Segall Bryant & Hamill LLC Makes New Investment in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Segall Bryant & Hamill LLC acquired a new stake in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 54,509 shares of the financial services provider’s stock, valued at approximately $1,626,000. Segall Bryant & Hamill LLC owned approximately 0.33% of Mid Penn Bancorp as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in MPB. Kennedy Capital Management LLC grew its position in Mid Penn Bancorp by 126.4% during the first quarter. Kennedy Capital Management LLC now owns 96,086 shares of the financial services provider’s stock valued at $1,923,000 after acquiring an additional 53,650 shares during the last quarter. Dimensional Fund Advisors LP grew 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 raised its position in Mid Penn Bancorp by 21.0% in the 2nd quarter. LSV Asset Management now owns 156,059 shares of the financial services provider’s stock worth $3,425,000 after purchasing an additional 27,098 shares during the period. Squarepoint Ops LLC bought a new stake in Mid Penn Bancorp in the second quarter worth $282,000. Finally, Heritage Oak Wealth Advisors LLC purchased a new stake in Mid Penn Bancorp during the third quarter valued at about $378,000. 43.11% of the stock is owned by institutional investors.

Insider Transactions at Mid Penn Bancorp

In related news, Director Albert J. Evans acquired 8,474 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was acquired at an average cost of $29.50 per share, for a total transaction of $249,983.00. Following the acquisition, the director now owns 34,712 shares of the company’s stock, valued at $1,024,004. This trade represents a 32.30 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders have acquired 9,669 shares of company stock worth $285,241. 10.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MPB has been the subject of a number of recent research reports. Piper Sandler boosted their target price on Mid Penn Bancorp from $31.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Keefe, Bruyette & Woods lifted their price target on Mid Penn Bancorp from $34.00 to $37.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Finally, StockNews.com lowered Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, October 14th.

Mid Penn Bancorp Stock Performance

Mid Penn Bancorp stock opened at $32.43 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12. The firm has a market cap of $538.99 million, a P/E ratio of 11.14 and a beta of 0.57. Mid Penn Bancorp, Inc. has a 1-year low of $19.20 and a 1-year high of $33.23. The firm has a 50-day moving average of $30.77 and a 200-day moving average of $26.67.

Mid Penn Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Friday, November 8th. Mid Penn Bancorp’s dividend payout ratio (DPR) is currently 27.49%.

Mid Penn Bancorp 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.