Mid Penn Bancorp (NASDAQ:MPB) Shares Gap Down – Here’s What Happened

Mid Penn Bancorp, Inc. (NASDAQ:MPB)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $26.02, but opened at $25.43. Mid Penn Bancorp shares last traded at $26.08, with a volume of 15,869 shares trading hands.

Mid Penn Bancorp Stock Up 0.8 %

The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.94 and a current ratio of 0.95. The business’s 50 day moving average is $28.45 and its 200-day moving average is $29.70. The stock has a market cap of $507.90 million, a price-to-earnings ratio of 9.03 and a beta of 0.53.

Mid Penn Bancorp (NASDAQ:MPB) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share for the quarter, hitting the consensus estimate of $0.71. Mid Penn Bancorp had a net margin of 15.99% and a return on equity of 8.43%. On average, sell-side analysts predict that Mid Penn Bancorp, Inc. will post 3 EPS for the current fiscal year.

Mid Penn Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, February 7th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.05%. The ex-dividend date was Friday, February 7th. Mid Penn Bancorp’s payout ratio is 27.59%.

Insider Buying and Selling at Mid Penn Bancorp

In other Mid Penn Bancorp news, Director Soto Matthew G. De acquired 2,575 shares of the stock in a transaction dated Tuesday, February 4th. The stock was acquired at an average price of $29.07 per share, with a total value of $74,855.25. Following the completion of the purchase, the director now owns 103,162 shares in the company, valued at $2,998,919.34. This trade represents a 2.56 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Rory G. Ritrievi acquired 3,050 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was bought at an average price of $30.05 per share, with a total value of $91,652.50. Following the purchase, the chief executive officer now directly owns 7,385 shares in the company, valued at approximately $221,919.25. This trade represents a 70.36 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 9,007 shares of company stock worth $266,467. Corporate insiders own 10.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Stonebridge Financial Group LLC purchased a new position in Mid Penn Bancorp during the 4th quarter worth approximately $45,000. Emerald Advisers LLC grew its position in shares of Mid Penn Bancorp by 261.6% during the fourth quarter. Emerald Advisers LLC now owns 2,419 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 1,750 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Mid Penn Bancorp by 18.6% in the 4th quarter. SG Americas Securities LLC now owns 6,484 shares of the financial services provider’s stock valued at $187,000 after acquiring an additional 1,018 shares during the period. Mystic Asset Management Inc. purchased a new stake in Mid Penn Bancorp in the 4th quarter valued at $210,000. Finally, Semanteon Capital Management LP acquired a new stake in Mid Penn Bancorp during the 4th quarter worth $228,000. 43.11% of the stock is owned by hedge funds and other institutional investors.

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.