Emerald Advisers LLC Boosts Stake in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Emerald Advisers LLC lifted its holdings in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) by 261.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,419 shares of the financial services provider’s stock after buying an additional 1,750 shares during the period. Emerald Advisers LLC’s holdings in Mid Penn Bancorp were worth $70,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Wellington Management Group LLP boosted its holdings in Mid Penn Bancorp by 14.3% in the third 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 last quarter. Geode Capital Management LLC boosted its stake in shares of Mid Penn Bancorp by 5.3% in 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 last quarter. Rhumbline Advisers boosted its stake in shares of Mid Penn Bancorp by 2.6% in the 4th quarter. Rhumbline Advisers now owns 24,386 shares of the financial services provider’s stock worth $703,000 after buying an additional 621 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Mid Penn Bancorp in the third quarter worth about $542,000. Finally, Barclays PLC boosted its position in Mid Penn Bancorp by 61.3% in the third quarter. Barclays PLC now owns 36,805 shares of the financial services provider’s stock worth $1,098,000 after purchasing an additional 13,986 shares during the last quarter. 43.11% of the stock is owned by hedge funds and other institutional investors.

Mid Penn Bancorp Stock Performance

MPB opened at $25.39 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12. The company has a market cap of $491.45 million, a price-to-earnings ratio of 8.76 and a beta of 0.53. The company’s 50 day moving average is $28.48 and its 200 day moving average is $29.72. Mid Penn Bancorp, Inc. has a 12-month low of $19.20 and a 12-month high of $33.87.

Mid Penn Bancorp (NASDAQ:MPB) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.71. Mid Penn Bancorp had a return on equity of 8.43% and a net margin of 15.99%. On average, equities research analysts predict that Mid Penn Bancorp, Inc. will post 3 EPS for the current year.

Mid Penn Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, February 7th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend was Friday, February 7th. Mid Penn Bancorp’s dividend payout ratio (DPR) is 27.59%.

Insider Activity

In related news, CEO Rory G. Ritrievi bought 3,050 shares of the stock in a transaction dated Monday, January 27th. The shares were purchased at an average price of $30.05 per share, with a total value of $91,652.50. Following the completion of the acquisition, the chief executive officer now owns 7,385 shares of the company’s stock, valued at $221,919.25. This represents a 70.36 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Soto Matthew G. De bought 2,575 shares of the stock in a transaction dated Tuesday, February 4th. The stock was bought at an average cost of $29.07 per share, for a total transaction of $74,855.25. Following the acquisition, the director now directly owns 103,162 shares of the company’s stock, valued at approximately $2,998,919.34. This represents a 2.56 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 9,007 shares of company stock worth $266,467 over the last ninety days. Corporate insiders own 10.70% of the company’s stock.

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.