Rory G. Ritrievi Acquires 3,050 Shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) Stock

Mid Penn Bancorp, Inc. (NASDAQ:MPB) CEO Rory G. Ritrievi purchased 3,050 shares of the stock in a transaction on Monday, January 27th. The shares were purchased at an average cost of $30.05 per share, with a total value of $91,652.50. Following the transaction, the chief executive officer now owns 7,385 shares in the company, valued at $221,919.25. This trade represents a 70.36 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Mid Penn Bancorp Stock Up 0.5 %

Mid Penn Bancorp stock opened at $30.54 on Thursday. The business’s 50-day moving average price is $30.06 and its 200 day moving average price is $29.55. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.12. The firm has a market cap of $507.57 million, a price-to-earnings ratio of 10.53 and a beta of 0.57. Mid Penn Bancorp, Inc. has a 52 week low of $19.20 and a 52 week high of $33.87.

Mid Penn Bancorp (NASDAQ:MPB) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.71 EPS for the quarter, hitting analysts’ consensus estimates of $0.71. Mid Penn Bancorp had a net margin of 15.99% and a return on equity of 8.43%. 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, February 7th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.62%. Mid Penn Bancorp’s dividend payout ratio (DPR) is currently 27.59%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MPB shares. Piper Sandler raised their price objective on Mid Penn Bancorp from $31.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. StockNews.com lowered shares of Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, October 14th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of 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 hedge funds have recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in Mid Penn Bancorp by 14.3% in the 3rd quarter. Wellington Management Group LLP now owns 638,594 shares of the financial services provider’s stock worth $19,049,000 after purchasing an additional 79,851 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Mid Penn Bancorp by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 418,963 shares of the financial services provider’s stock valued at $9,195,000 after buying an additional 31,292 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of 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. State Street Corp lifted its position in shares of Mid Penn Bancorp by 4.9% during the 3rd quarter. State Street Corp now owns 302,384 shares of the financial services provider’s stock valued at $9,020,000 after buying an additional 14,148 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Mid Penn Bancorp by 28.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 62,542 shares of the financial services provider’s stock valued at $1,866,000 after acquiring an additional 14,009 shares during the period. 43.11% of the stock is owned by hedge funds and other institutional investors.

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.