Insider Buying: Mid Penn Bancorp, Inc. (NASDAQ:MPB) CFO Purchases 750 Shares of Stock

Mid Penn Bancorp, Inc. (NASDAQ:MPB) CFO Michael D. Peduzzi purchased 750 shares of the company’s stock in a transaction dated Friday, April 30th. The shares were bought at an average cost of $25.00 per share, for a total transaction of $18,750.00. Following the acquisition, the chief financial officer now owns 4,388 shares in the company, valued at $109,700. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

MPB opened at $27.36 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.47. Mid Penn Bancorp, Inc. has a 12-month low of $16.60 and a 12-month high of $29.87. The company has a market cap of $230.18 million, a price-to-earnings ratio of 10.69 and a beta of 0.65. The company’s 50 day moving average is $26.19 and its 200 day moving average is $23.89.

Mid Penn Bancorp (NASDAQ:MPB) last issued its quarterly earnings results on Wednesday, April 21st. The financial services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.19. Mid Penn Bancorp had a net margin of 18.55% and a return on equity of 8.92%. As a group, analysts predict that Mid Penn Bancorp, Inc. will post 2.88 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, May 24th. Shareholders of record on Monday, May 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, May 7th. This represents a $0.80 annualized dividend and a yield of 2.92%. This is an increase from Mid Penn Bancorp’s previous quarterly dividend of $0.19. Mid Penn Bancorp’s payout ratio is currently 36.36%.

A number of analysts have recently issued reports on MPB shares. Stephens started coverage on shares of Mid Penn Bancorp in a report on Monday. They set an “overweight” rating and a $30.00 price target on the stock. Zacks Investment Research raised shares of Mid Penn Bancorp from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Tuesday, March 16th.

Large investors have recently modified their holdings of the business. Banc Funds Co. LLC raised its position in shares of Mid Penn Bancorp by 57.1% during the fourth quarter. Banc Funds Co. LLC now owns 118,172 shares of the financial services provider’s stock valued at $2,588,000 after buying an additional 42,950 shares during the last quarter. Citigroup Inc. raised its position in shares of Mid Penn Bancorp by 300.9% during the fourth quarter. Citigroup Inc. now owns 1,339 shares of the financial services provider’s stock valued at $29,000 after buying an additional 1,005 shares during the last quarter. Grant Street Asset Management Inc. bought a new stake in shares of Mid Penn Bancorp during the fourth quarter valued at approximately $60,000. JPMorgan Chase & Co. raised its position in shares of Mid Penn Bancorp by 54.7% during the fourth quarter. JPMorgan Chase & Co. now owns 36,792 shares of the financial services provider’s stock valued at $806,000 after buying an additional 13,013 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of Mid Penn Bancorp by 7.3% during the fourth quarter. BlackRock Inc. now owns 365,930 shares of the financial services provider’s stock valued at $8,013,000 after buying an additional 24,913 shares during the last quarter. 19.50% of the stock is currently owned by institutional investors and hedge funds.

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 IRAs.

Further Reading: Earnings Per Share

Insider Buying and Selling by Quarter for Mid Penn Bancorp (NASDAQ:MPB)

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