Jane Street Group LLC Acquires 9,324 Shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Jane Street Group LLC boosted its position in Mid Penn Bancorp, Inc. (NASDAQ:MPB) by 72.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,145 shares of the financial services provider’s stock after purchasing an additional 9,324 shares during the period. Jane Street Group LLC owned approximately 0.13% of Mid Penn Bancorp worth $661,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Rhumbline Advisers increased its stake in shares of Mid Penn Bancorp by 4.1% in the second quarter. Rhumbline Advisers now owns 22,344 shares of the financial services provider’s stock worth $490,000 after acquiring an additional 877 shares during the period. ClariVest Asset Management LLC lifted its stake in shares of Mid Penn Bancorp by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 38,366 shares of the financial services provider’s stock valued at $842,000 after purchasing an additional 1,072 shares during the last quarter. McClarren Financial Advisors Inc. boosted its position in shares of Mid Penn Bancorp by 5,438.1% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 1,163 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 1,142 shares during the period. Empowered Funds LLC grew its position in Mid Penn Bancorp by 5.2% in the 3rd 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 in the last quarter. Finally, Martingale Asset Management L P lifted its holdings in Mid Penn Bancorp by 12.0% during the 3rd quarter. Martingale Asset Management L P now owns 42,502 shares of the financial services provider’s stock worth $1,268,000 after buying an additional 4,550 shares in the last quarter. 43.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MPB has been the subject of several recent research reports. 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. Piper Sandler lifted their price objective on Mid Penn Bancorp from $31.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Finally, StockNews.com cut Mid Penn Bancorp from a “buy” rating to a “hold” rating in a report on Monday, October 14th.

Mid Penn Bancorp Price Performance

Mid Penn Bancorp stock opened at $28.40 on Friday. Mid Penn Bancorp, Inc. has a 52 week low of $19.20 and a 52 week high of $33.87. The business’s fifty day moving average is $31.05 and its two-hundred day moving average is $28.56. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.94 and a current ratio of 0.95. The firm has a market cap of $472.01 million, a P/E ratio of 9.76 and a beta of 0.57.

Mid Penn Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Friday, November 8th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.82%. The ex-dividend date was Friday, November 8th. Mid Penn Bancorp’s dividend payout ratio (DPR) is 27.49%.

Insider Activity at Mid Penn Bancorp

In other news, Director Albert J. Evans purchased 8,474 shares of the company’s stock in a transaction on Friday, November 1st. The shares were purchased at an average price of $29.50 per share, with a total value of $249,983.00. Following the purchase, the director now directly owns 34,712 shares of the company’s stock, valued at $1,024,004. This trade represents a 32.30 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders bought a total of 9,678 shares of company stock worth $285,510 in the last quarter. Corporate insiders own 10.70% of the company’s stock.

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.