Emerald Mutual Fund Advisers Trust Sells 33,524 Shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Emerald Mutual Fund Advisers Trust cut its holdings in Mid Penn Bancorp, Inc. (NASDAQ:MPB) by 20.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 128,757 shares of the financial services provider’s stock after selling 33,524 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in Mid Penn Bancorp were worth $2,826,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MPB. Kennedy Capital Management LLC lifted its stake in shares of 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 valued at $1,923,000 after acquiring an additional 53,650 shares during the last quarter. LSV Asset Management grew its position in Mid Penn Bancorp by 11.1% during the 1st quarter. LSV Asset Management now owns 128,961 shares of the financial services provider’s stock worth $2,581,000 after acquiring an additional 12,883 shares during the last quarter. Vanguard Group Inc. increased its stake in Mid Penn Bancorp by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 688,363 shares of the financial services provider’s stock worth $13,774,000 after purchasing an additional 12,314 shares during the period. BNP Paribas Financial Markets lifted its position in Mid Penn Bancorp by 138.5% in the fourth quarter. BNP Paribas Financial Markets now owns 14,713 shares of the financial services provider’s stock valued at $357,000 after purchasing an additional 8,545 shares during the last quarter. Finally, BHZ Capital Management LP boosted its stake 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 purchasing an additional 8,307 shares during the period. 43.11% of the stock is currently owned by hedge funds and other institutional investors.

Mid Penn Bancorp Trading Down 1.3 %

MPB opened at $28.62 on Friday. Mid Penn Bancorp, Inc. has a one year low of $18.63 and a one year high of $30.51. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.95 and a quick ratio of 0.95. The business has a 50 day simple moving average of $26.55 and a two-hundred day simple moving average of $22.71. The firm has a market capitalization of $477.64 million, a price-to-earnings ratio of 12.39 and a beta of 0.58.

Mid Penn Bancorp (NASDAQ:MPB) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.06. Mid Penn Bancorp had a return on equity of 7.99% and a net margin of 15.57%. The company had revenue of $44.10 million during the quarter, compared to the consensus estimate of $41.63 million. Analysts predict that Mid Penn Bancorp, Inc. will post 2.74 EPS for the current year.

Mid Penn Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were given a $0.20 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.80 annualized dividend and a dividend yield of 2.80%. Mid Penn Bancorp’s dividend payout ratio is 34.63%.

Analyst Upgrades and Downgrades

MPB has been the topic of several analyst reports. StockNews.com raised shares of Mid Penn Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Piper Sandler raised their price target on shares of Mid Penn Bancorp from $25.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, July 29th.

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.