The Manufacturers Life Insurance Company Grows Stock Holdings in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

The Manufacturers Life Insurance Company lifted its position in Mid Penn Bancorp, Inc. (NASDAQ:MPB - Free Report) by 62.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 344,453 shares of the financial services provider's stock after purchasing an additional 132,814 shares during the period. The Manufacturers Life Insurance Company owned 1.78% of Mid Penn Bancorp worth $9,934,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Stonebridge Financial Group LLC purchased a new stake in Mid Penn Bancorp during the fourth quarter worth $45,000. Emerald Advisers LLC lifted its holdings in Mid Penn Bancorp by 261.6% during the fourth quarter. Emerald Advisers LLC now owns 2,419 shares of the financial services provider's stock worth $70,000 after buying an additional 1,750 shares during the period. SG Americas Securities LLC lifted its holdings in Mid Penn Bancorp by 18.6% during the fourth quarter. SG Americas Securities LLC now owns 6,484 shares of the financial services provider's stock worth $187,000 after buying an additional 1,018 shares during the period. Mystic Asset Management Inc. purchased a new stake in Mid Penn Bancorp during the fourth quarter worth $210,000. Finally, Semanteon Capital Management LP purchased a new stake in Mid Penn Bancorp during the fourth quarter worth $228,000. Hedge funds and other institutional investors own 43.11% of the company's stock.

Mid Penn Bancorp Stock Down 2.7%

Shares of MPB traded down $0.77 during midday trading on Friday, hitting $28.17. 98,852 shares of the company's stock traded hands, compared to its average volume of 65,818. Mid Penn Bancorp, Inc. has a 1 year low of $20.03 and a 1 year high of $33.87. The firm's fifty day moving average is $26.35 and its 200-day moving average is $28.85. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $545.26 million, a price-to-earnings ratio of 9.71 and a beta of 0.65.

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 EPS for the quarter, beating the consensus estimate of $0.62 by $0.10. Mid Penn Bancorp had a return on equity of 8.43% and a net margin of 15.99%. The firm had revenue of $47.75 million during the quarter, compared to analyst estimates of $47.20 million. As a group, sell-side analysts anticipate that Mid Penn Bancorp, Inc. will post 3 earnings per share for the current 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 issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $0.80 annualized dividend and a dividend yield of 2.84%. Mid Penn Bancorp's dividend payout ratio is presently 27.78%.

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 purchased at an average cost of $29.56 per share, with a total value of $99,469.40. Following the transaction, the chief executive officer now directly owns 10,750 shares in the company, valued at approximately $317,770. The trade was a 45.57% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John E. Noone bought 1,000 shares of the business's stock in a transaction that occurred on Monday, April 28th. The stock was purchased at an average cost of $28.18 per share, for a total transaction of $28,180.00. Following the completion of the transaction, the director now owns 41,400 shares in the company, valued at $1,166,652. This trade represents a 2.48% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 4,385 shares of company stock worth $128,168. Insiders own 8.10% of the company's stock.

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.