Bank of New York Mellon Corp Boosts Stake in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Bank of New York Mellon Corp grew its stake in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) by 7.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 72,676 shares of the financial services provider’s stock after purchasing an additional 5,153 shares during the quarter. Bank of New York Mellon Corp owned 0.44% of Mid Penn Bancorp worth $1,595,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of MPB. BNP Paribas Financial Markets lifted its stake in shares of 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 worth $357,000 after acquiring an additional 8,545 shares in the last quarter. BHZ Capital Management LP lifted its position in Mid Penn Bancorp by 53.8% in the fourth quarter. BHZ Capital Management LP now owns 23,739 shares of the financial services provider’s stock worth $576,000 after purchasing an additional 8,307 shares during the period. LSV Asset Management lifted its position in Mid Penn Bancorp by 11.1% in the first quarter. LSV Asset Management now owns 128,961 shares of the financial services provider’s stock worth $2,581,000 after purchasing an additional 12,883 shares during the period. Empowered Funds LLC lifted its position in Mid Penn Bancorp by 7.8% in the first quarter. Empowered Funds LLC now owns 31,268 shares of the financial services provider’s stock worth $626,000 after purchasing an additional 2,275 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Mid Penn Bancorp by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 688,363 shares of the financial services provider’s stock valued at $13,774,000 after acquiring an additional 12,314 shares during the last quarter. Institutional investors and hedge funds own 43.11% of the company’s stock.

Mid Penn Bancorp Stock Up 1.0 %

MPB stock opened at $30.16 on Thursday. Mid Penn Bancorp, Inc. has a twelve month low of $18.63 and a twelve month high of $30.74. The company has a market cap of $503.34 million, a PE ratio of 13.06 and a beta of 0.58. The business’s 50-day simple moving average is $27.75 and its 200 day simple moving average is $23.19. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.12.

Mid Penn Bancorp (NASDAQ:MPB) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.06. The company had revenue of $44.10 million for the quarter, compared to the consensus estimate of $41.63 million. Mid Penn Bancorp had a return on equity of 7.99% and a net margin of 15.57%. On average, research analysts anticipate that Mid Penn Bancorp, Inc. will post 2.81 earnings per share for the current year.

Mid Penn Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.65%. The ex-dividend date was Friday, August 9th. Mid Penn Bancorp’s payout ratio is currently 34.63%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MPB. Piper Sandler increased their price objective on Mid Penn Bancorp from $25.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. StockNews.com upgraded Mid Penn Bancorp from a “hold” rating to a “buy” rating in a report on Friday, August 9th.

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.