Mid Penn Bancorp (NASDAQ:MPB) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $28.08 and traded as high as $29.49. Mid Penn Bancorp shares last traded at $29.35, with a volume of 68,176 shares.

Wall Street Analysts Forecast Growth

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

Mid Penn Bancorp Stock Up 0.8 %

The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.12. The firm has a 50 day simple moving average of $31.42 and a 200-day simple moving average of $28.20. The stock has a market cap of $491.62 million, a P/E ratio of 10.16 and a beta of 0.56.

Mid Penn Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Friday, November 8th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date was Friday, November 8th. Mid Penn Bancorp’s dividend payout ratio is currently 27.49%.

Insider Buying and Selling at Mid Penn Bancorp

In other Mid Penn Bancorp news, Director Albert J. Evans purchased 8,474 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was purchased 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 in the company, valued at approximately $1,024,004. The trade was a 32.30 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have acquired 9,678 shares of company stock valued at $285,527. 10.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Mid Penn Bancorp

Several large investors have recently made changes to their positions in the company. Wellington Management Group LLP raised its holdings in shares of Mid Penn Bancorp by 14.3% in 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 during the period. Dimensional Fund Advisors LP grew its position in Mid Penn Bancorp by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 418,963 shares of the financial services provider’s stock worth $9,195,000 after acquiring an additional 31,292 shares in the last quarter. Geode Capital Management LLC grew its position in 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 lifted its stake in Mid Penn Bancorp by 4.9% in the third quarter. State Street Corp now owns 302,384 shares of the financial services provider’s stock worth $9,020,000 after purchasing an additional 14,148 shares during the last quarter. Finally, LSV Asset Management lifted its stake in Mid Penn Bancorp by 21.0% in the second 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 last quarter. 43.11% of the stock is currently owned by institutional investors and hedge funds.

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.