Mid Penn Bancorp, Inc. (NASDAQ:MPB) Director Albert J. Evans Purchases 8,474 Shares

Mid Penn Bancorp, Inc. (NASDAQ:MPB) Director Albert J. Evans acquired 8,474 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were bought at an average cost of $29.50 per share, for a total transaction of $249,983.00. Following the completion of the acquisition, the director now directly owns 34,712 shares of the company’s stock, valued at approximately $1,024,004. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Mid Penn Bancorp Price Performance

Mid Penn Bancorp stock traded down $0.35 during mid-day trading on Tuesday, reaching $30.66. 48,772 shares of the company’s stock traded hands, compared to its average volume of 37,360. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.12. Mid Penn Bancorp, Inc. has a 12-month low of $19.20 and a 12-month high of $32.86. The company has a market cap of $512.02 million, a price-to-earnings ratio of 10.74 and a beta of 0.57. The stock has a 50 day moving average of $30.01 and a two-hundred day moving average of $25.61.

Mid Penn Bancorp Announces Dividend

The firm also recently disclosed 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 2.61%. The ex-dividend date is Friday, November 8th. Mid Penn Bancorp’s dividend payout ratio (DPR) is presently 27.49%.

Institutional Trading of Mid Penn Bancorp

Hedge funds have recently modified their holdings of the company. McClarren Financial Advisors Inc. raised its holdings in shares of Mid Penn Bancorp by 5,438.1% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 1,163 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 1,142 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Mid Penn Bancorp in the third quarter valued at $163,000. New Wave Wealth Advisors LLC purchased a new position in Mid Penn Bancorp during the second quarter worth about $278,000. Squarepoint Ops LLC purchased a new position in shares of Mid Penn Bancorp in the 2nd quarter worth about $282,000. Finally, Heritage Oak Wealth Advisors LLC acquired a new stake in shares of Mid Penn Bancorp in the third quarter valued at about $378,000. 43.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. StockNews.com lowered shares of Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, October 14th. Keefe, Bruyette & Woods lifted their price objective on shares of Mid Penn Bancorp from $34.00 to $37.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Finally, Piper Sandler lifted their price objective on shares of Mid Penn Bancorp from $31.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th.

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.