Mid Penn Bancorp, Inc. (NASDAQ:MPB) Short Interest Up 18.6% in March

Mid Penn Bancorp, Inc. (NASDAQ:MPB - Get Free Report) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 476,900 shares, a growth of 18.6% from the March 15th total of 402,100 shares. Currently, 2.8% of the company's stock are sold short. Based on an average trading volume of 82,000 shares, the days-to-cover ratio is presently 5.8 days.

Mid Penn Bancorp Price Performance

NASDAQ MPB traded down $0.61 during trading on Friday, reaching $27.77. 135,449 shares of the company traded hands, compared to its average volume of 60,151. Mid Penn Bancorp has a 1-year low of $19.75 and a 1-year high of $33.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.94 and a current ratio of 0.95. The stock's 50 day moving average price is $26.28 and its two-hundred day moving average price is $29.00. The company has a market cap of $537.52 million, a price-to-earnings ratio of 9.58 and a beta of 0.58.

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

Mid Penn Bancorp Dividend Announcement

The company also recently disclosed 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. This represents a $0.80 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Thursday, May 8th. Mid Penn Bancorp's payout ratio is 27.78%.

Insider Transactions at Mid Penn Bancorp

In other news, Director Soto Matthew G. De bought 2,575 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The shares were purchased at an average price of $29.07 per share, for a total transaction of $74,855.25. Following the acquisition, the director now directly owns 103,162 shares of the company's stock, valued at $2,998,919.34. The trade was a 2.56 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Rory G. Ritrievi purchased 3,365 shares of the business's stock in a transaction on Friday, February 14th. The stock was purchased at an average cost of $29.56 per share, with a total value of $99,469.40. Following the acquisition, the chief executive officer now owns 10,750 shares in the company, valued at approximately $317,770. This represents a 45.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 9,010 shares of company stock valued at $266,495. 8.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp increased its holdings in shares of Mid Penn Bancorp by 4.9% in the third quarter. State Street Corp now owns 302,384 shares of the financial services provider's stock valued at $9,020,000 after purchasing an additional 14,148 shares in the last quarter. Jane Street Group LLC increased its position in shares of Mid Penn Bancorp by 72.7% in the 3rd quarter. Jane Street Group LLC now owns 22,145 shares of the financial services provider's stock valued at $661,000 after buying an additional 9,324 shares in the last quarter. Barclays PLC raised its position in shares of Mid Penn Bancorp by 61.3% during the third quarter. Barclays PLC now owns 36,805 shares of the financial services provider's stock worth $1,098,000 after purchasing an additional 13,986 shares during the period. Geode Capital Management LLC raised its holdings in Mid Penn Bancorp by 5.3% during the 3rd quarter. Geode Capital Management LLC now owns 350,375 shares of the financial services provider's stock worth $10,454,000 after buying an additional 17,730 shares during the period. Finally, Franklin Resources Inc. bought a new stake in Mid Penn Bancorp in the 3rd quarter valued at $285,000. 43.11% of the stock is owned by institutional investors and hedge funds.

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.