Mid Penn Bancorp, Inc. (NASDAQ:MPB) Insider Joan E. Dickinson Buys 678 Shares

Mid Penn Bancorp, Inc. (NASDAQ:MPB) insider Joan E. Dickinson acquired 678 shares of Mid Penn Bancorp stock in a transaction dated Friday, November 1st. The stock was bought at an average price of $29.50 per share, with a total value of $20,001.00. Following the completion of the purchase, the insider now directly owns 4,493 shares in the company, valued at $132,543.50. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Mid Penn Bancorp Stock Performance

Shares of NASDAQ:MPB opened at $30.67 on Wednesday. The firm has a market cap of $512.19 million, a PE ratio of 10.54 and a beta of 0.57. The firm’s 50 day simple moving average is $30.03 and its 200-day simple moving average is $25.68. Mid Penn Bancorp, Inc. has a one year low of $19.20 and a one year high of $32.86. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.95 and a current ratio of 0.95.

Mid Penn Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.61%. Mid Penn Bancorp’s dividend payout ratio is presently 27.49%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MPB shares. Piper Sandler upped their target price on shares of Mid Penn Bancorp from $31.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. StockNews.com downgraded shares of Mid Penn Bancorp from a “buy” rating to a “hold” rating in a report on Monday, October 14th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Mid Penn Bancorp from $34.00 to $37.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th.

Hedge Funds Weigh In On Mid Penn Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Heritage Oak Wealth Advisors LLC bought a new position in shares of Mid Penn Bancorp during the third quarter valued at approximately $378,000. McClarren Financial Advisors Inc. boosted its stake in Mid Penn Bancorp by 5,438.1% in the third quarter. McClarren Financial Advisors Inc. now owns 1,163 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 1,142 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Mid Penn Bancorp in the third quarter valued at approximately $163,000. New Wave Wealth Advisors LLC acquired a new stake in Mid Penn Bancorp in the second quarter valued at approximately $278,000. Finally, Squarepoint Ops LLC acquired a new stake in Mid Penn Bancorp in the second quarter valued at approximately $282,000. 43.11% of the stock is currently owned by institutional investors.

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.