Thrivent Financial for Lutherans Makes New Investment in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Thrivent Financial for Lutherans bought a new stake in Mid Penn Bancorp, Inc. (NASDAQ:MPB) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 9,114 shares of the financial services provider’s stock, valued at approximately $272,000. Thrivent Financial for Lutherans owned 0.05% of Mid Penn Bancorp as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Empowered Funds LLC boosted its stake in Mid Penn Bancorp by 5.2% in the third quarter. Empowered Funds LLC now owns 35,350 shares of the financial services provider’s stock valued at $1,054,000 after acquiring an additional 1,742 shares during the last quarter. Cornercap Investment Counsel Inc. bought a new position in shares of Mid Penn Bancorp in the 3rd quarter worth $263,000. Heritage Oak Wealth Advisors LLC acquired a new stake in shares of Mid Penn Bancorp during the third quarter worth $378,000. McClarren Financial Advisors Inc. increased its holdings in Mid Penn Bancorp by 5,438.1% in the third quarter. McClarren Financial Advisors Inc. now owns 1,163 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 1,142 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Mid Penn Bancorp in the third quarter valued at about $163,000. Institutional investors own 43.11% of the company’s stock.

Mid Penn Bancorp Trading Down 0.7 %

Shares of MPB stock opened at $31.16 on Friday. Mid Penn Bancorp, Inc. has a 12-month low of $19.20 and a 12-month high of $33.87. The company has a market capitalization of $517.88 million, a PE ratio of 10.71 and a beta of 0.56. The firm has a 50 day moving average price of $31.19 and a two-hundred day moving average price of $27.35. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.12.

Mid Penn Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Friday, November 8th were paid a $0.20 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.80 annualized dividend and a dividend yield of 2.57%. Mid Penn Bancorp’s dividend payout ratio (DPR) is presently 27.49%.

Insider Buying and Selling

In related news, Director Albert J. Evans bought 8,474 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was purchased at an average cost of $29.50 per share, for a total transaction of $249,983.00. Following the transaction, the director now owns 34,712 shares in the company, valued at $1,024,004. The trade was a 32.30 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have acquired 9,678 shares of company stock valued at $285,527. 10.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on MPB shares. Piper Sandler lifted their price target on shares of Mid Penn Bancorp from $31.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. StockNews.com lowered Mid Penn Bancorp from a “buy” rating to a “hold” rating in a report on Monday, October 14th. Finally, Keefe, Bruyette & Woods increased their price target on Mid Penn Bancorp from $34.00 to $37.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th.

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.