LSV Asset Management Sells 21,659 Shares of Mid Penn Bancorp $MPB

LSV Asset Management trimmed its position in Mid Penn Bancorp (NASDAQ:MPB) by 16.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 111,000 shares of the financial services provider’s stock after selling 21,659 shares during the quarter. LSV Asset Management owned approximately 0.48% of Mid Penn Bancorp worth $3,179,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MPB. State of Alaska Department of Revenue acquired a new stake in shares of Mid Penn Bancorp during the 3rd quarter worth approximately $26,000. Legal & General Group Plc boosted its stake in Mid Penn Bancorp by 35.6% in the second quarter. Legal & General Group Plc now owns 1,877 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 493 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in Mid Penn Bancorp by 35.6% in the second quarter. Ameritas Investment Partners Inc. now owns 2,055 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 540 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Mid Penn Bancorp by 416.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,303 shares of the financial services provider’s stock worth $93,000 after purchasing an additional 2,664 shares during the period. Finally, Palouse Capital Management Inc. bought a new position in shares of Mid Penn Bancorp during the 2nd quarter valued at about $96,000. 43.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on MPB shares. Wall Street Zen cut Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, January 24th. Keefe, Bruyette & Woods upped their price objective on Mid Penn Bancorp from $34.00 to $37.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Mid Penn Bancorp in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Mid Penn Bancorp Trading Up 1.2%

Shares of MPB stock opened at $33.74 on Monday. The stock has a market cap of $777.71 million, a P/E ratio of 13.23 and a beta of 0.56. Mid Penn Bancorp has a 1 year low of $22.50 and a 1 year high of $35.22. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.08. The stock has a 50 day simple moving average of $32.28 and a 200 day simple moving average of $30.16.

Mid Penn Bancorp (NASDAQ:MPB) last announced its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.03. The firm had revenue of $61.52 million during the quarter, compared to analysts’ expectations of $62.65 million. Mid Penn Bancorp had a return on equity of 8.84% and a net margin of 16.04%. On average, research analysts predict that Mid Penn Bancorp will post 3 earnings per share for the current fiscal year.

Mid Penn Bancorp Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Friday, February 6th will be paid a dividend of $0.05 per share. This represents a yield of 254.0%. The ex-dividend date is Friday, February 6th. Mid Penn Bancorp’s dividend payout ratio is presently 34.51%.

About Mid Penn Bancorp

Mid Penn Bancorp, Inc is a bank holding company headquartered in Hummelstown, Pennsylvania, serving as the parent of Mid Penn Bank. As a full-service financial institution, Mid Penn Bank operates a network of branches across central Pennsylvania, delivering retail and commercial banking services to individuals, families and businesses in its regional markets.

Through its banking subsidiary, the company offers a broad range of deposit products, including checking accounts, savings accounts and certificates of deposit, alongside consumer and commercial lending solutions.