Mid Penn Bancorp, Inc. (NASDAQ:MPB) Short Interest Update

Mid Penn Bancorp, Inc. (NASDAQ:MPB) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 73,900 shares, a decline of 15.9% from the September 30th total of 87,900 shares. Based on an average daily trading volume, of 32,500 shares, the short-interest ratio is presently 2.3 days.

Mid Penn Bancorp Stock Performance

Mid Penn Bancorp stock traded down $0.23 during midday trading on Wednesday, reaching $31.88. 29,435 shares of the company’s stock were exchanged, compared to its average volume of 34,514. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.95 and a current ratio of 0.95. The stock’s 50-day simple moving average is $29.90 and its 200 day simple moving average is $25.33. The firm has a market cap of $532.05 million, a price-to-earnings ratio of 13.80 and a beta of 0.58. Mid Penn Bancorp has a 52 week low of $18.75 and a 52 week high of $32.86.

Mid Penn Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Friday, November 8th. Mid Penn Bancorp’s dividend payout ratio (DPR) is presently 34.63%.

Hedge Funds Weigh In On Mid Penn Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its position in Mid Penn Bancorp by 53.2% during the first quarter. BNP Paribas Financial Markets now owns 22,545 shares of the financial services provider’s stock worth $451,000 after acquiring an additional 7,832 shares during the last quarter. LSV Asset Management increased its stake in shares of Mid Penn Bancorp by 11.1% during the first quarter. LSV Asset Management now owns 128,961 shares of the financial services provider’s stock worth $2,581,000 after purchasing an additional 12,883 shares during the period. Empowered Funds LLC lifted its holdings in Mid Penn Bancorp by 7.8% during the 1st quarter. Empowered Funds LLC now owns 31,268 shares of the financial services provider’s stock worth $626,000 after purchasing an additional 2,275 shares during the last quarter. Vanguard Group Inc. grew its holdings in Mid Penn Bancorp by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 688,363 shares of the financial services provider’s stock valued at $13,774,000 after buying an additional 12,314 shares in the last quarter. Finally, Kennedy Capital Management LLC grew its holdings in Mid Penn Bancorp by 126.4% in the 1st quarter. Kennedy Capital Management LLC now owns 96,086 shares of the financial services provider’s stock valued at $1,923,000 after buying an additional 53,650 shares in the last quarter. 43.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on MPB. StockNews.com lowered Mid Penn Bancorp from a “buy” rating to a “hold” rating in a report on Monday, October 14th. Keefe, Bruyette & Woods boosted their price target on Mid Penn Bancorp from $34.00 to $37.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Piper Sandler raised their target price on shares of Mid Penn Bancorp from $31.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday.

About Mid Penn Bancorp

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.