Rory G. Ritrievi Buys 3,365 Shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) Stock

Mid Penn Bancorp, Inc. (NASDAQ:MPB) CEO Rory G. Ritrievi bought 3,365 shares of Mid Penn Bancorp stock in a transaction dated Friday, February 14th. The shares were purchased at an average cost of $29.56 per share, for a total transaction of $99,469.40. Following the completion of the transaction, the chief executive officer now owns 10,750 shares of the company’s stock, valued at approximately $317,770. This represents a 45.57 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Mid Penn Bancorp Stock Performance

Mid Penn Bancorp stock opened at $29.58 on Friday. Mid Penn Bancorp, Inc. has a 52 week low of $19.20 and a 52 week high of $33.87. 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 stock has a market cap of $572.67 million, a P/E ratio of 10.20 and a beta of 0.56. The stock has a 50 day moving average of $29.52 and a 200-day moving average of $29.82.

Mid Penn Bancorp (NASDAQ:MPB) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.71 EPS for the quarter, meeting analysts’ consensus estimates of $0.71. Mid Penn Bancorp had a net margin of 15.99% and a return on equity of 8.43%. On average, analysts expect that Mid Penn Bancorp, Inc. will post 3 EPS for the current fiscal year.

Mid Penn Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, February 7th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $0.80 dividend on an annualized basis and a yield of 2.70%. Mid Penn Bancorp’s dividend payout ratio (DPR) is 27.59%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MPB shares. Keefe, Bruyette & Woods lifted their price target on shares of Mid Penn Bancorp from $34.00 to $37.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Piper Sandler lifted their target price on Mid Penn Bancorp from $31.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th.

Institutional Trading of Mid Penn Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the company. McClarren Financial Advisors Inc. lifted its position in shares of Mid Penn Bancorp by 5,438.1% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 1,163 shares of the financial services provider’s stock worth $34,000 after buying an additional 1,142 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in Mid Penn Bancorp in the fourth quarter worth about $45,000. Emerald Advisers LLC boosted its stake in Mid Penn Bancorp by 261.6% in the fourth quarter. Emerald Advisers LLC now owns 2,419 shares of the financial services provider’s stock valued at $70,000 after acquiring an additional 1,750 shares during the period. SG Americas Securities LLC bought a new position in shares of Mid Penn Bancorp during the third quarter valued at approximately $163,000. Finally, Mystic Asset Management Inc. acquired a new stake in shares of Mid Penn Bancorp during the 4th quarter worth approximately $210,000. 43.11% of the stock is owned by institutional investors.

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.