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

Mid Penn Bancorp (NASDAQ:MPB) Director Thomas Brugger purchased 818 shares of the business’s stock in a transaction on Friday, March 6th. The stock was purchased at an average price of $31.35 per share, with a total value of $25,644.30. Following the purchase, the director owned 6,110 shares of the company’s stock, valued at approximately $191,548.50. The trade was a 15.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Mid Penn Bancorp Stock Up 0.8%

Shares of MPB stock opened at $31.77 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.95 and a current ratio of 0.95. The firm’s 50-day moving average is $32.63 and its 200-day moving average is $30.74. The stock has a market cap of $732.30 million, a price-to-earnings ratio of 12.46 and a beta of 0.55. Mid Penn Bancorp has a 52-week low of $22.50 and a 52-week high of $35.22.

Mid Penn Bancorp (NASDAQ:MPB) last posted its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 8.84% and a net margin of 16.04%. Sell-side analysts predict that Mid Penn Bancorp will post 3 EPS for the current year.

Mid Penn Bancorp Announces Dividend

The firm also recently announced a special dividend, which was paid on Tuesday, February 17th. Investors of record on Friday, February 6th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a dividend yield of 254.0%. Mid Penn Bancorp’s payout ratio is presently 34.51%.

Hedge Funds Weigh In On Mid Penn Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue acquired a new stake in Mid Penn Bancorp during the 3rd quarter worth approximately $26,000. Legal & General Group Plc grew its holdings in Mid Penn Bancorp by 35.6% in the 2nd quarter. Legal & General Group Plc now owns 1,877 shares of the financial services provider’s stock valued at $53,000 after buying an additional 493 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in Mid Penn Bancorp by 35.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,055 shares of the financial services provider’s stock valued at $58,000 after buying an additional 540 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Mid Penn Bancorp by 416.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,303 shares of the financial services provider’s stock worth $93,000 after buying an additional 2,664 shares during the period. Finally, Palouse Capital Management Inc. acquired a new stake in shares of Mid Penn Bancorp during the second quarter worth $96,000. Institutional investors and hedge funds own 43.11% of the company’s stock.

Analysts Set New Price Targets

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

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.