Insider Buying: Mid Penn Bancorp, Inc. (NASDAQ:MPB) CEO Acquires $14,750.00 in Stock

Mid Penn Bancorp, Inc. (NASDAQ:MPB) CEO Rory G. Ritrievi acquired 500 shares of the stock in a transaction dated Friday, November 1st. The stock was acquired at an average cost of $29.50 per share, with a total value of $14,750.00. Following the completion of the transaction, the chief executive officer now owns 49,529 shares in the company, valued at approximately $1,461,105.50. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Mid Penn Bancorp Trading Down 0.6 %

MPB opened at $32.05 on Friday. Mid Penn Bancorp, Inc. has a fifty-two week low of $19.20 and a fifty-two week high of $32.86. The firm has a market capitalization of $535.24 million, a PE ratio of 11.01 and a beta of 0.57. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.95 and a quick ratio of 0.95. The company’s 50-day moving average is $30.14 and its 200 day moving average is $25.77.

Mid Penn Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be issued 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 2.50%. Mid Penn Bancorp’s dividend payout ratio is presently 27.49%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MPB. StockNews.com downgraded Mid Penn Bancorp from a “buy” rating to a “hold” rating in a report on Monday, October 14th. Piper Sandler boosted their target price on Mid Penn Bancorp from $31.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Finally, 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 report on Tuesday, October 29th.

Institutional Investors Weigh In On Mid Penn Bancorp

Several institutional investors have recently bought and sold shares of MPB. Thrivent Financial for Lutherans purchased a new position in Mid Penn Bancorp during the 3rd quarter worth $272,000. Empowered Funds LLC lifted its position in shares of Mid Penn Bancorp by 5.2% during the third quarter. Empowered Funds LLC now owns 35,350 shares of the financial services provider’s stock valued at $1,054,000 after purchasing an additional 1,742 shares in the last quarter. Cornercap Investment Counsel Inc. purchased a new position in Mid Penn Bancorp during the third quarter worth about $263,000. Heritage Oak Wealth Advisors LLC bought a new stake in Mid Penn Bancorp in the 3rd quarter worth about $378,000. Finally, McClarren Financial Advisors Inc. grew its position in Mid Penn Bancorp by 5,438.1% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 1,163 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 1,142 shares in the last quarter. Institutional investors own 43.11% of the company’s stock.

About Mid Penn Bancorp

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.