Joan E. Dickinson Acquires 678 Shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) Stock

Mid Penn Bancorp, Inc. (NASDAQ:MPB) insider Joan E. Dickinson acquired 678 shares of the stock in a transaction dated Friday, November 1st. The stock was acquired at an average price of $29.50 per share, for a total transaction of $20,001.00. Following the completion of the transaction, the insider now directly owns 4,493 shares of the company’s stock, valued at approximately $132,543.50. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Mid Penn Bancorp Price Performance

NASDAQ:MPB opened at $32.23 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $538.24 million, a P/E ratio of 11.08 and a beta of 0.57. Mid Penn Bancorp, Inc. has a 12 month low of $19.20 and a 12 month high of $32.86. The business’s 50-day moving average is $30.09 and its 200 day moving average is $25.73.

Mid Penn Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be given a $0.20 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.48%. Mid Penn Bancorp’s dividend payout ratio is currently 27.49%.

Analyst Upgrades and Downgrades

MPB has been the topic of several research analyst reports. StockNews.com downgraded Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, October 14th. Keefe, Bruyette & Woods boosted their price objective on Mid Penn Bancorp from $34.00 to $37.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Finally, Piper Sandler boosted their target price on Mid Penn Bancorp from $31.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th.

Institutional Investors Weigh In On Mid Penn Bancorp

A number of hedge funds have recently made changes to their positions in MPB. BNP Paribas Financial Markets increased its stake in Mid Penn Bancorp by 53.2% during the first quarter. BNP Paribas Financial Markets now owns 22,545 shares of the financial services provider’s stock worth $451,000 after acquiring an additional 7,832 shares during the last quarter. LSV Asset Management grew its stake in shares of Mid Penn Bancorp by 11.1% during the first quarter. LSV Asset Management now owns 128,961 shares of the financial services provider’s stock valued at $2,581,000 after buying an additional 12,883 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Mid Penn Bancorp by 7.8% during the first quarter. Empowered Funds LLC now owns 31,268 shares of the financial services provider’s stock valued at $626,000 after buying an additional 2,275 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Mid Penn Bancorp by 1.8% during the first quarter. Vanguard Group Inc. now owns 688,363 shares of the financial services provider’s stock valued at $13,774,000 after buying an additional 12,314 shares during the last quarter. Finally, Kennedy Capital Management LLC grew its stake in shares of Mid Penn Bancorp by 126.4% during the first quarter. Kennedy Capital Management LLC now owns 96,086 shares of the financial services provider’s stock valued at $1,923,000 after buying an additional 53,650 shares during the last quarter. 43.11% of the stock is currently owned by hedge funds and other institutional investors.

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.