trading volume of 13,649 shares, compared to its average volume of 65,218. Mid Penn Bancorp, Inc. has a 12-month low of $20.03 and a 12-month high of $33.87. The company has a 50-day moving average price of $26.34 and a 200 day moving average price of $28.90. The firm has a market cap of $550.29 million, a price-to-earnings ratio of 9.80 and a beta of 0.65. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.95 and a quick ratio of 0.94.

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

Mid Penn Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 26th. Stockholders of record on Thursday, May 8th will be given 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 2.81%. Mid Penn Bancorp's payout ratio is currently 27.78%.

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.