Rory G. Ritrievi Acquires 3,365 Shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) Stock

Mid Penn Bancorp, Inc. (NASDAQ:MPB) CEO Rory G. Ritrievi bought 3,365 shares of the stock in a transaction dated Friday, February 14th. The stock was bought at an average price of $29.56 per share, with a total value of $99,469.40. Following the acquisition, the chief executive officer now owns 10,750 shares in the company, valued at approximately $317,770. This represents a 45.57 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Mid Penn Bancorp Stock Up 0.3 %

MPB stock opened at $29.58 on Friday. The company has a fifty day moving average price of $29.55 and a 200 day moving average price of $29.80. Mid Penn Bancorp, Inc. has a 12 month low of $19.20 and a 12 month high of $33.87. The company has a market cap of $572.67 million, a price-to-earnings ratio of 10.20 and a beta of 0.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.95 and a quick ratio of 0.94.

Mid Penn Bancorp (NASDAQ:MPB) last announced 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%. Sell-side analysts expect 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 dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $0.80 dividend on an annualized basis and a yield of 2.70%. Mid Penn Bancorp’s payout ratio is currently 27.59%.

Hedge Funds Weigh In On Mid Penn Bancorp

Large investors have recently bought and sold shares of the company. McClarren Financial Advisors Inc. raised its position in Mid Penn Bancorp by 5,438.1% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 1,163 shares of the financial services provider’s stock worth $34,000 after buying an additional 1,142 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of Mid Penn Bancorp during the 4th quarter worth $45,000. Emerald Advisers LLC grew its stake in shares of Mid Penn Bancorp by 261.6% during the 4th quarter. Emerald Advisers LLC now owns 2,419 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 1,750 shares during the period. SG Americas Securities LLC acquired a new position in shares of Mid Penn Bancorp during the 3rd quarter worth $163,000. Finally, Mystic Asset Management Inc. acquired a new position in shares of Mid Penn Bancorp during the 4th quarter worth $210,000. Hedge funds and other institutional investors own 43.11% of the company’s stock.

Analyst Upgrades and Downgrades

MPB has been the subject of several research reports. Keefe, Bruyette & Woods upped their price target on shares of Mid Penn Bancorp from $34.00 to $37.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Piper Sandler upped their price target on shares of Mid Penn Bancorp from $31.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, October 28th.

Mid Penn Bancorp Company Profile

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.