Mid Penn Bancorp (NASDAQ:MPB) Share Price Crosses Below Two Hundred Day Moving Average of $21.54

Mid Penn Bancorp, Inc. (NASDAQ:MPB) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $21.54 and traded as low as $20.52. Mid Penn Bancorp shares last traded at $20.56, with a volume of 13,144 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com raised Mid Penn Bancorp from a “hold” rating to a “buy” rating in a report on Friday, May 10th.

Mid Penn Bancorp Stock Down 0.7 %

The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.94 and a current ratio of 0.94. The firm’s 50-day moving average is $20.95 and its two-hundred day moving average is $21.54. The stock has a market cap of $343.13 million, a P/E ratio of 8.90 and a beta of 0.59.

Mid Penn Bancorp (NASDAQ:MPB) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.02. Mid Penn Bancorp had a net margin of 13.89% and a return on equity of 8.08%. The firm had revenue of $42.29 million during the quarter, compared to analysts’ expectations of $40.87 million. On average, equities research analysts anticipate that Mid Penn Bancorp, Inc. will post 2.67 earnings per share for the current year.

Mid Penn Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 27th. Shareholders of record on Friday, May 10th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date was Thursday, May 9th. Mid Penn Bancorp’s dividend payout ratio is presently 34.63%.

Insiders Place Their Bets

In other news, Director Soto Matthew G. De purchased 9,615 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was bought at an average price of $20.76 per share, with a total value of $199,607.40. Following the acquisition, the director now directly owns 79,190 shares of the company’s stock, valued at $1,643,984.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On Mid Penn Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC boosted its stake in Mid Penn Bancorp by 15.0% in the 4th quarter. SG Americas Securities LLC now owns 8,052 shares of the financial services provider’s stock worth $196,000 after purchasing an additional 1,050 shares during the period. Trexquant Investment LP acquired a new position in Mid Penn Bancorp in the 3rd quarter worth $348,000. BNP Paribas Financial Markets boosted its stake in Mid Penn Bancorp by 138.5% in the 4th quarter. BNP Paribas Financial Markets now owns 14,713 shares of the financial services provider’s stock worth $357,000 after purchasing an additional 8,545 shares during the period. Summit Trail Advisors LLC boosted its stake in Mid Penn Bancorp by 20.7% in the 4th quarter. Summit Trail Advisors LLC now owns 15,149 shares of the financial services provider’s stock worth $368,000 after purchasing an additional 2,601 shares during the period. Finally, Barclays PLC lifted its position in Mid Penn Bancorp by 18.1% during the 3rd quarter. Barclays PLC now owns 23,154 shares of the financial services provider’s stock worth $466,000 after buying an additional 3,548 shares in the last quarter. Institutional investors and hedge funds own 43.11% of the company’s stock.

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.