Mid Penn Bancorp (NASDAQ:MPB) Stock Passes Above 200-Day Moving Average of $21.41

Mid Penn Bancorp, Inc. (NASDAQ:MPB) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.41 and traded as high as $22.01. Mid Penn Bancorp shares last traded at $21.69, with a volume of 14,052 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Mid Penn Bancorp from a “hold” rating to a “buy” rating in a report on Friday, May 10th.

Mid Penn Bancorp Stock Down 2.1 %

The stock has a market cap of $354.50 million, a price-to-earnings ratio of 9.19 and a beta of 0.59. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.94 and a current ratio of 0.94. The firm’s 50-day simple moving average is $21.18 and its two-hundred day simple moving average is $21.39.

Mid Penn Bancorp (NASDAQ:MPB) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. Mid Penn Bancorp had a net margin of 13.89% and a return on equity of 8.08%. The business had revenue of $42.29 million during the quarter, compared to analyst estimates of $40.87 million. On average, sell-side analysts expect that Mid Penn Bancorp, Inc. will post 2.67 EPS for the current fiscal year.

Mid Penn Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 27th. Stockholders of record on Friday, May 10th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, May 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.77%. Mid Penn Bancorp’s payout ratio is currently 34.63%.

Insider Activity at Mid Penn Bancorp

In other Mid Penn Bancorp news, Director Soto Matthew G. De bought 9,615 shares of the business’s stock in a transaction on Monday, April 29th. The shares were bought at an average cost of $20.76 per share, for a total transaction of $199,607.40. Following the transaction, the director now owns 79,190 shares in the company, valued at approximately $1,643,984.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 9.90% of the stock is owned by company insiders.

Institutional Trading of Mid Penn Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC increased its stake in shares of Mid Penn Bancorp by 15.0% in the 4th quarter. SG Americas Securities LLC now owns 8,052 shares of the financial services provider’s stock valued at $196,000 after acquiring an additional 1,050 shares during the last quarter. LSV Asset Management raised its holdings in Mid Penn Bancorp by 1.3% in the fourth quarter. LSV Asset Management now owns 116,078 shares of the financial services provider’s stock worth $2,818,000 after purchasing an additional 1,500 shares during the period. Empowered Funds LLC boosted 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 purchasing an additional 2,275 shares in the last quarter. Wharton Business Group LLC boosted its position in shares of Mid Penn Bancorp by 3.2% during the fourth quarter. Wharton Business Group LLC now owns 80,841 shares of the financial services provider’s stock worth $1,963,000 after purchasing an additional 2,510 shares in the last quarter. Finally, Summit Trail Advisors LLC grew its holdings in shares of Mid Penn Bancorp by 20.7% in the 4th quarter. Summit Trail Advisors LLC now owns 15,149 shares of the financial services provider’s stock valued at $368,000 after buying an additional 2,601 shares during the period. Institutional investors own 43.11% of the company’s stock.

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.