Boston Partners Makes New Investment in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Boston Partners acquired a new stake in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 91,199 shares of the financial services provider’s stock, valued at approximately $2,630,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP increased its position in Mid Penn Bancorp by 14.3% during the 3rd quarter. Wellington Management Group LLP now owns 638,594 shares of the financial services provider’s stock worth $19,049,000 after purchasing an additional 79,851 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Mid Penn Bancorp by 5.3% in the third quarter. Geode Capital Management LLC now owns 350,375 shares of the financial services provider’s stock worth $10,454,000 after acquiring an additional 17,730 shares in the last quarter. State Street Corp raised its stake in shares of Mid Penn Bancorp by 4.9% in the 3rd quarter. State Street Corp now owns 302,384 shares of the financial services provider’s stock valued at $9,020,000 after acquiring an additional 14,148 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Mid Penn Bancorp by 19.7% during the 4th quarter. Bank of New York Mellon Corp now owns 74,669 shares of the financial services provider’s stock valued at $2,153,000 after acquiring an additional 12,297 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Mid Penn Bancorp by 28.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 62,542 shares of the financial services provider’s stock worth $1,866,000 after purchasing an additional 14,009 shares during the period. 43.11% of the stock is currently owned by institutional investors and hedge funds.

Mid Penn Bancorp Trading Down 2.2 %

NASDAQ:MPB opened at $25.39 on Friday. The business’s 50-day moving average is $28.48 and its two-hundred day moving average is $29.71. The firm has a market capitalization of $491.45 million, a PE ratio of 8.76 and a beta of 0.53. Mid Penn Bancorp, Inc. has a 12 month low of $19.20 and a 12 month high of $33.87. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.95 and a quick ratio of 0.94.

Mid Penn Bancorp (NASDAQ:MPB) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 EPS for the quarter, meeting the consensus estimate of $0.71. Mid Penn Bancorp had a return on equity of 8.43% and a net margin of 15.99%. Research analysts predict that Mid Penn Bancorp, Inc. will post 3 earnings per share for the current fiscal year.

Mid Penn Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, February 7th were given a dividend of $0.20 per share. The ex-dividend date was Friday, February 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.15%. Mid Penn Bancorp’s payout ratio is currently 27.59%.

Insider Activity

In other Mid Penn Bancorp news, CEO Rory G. Ritrievi bought 3,050 shares of Mid Penn Bancorp stock in a transaction dated Monday, January 27th. The stock was bought at an average cost of $30.05 per share, for a total transaction of $91,652.50. Following the purchase, the chief executive officer now owns 7,385 shares in the company, valued at $221,919.25. This represents a 70.36 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Soto Matthew G. De purchased 2,575 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was bought at an average price of $29.07 per share, with a total value of $74,855.25. Following the purchase, the director now owns 103,162 shares of the company’s stock, valued at approximately $2,998,919.34. The trade was a 2.56 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders bought 9,007 shares of company stock worth $266,467. 10.70% of the stock is currently owned by company insiders.

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.