Thomas Brugger Buys 818 Shares of Mid Penn Bancorp (NASDAQ:MPB) Stock

Mid Penn Bancorp (NASDAQ:MPB) Director Thomas Brugger bought 818 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were bought at an average price of $31.35 per share, with a total value of $25,644.30. Following the completion of the transaction, the director owned 6,110 shares in the company, valued at approximately $191,548.50. This trade represents a 15.46% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Mid Penn Bancorp Price Performance

Shares of NASDAQ MPB traded up $0.01 during mid-day trading on Monday, reaching $31.53. The company had a trading volume of 164,591 shares, compared to its average volume of 121,492. The firm has a market cap of $726.77 million, a price-to-earnings ratio of 12.36 and a beta of 0.55. The business’s 50-day simple moving average is $32.61 and its 200 day simple moving average is $30.71. Mid Penn Bancorp has a one year low of $22.50 and a one year high of $35.22. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.95 and a current ratio of 0.95.

Mid Penn Bancorp (NASDAQ:MPB) last posted its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.03. The business had revenue of $61.52 million during the quarter, compared to analysts’ expectations of $62.65 million. Mid Penn Bancorp had a net margin of 16.04% and a return on equity of 8.84%. 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 declared a special dividend, which was paid on Tuesday, February 17th. Stockholders of record on Friday, February 6th were issued a dividend of $0.05 per share. This represents a dividend yield of 254.0%. The ex-dividend date of this dividend was Friday, February 6th. Mid Penn Bancorp’s dividend payout ratio is 34.51%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Mid Penn Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Wall Street Zen cut Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, January 24th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $37.00.

Institutional Trading of Mid Penn Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP increased its holdings in shares of Mid Penn Bancorp by 25.4% during the third quarter. Wellington Management Group LLP now owns 2,224,513 shares of the financial services provider’s stock worth $63,710,000 after buying an additional 450,909 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Mid Penn Bancorp by 102.2% during the 3rd quarter. Alliancebernstein L.P. now owns 802,098 shares of the financial services provider’s stock valued at $22,972,000 after acquiring an additional 405,316 shares in the last quarter. Franklin Resources Inc. grew its position in Mid Penn Bancorp by 1,238.5% during the 3rd quarter. Franklin Resources Inc. now owns 126,056 shares of the financial services provider’s stock worth $3,610,000 after acquiring an additional 116,638 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Mid Penn Bancorp in the 2nd quarter worth about $3,186,000. Finally, Geode Capital Management LLC increased its holdings in Mid Penn Bancorp by 21.4% in the 2nd quarter. Geode Capital Management LLC now owns 501,446 shares of the financial services provider’s stock worth $14,144,000 after purchasing an additional 88,398 shares in the last quarter. Institutional investors own 43.11% of the company’s stock.

Mid Penn Bancorp Company Profile

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.