Raymond James Financial Inc. Buys Shares of 44,711 Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Raymond James Financial Inc. purchased a new position in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 44,711 shares of the financial services provider's stock, valued at approximately $1,289,000. Raymond James Financial Inc. owned 0.23% of Mid Penn Bancorp as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling

In related news, CEO Rory G. Ritrievi purchased 3,365 shares of the company's stock in a transaction that occurred on Friday, February 14th. The shares were purchased at an average price of $29.56 per share, with a total value of $99,469.40. Following the purchase, the chief executive officer now owns 10,750 shares of the company's stock, valued at $317,770. This trade represents a 45.57 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John E. Noone acquired 1,000 shares of Mid Penn Bancorp stock in a transaction on Monday, April 28th. The shares were purchased at an average cost of $28.18 per share, with a total value of $28,180.00. Following the completion of the purchase, the director now directly owns 41,400 shares of the company's stock, valued at approximately $1,166,652. This represents a 2.48 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 6,960 shares of company stock worth $203,023 in the last ninety days. 8.10% of the stock is currently owned by corporate insiders.

Mid Penn Bancorp Stock Performance

MPB opened at $29.27 on Friday. The business has a 50 day moving average price of $26.29 and a two-hundred day moving average price of $28.95. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.95 and a quick ratio of 0.94. The company has a market capitalization of $566.55 million, a price-to-earnings ratio of 10.09 and a beta of 0.58. Mid Penn Bancorp, Inc. has a 1-year low of $20.03 and a 1-year high of $33.87.

Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $47.75 million during the quarter, compared to analyst estimates of $47.20 million. Mid Penn Bancorp had a return on equity of 8.43% and a net margin of 15.99%. Research analysts predict that Mid Penn Bancorp, Inc. will post 3 EPS for the current fiscal year.

Mid Penn Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 26th. Stockholders of record on Thursday, May 8th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $0.80 annualized dividend and a dividend yield of 2.73%. Mid Penn Bancorp's dividend 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.

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