Mid Penn Bancorp (NASDAQ:MPB) Director Thomas Brugger Acquires 818 Shares

Mid Penn Bancorp (NASDAQ:MPB) Director Thomas Brugger bought 818 shares of the company’s stock in a transaction dated Friday, March 6th. The stock was purchased at an average cost of $31.35 per share, for a total transaction of $25,644.30. Following the completion of the acquisition, the director owned 6,110 shares in the company, valued at $191,548.50. This trade represents a 15.46% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Mid Penn Bancorp Stock Performance

NASDAQ MPB traded up $0.01 during trading on Monday, reaching $31.53. 164,591 shares of the company’s stock were exchanged, compared to its average volume of 121,492. Mid Penn Bancorp has a fifty-two week low of $22.50 and a fifty-two week high of $35.22. The stock has a market capitalization of $726.77 million, a P/E ratio of 12.36 and a beta of 0.55. The business has a 50 day moving average price of $32.61 and a 200-day moving average price of $30.71. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.95 and a quick ratio of 0.95.

Mid Penn Bancorp (NASDAQ:MPB) last issued its earnings results on Wednesday, January 21st. The financial services provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.80 by $0.03. Mid Penn Bancorp had a return on equity of 8.84% and a net margin of 16.04%.The company had revenue of $61.52 million during the quarter, compared to the consensus estimate of $62.65 million. Sell-side analysts forecast that Mid Penn Bancorp will post 3 earnings per share for the current fiscal year.

Mid Penn Bancorp Announces Dividend

The business also recently announced a special dividend, which was paid on Tuesday, February 17th. Stockholders of record on Friday, February 6th were paid a dividend of $0.05 per share. This represents a dividend yield of 254.0%. The ex-dividend date was Friday, February 6th. Mid Penn Bancorp’s dividend payout ratio (DPR) is currently 34.51%.

Institutional Trading of Mid Penn Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of MPB. State of Alaska Department of Revenue acquired a new position in shares of Mid Penn Bancorp during the 3rd quarter worth approximately $26,000. Legal & General Group Plc boosted its stake in shares of Mid Penn Bancorp by 35.6% in the second quarter. Legal & General Group Plc now owns 1,877 shares of the financial services provider’s stock valued at $53,000 after buying an additional 493 shares during the period. Ameritas Investment Partners Inc. boosted its stake in shares of Mid Penn Bancorp by 35.6% in the second quarter. Ameritas Investment Partners Inc. now owns 2,055 shares of the financial services provider’s stock valued at $58,000 after buying an additional 540 shares during the period. Tower Research Capital LLC TRC grew its position in Mid Penn Bancorp by 416.9% during the second quarter. Tower Research Capital LLC TRC now owns 3,303 shares of the financial services provider’s stock worth $93,000 after buying an additional 2,664 shares in the last quarter. Finally, Palouse Capital Management Inc. acquired a new stake in Mid Penn Bancorp during the second quarter worth approximately $96,000. Institutional investors and hedge funds own 43.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wall Street Zen cut shares of Mid Penn Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, January 24th. Weiss Ratings raised Mid Penn Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Mid Penn Bancorp has a consensus rating of “Buy” and a consensus price target of $37.00.

Mid Penn Bancorp Company Profile

Mid Penn Bancorp, Inc is a bank holding company headquartered in Hummelstown, Pennsylvania, serving as the parent of Mid Penn Bank. As a full-service financial institution, Mid Penn Bank operates a network of branches across central Pennsylvania, delivering retail and commercial banking services to individuals, families and businesses in its regional markets.

Through its banking subsidiary, the company offers a broad range of deposit products, including checking accounts, savings accounts and certificates of deposit, alongside consumer and commercial lending solutions.