Mid Penn Bancorp, Inc. (NASDAQ:MPB) CEO Rory G. Ritrievi Buys 500 Shares

Mid Penn Bancorp, Inc. (NASDAQ:MPB) CEO Rory G. Ritrievi acquired 500 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average cost of $29.50 per share, for a total transaction of $14,750.00. Following the purchase, the chief executive officer now owns 49,529 shares of the company’s stock, valued at $1,461,105.50. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Mid Penn Bancorp Stock Performance

Shares of MPB opened at $30.67 on Wednesday. Mid Penn Bancorp, Inc. has a 12 month low of $19.20 and a 12 month high of $32.86. The stock has a fifty day moving average price of $30.03 and a 200-day moving average price of $25.68. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.12. The firm has a market cap of $512.19 million, a PE ratio of 10.54 and a beta of 0.57.

Mid Penn Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.80 annualized dividend and a dividend yield of 2.61%. Mid Penn Bancorp’s dividend payout ratio is presently 27.49%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MPB. Piper Sandler increased their target price on Mid Penn Bancorp from $31.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. StockNews.com cut Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, October 14th. Finally, Keefe, Bruyette & Woods increased their target price on Mid Penn Bancorp from $34.00 to $37.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th.

Institutional Trading of Mid Penn Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Mid Penn Bancorp by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 688,363 shares of the financial services provider’s stock valued at $13,774,000 after purchasing an additional 12,314 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Mid Penn Bancorp by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 418,963 shares of the financial services provider’s stock valued at $9,195,000 after purchasing an additional 31,292 shares during the last quarter. LSV Asset Management lifted its holdings in shares of Mid Penn Bancorp by 21.0% during the 2nd quarter. LSV Asset Management now owns 156,059 shares of the financial services provider’s stock valued at $3,425,000 after purchasing an additional 27,098 shares during the last quarter. American Century Companies Inc. raised its stake in Mid Penn Bancorp by 8.8% in the 2nd quarter. American Century Companies Inc. now owns 144,397 shares of the financial services provider’s stock worth $3,170,000 after acquiring an additional 11,731 shares during the last quarter. Finally, Kennedy Capital Management LLC raised its stake in Mid Penn Bancorp by 126.4% in the 1st quarter. Kennedy Capital Management LLC now owns 96,086 shares of the financial services provider’s stock worth $1,923,000 after acquiring an additional 53,650 shares during the last quarter. Hedge funds and other institutional investors own 43.11% of the company’s stock.

Mid Penn Bancorp Company Profile

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.