Short Interest in Mid Penn Bancorp, Inc. (NASDAQ:MPB) Grows By 19.8%

Mid Penn Bancorp, Inc. (NASDAQ:MPB) was the target of a large increase in short interest in August. As of August 31st, there was short interest totalling 69,000 shares, an increase of 19.8% from the August 15th total of 57,600 shares. Based on an average trading volume of 39,900 shares, the short-interest ratio is presently 1.7 days.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Mid Penn Bancorp in a report on Thursday, August 17th. They issued a “hold” rating on the stock.

Insider Activity at Mid Penn Bancorp

In other Mid Penn Bancorp news, Director Soto Matthew G. De purchased 2,355 shares of Mid Penn Bancorp stock in a transaction dated Thursday, August 17th. The shares were bought at an average cost of $21.23 per share, for a total transaction of $49,996.65. Following the transaction, the director now owns 62,101 shares in the company, valued at approximately $1,318,404.23. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 10.70% of the company’s stock.

Institutional Trading of Mid Penn Bancorp

Hedge funds have recently added to or reduced their stakes in the business. Royce & Associates LP raised its position in shares of Mid Penn Bancorp by 32.3% during the 1st quarter. Royce & Associates LP now owns 157,955 shares of the financial services provider’s stock worth $4,045,000 after buying an additional 38,606 shares in the last quarter. CNB Bank increased its position in shares of Mid Penn Bancorp by 10.5% during the 4th quarter. CNB Bank now owns 26,137 shares of the financial services provider’s stock valued at $783,000 after purchasing an additional 2,492 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Mid Penn Bancorp by 4.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 284,068 shares of the financial services provider’s stock worth $8,514,000 after buying an additional 11,133 shares in the last quarter. Petiole USA ltd lifted its holdings in shares of Mid Penn Bancorp by 10.9% in the fourth quarter. Petiole USA ltd now owns 186,485 shares of the financial services provider’s stock valued at $5,589,000 after buying an additional 18,369 shares during the period. Finally, Martingale Asset Management L P lifted its holdings in Mid Penn Bancorp by 45.6% in the 1st quarter. Martingale Asset Management L P now owns 43,349 shares of the financial services provider’s stock valued at $1,110,000 after acquiring an additional 13,571 shares during the last quarter. Institutional investors own 42.21% of the company’s stock.

Mid Penn Bancorp Stock Performance

Shares of MPB traded down $0.40 during midday trading on Monday, hitting $20.57. 16,716 shares of the stock traded hands, compared to its average volume of 39,235. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.93 and a current ratio of 0.93. Mid Penn Bancorp has a 1-year low of $18.25 and a 1-year high of $34.99. The business’s 50 day moving average price is $22.50 and its two-hundred day moving average price is $23.42. The firm has a market capitalization of $340.91 million, a PE ratio of 7.11 and a beta of 0.57.

Mid Penn Bancorp (NASDAQ:MPB) last posted its earnings results on Thursday, July 27th. The financial services provider reported $0.68 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.02). Mid Penn Bancorp had a return on equity of 10.49% and a net margin of 21.60%. The firm had revenue of $61.80 million during the quarter, compared to the consensus estimate of $40.74 million. Equities research analysts predict that Mid Penn Bancorp will post 2.78 EPS for the current fiscal year.

Mid Penn Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 28th. Investors of record on Thursday, August 10th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend was Wednesday, August 9th. Mid Penn Bancorp’s dividend payout ratio is currently 27.12%.

Mid Penn Bancorp Company Profile

Mid Penn Bancorp, Inc operates as the bank holding company for Mid Penn Bank that engages in the provision of 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.