Mid Penn Bancorp, Inc. (NASDAQ:MPB) Stake Cut by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its holdings in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) by 7.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,164 shares of the financial services provider’s stock after selling 849 shares during the period. Hsbc Holdings PLC’s holdings in Mid Penn Bancorp were worth $217,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of MPB. BNP Paribas Financial Markets lifted its holdings in shares of Mid Penn Bancorp by 53.2% in the 1st quarter. BNP Paribas Financial Markets now owns 22,545 shares of the financial services provider’s stock worth $451,000 after purchasing an additional 7,832 shares during the last quarter. Rhumbline Advisers lifted its stake in Mid Penn Bancorp by 4.1% in the second quarter. Rhumbline Advisers now owns 22,344 shares of the financial services provider’s stock valued at $490,000 after buying an additional 877 shares during the last quarter. BHZ Capital Management LP boosted its holdings in shares of Mid Penn Bancorp by 53.8% during the fourth quarter. BHZ Capital Management LP now owns 23,739 shares of the financial services provider’s stock valued at $576,000 after acquiring an additional 8,307 shares during the period. Empowered Funds LLC grew its position in shares of Mid Penn Bancorp by 7.8% during the first quarter. Empowered Funds LLC now owns 31,268 shares of the financial services provider’s stock worth $626,000 after acquiring an additional 2,275 shares during the last quarter. Finally, ClariVest Asset Management LLC grew its position in shares of Mid Penn Bancorp by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 38,366 shares of the financial services provider’s stock worth $842,000 after acquiring an additional 1,072 shares during the last quarter. 43.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the stock. Piper Sandler upped their target price on shares of Mid Penn Bancorp from $25.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. StockNews.com raised Mid Penn Bancorp from a “hold” rating to a “buy” rating in a report on Friday, August 9th.

Mid Penn Bancorp Stock Performance

Shares of MPB opened at $29.39 on Friday. The firm has a market capitalization of $490.49 million, a PE ratio of 12.72 and a beta of 0.58. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average price of $28.63 and a 200 day moving average price of $23.94. Mid Penn Bancorp, Inc. has a 52-week low of $18.63 and a 52-week high of $30.91.

Mid Penn Bancorp (NASDAQ:MPB) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.06. The business had revenue of $44.10 million during the quarter, compared to analysts’ expectations of $41.63 million. Mid Penn Bancorp had a net margin of 15.57% and a return on equity of 7.99%. On average, sell-side analysts anticipate that Mid Penn Bancorp, Inc. will post 2.81 earnings per share for the current fiscal year.

Mid Penn Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued a $0.20 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.80 annualized dividend and a dividend yield of 2.72%. Mid Penn Bancorp’s dividend payout ratio is currently 34.63%.

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.