Hillsdale Investment Management Inc. Has $3.33 Million Stock Holdings in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Hillsdale Investment Management Inc. decreased its stake in Mid Penn Bancorp, Inc. (NASDAQ:MPB) by 1.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 115,578 shares of the financial services provider’s stock after selling 1,900 shares during the quarter. Hillsdale Investment Management Inc. owned 0.60% of Mid Penn Bancorp worth $3,333,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. lifted its holdings in shares of Mid Penn Bancorp by 14.5% in the fourth quarter. American Century Companies Inc. now owns 244,971 shares of the financial services provider’s stock valued at $7,065,000 after purchasing an additional 30,965 shares in the last quarter. Semanteon Capital Management LP purchased a new stake in Mid Penn Bancorp in the 4th quarter worth about $228,000. Boston Partners acquired a new stake in Mid Penn Bancorp during the 4th quarter worth about $2,630,000. Thrivent Financial for Lutherans boosted its position in Mid Penn Bancorp by 115.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 19,654 shares of the financial services provider’s stock worth $567,000 after acquiring an additional 10,540 shares during the period. Finally, Mystic Asset Management Inc. purchased a new position in Mid Penn Bancorp during the 4th quarter valued at about $210,000. Hedge funds and other institutional investors own 43.11% of the company’s stock.

Insider Transactions at Mid Penn Bancorp

In related news, CEO Rory G. Ritrievi acquired 3,365 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were acquired at an average cost of $29.56 per share, with a total value of $99,469.40. Following the purchase, the chief executive officer now owns 10,750 shares of the company’s stock, valued at approximately $317,770. The trade was a 45.57 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Soto Matthew G. De purchased 2,575 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was purchased at an average cost of $29.07 per share, for a total transaction of $74,855.25. Following the transaction, the director now owns 103,162 shares of the company’s stock, valued at approximately $2,998,919.34. This trade represents a 2.56 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 9,007 shares of company stock valued at $266,467 in the last three months. Corporate insiders own 10.70% of the company’s stock.

Mid Penn Bancorp Price Performance

NASDAQ MPB opened at $25.39 on Friday. The company has a 50 day simple moving average of $28.48 and a 200-day simple moving average of $29.71. Mid Penn Bancorp, Inc. has a 52-week low of $19.20 and a 52-week high of $33.87. The firm has a market capitalization of $491.45 million, a price-to-earnings ratio of 8.76 and a beta of 0.53. 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 issued its earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.71. Mid Penn Bancorp had a net margin of 15.99% and a return on equity of 8.43%. Equities research analysts predict that Mid Penn Bancorp, Inc. will post 3 earnings per share for the current fiscal year.

Mid Penn Bancorp Announces Dividend

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

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.