Mid Penn Bancorp (NASDAQ:MPB) Shares Pass Above Two Hundred Day Moving Average of $21.41

Mid Penn Bancorp, Inc. (NASDAQ:MPB)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.41 and traded as high as $22.01. Mid Penn Bancorp shares last traded at $21.69, with a volume of 14,052 shares traded.

Analyst Upgrades and Downgrades

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

Mid Penn Bancorp Stock Performance

The stock has a market capitalization of $362.01 million, a price-to-earnings ratio of 9.39 and a beta of 0.59. The stock’s 50 day moving average is $21.16 and its 200 day moving average is $21.41. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.13.

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

Mid Penn Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, May 27th. Shareholders of record on Friday, May 10th were issued a $0.20 dividend. The ex-dividend date was Thursday, May 9th. This represents a $0.80 dividend on an annualized basis and a yield of 3.69%. Mid Penn Bancorp’s dividend payout ratio (DPR) is 34.63%.

Insider Buying and Selling at Mid Penn Bancorp

In other news, Director Soto Matthew G. De bought 9,615 shares of Mid Penn Bancorp stock in a transaction on Monday, April 29th. The shares were bought at an average cost of $20.76 per share, for a total transaction of $199,607.40. Following the acquisition, the director now owns 79,190 shares in the company, valued at $1,643,984.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MPB. SG Americas Securities LLC lifted its holdings in shares of Mid Penn Bancorp by 15.0% during the 4th quarter. SG Americas Securities LLC now owns 8,052 shares of the financial services provider’s stock worth $196,000 after acquiring an additional 1,050 shares during the period. Trexquant Investment LP purchased a new position in Mid Penn Bancorp in the third quarter valued at approximately $348,000. BNP Paribas Financial Markets raised its holdings 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 buying an additional 8,545 shares during the period. Summit Trail Advisors LLC raised its holdings in Mid Penn Bancorp by 20.7% in the fourth quarter. Summit Trail Advisors LLC now owns 15,149 shares of the financial services provider’s stock valued at $368,000 after buying an additional 2,601 shares during the period. Finally, Grace & White Inc. NY raised its holdings in Mid Penn Bancorp by 75.0% in the fourth quarter. Grace & White Inc. NY now owns 21,103 shares of the financial services provider’s stock valued at $512,000 after buying an additional 9,042 shares during the period. 43.11% of the stock is currently owned by hedge funds and other institutional investors.

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.