Mid Penn Bancorp (NASDAQ:MPB) Sees Unusually-High Trading Volume – Still a Buy?

Mid Penn Bancorp, Inc. (NASDAQ:MPB) shares saw unusually-strong trading volume on Friday . Approximately 56,351 shares traded hands during trading, an increase of 9% from the previous session’s volume of 51,807 shares.The stock last traded at $25.77 and had previously closed at $26.25.

Mid Penn Bancorp Stock Down 2.6 %

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 moving average of $28.29 and a two-hundred day moving average of $29.63. The firm has a market capitalization of $494.35 million, a price-to-earnings ratio of 8.80 and a beta of 0.53.

Mid Penn Bancorp (NASDAQ:MPB) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.71. Mid Penn Bancorp had a return on equity of 8.43% and a net margin of 15.99%. As a group, sell-side analysts anticipate that Mid Penn Bancorp, Inc. will post 3 EPS for the current fiscal year.

Mid Penn Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, February 7th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend was Friday, February 7th. Mid Penn Bancorp’s dividend payout ratio is currently 27.59%.

Insider Activity at Mid Penn Bancorp

In other Mid Penn Bancorp news, Director Soto Matthew G. De purchased 2,575 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was bought at an average cost of $29.07 per share, with a total value of $74,855.25. Following the transaction, the director now directly owns 103,162 shares in the company, valued at approximately $2,998,919.34. The trade was a 2.56 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Rory G. Ritrievi acquired 3,365 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average price of $29.56 per share, with a total value of $99,469.40. Following the completion of the acquisition, the chief executive officer now owns 10,750 shares in the company, valued at $317,770. The trade was a 45.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 9,007 shares of company stock worth $266,467. Corporate insiders own 10.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its position in shares of Mid Penn Bancorp by 127.4% in the fourth quarter. Wellington Management Group LLP now owns 1,452,177 shares of the financial services provider’s stock worth $41,881,000 after buying an additional 813,583 shares in the last quarter. FJ Capital Management LLC purchased a new position in Mid Penn Bancorp in the fourth quarter worth about $11,243,000. Vanguard Group Inc. increased its stake in Mid Penn Bancorp by 17.3% during the fourth quarter. Vanguard Group Inc. now owns 962,636 shares of the financial services provider’s stock worth $27,762,000 after acquiring an additional 141,756 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Mid Penn Bancorp by 62.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 344,453 shares of the financial services provider’s stock valued at $9,934,000 after purchasing an additional 132,814 shares during the period. Finally, Boston Partners purchased a new position in shares of Mid Penn Bancorp in the 4th quarter worth approximately $2,630,000. 43.11% of the stock is currently 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.