JPMorgan Chase & Co. Has $1.87 Million Holdings in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

JPMorgan Chase & Co. grew its stake in Mid Penn Bancorp, Inc. (NASDAQ:MPB) by 28.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,542 shares of the financial services provider’s stock after buying an additional 14,009 shares during the quarter. JPMorgan Chase & Co. owned 0.38% of Mid Penn Bancorp worth $1,866,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MPB. Franklin Resources Inc. bought a new position in Mid Penn Bancorp in the third quarter valued at $285,000. Barclays PLC grew its position in Mid Penn Bancorp by 61.3% in the third quarter. Barclays PLC now owns 36,805 shares of the financial services provider’s stock valued at $1,098,000 after purchasing an additional 13,986 shares in the last quarter. Geode Capital Management LLC grew its position in Mid Penn Bancorp by 5.3% in the third quarter. Geode Capital Management LLC now owns 350,375 shares of the financial services provider’s stock valued at $10,454,000 after purchasing an additional 17,730 shares in the last quarter. Jane Street Group LLC lifted its stake in Mid Penn Bancorp by 72.7% in the third quarter. Jane Street Group LLC now owns 22,145 shares of the financial services provider’s stock valued at $661,000 after acquiring an additional 9,324 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Mid Penn Bancorp by 14.3% in the third quarter. Wellington Management Group LLP now owns 638,594 shares of the financial services provider’s stock valued at $19,049,000 after acquiring an additional 79,851 shares during the last quarter. Institutional investors and hedge funds own 43.11% of the company’s stock.

Analysts Set New Price Targets

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

Insider Transactions at Mid Penn Bancorp

In other news, Director Albert J. Evans purchased 8,474 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were purchased at an average price of $29.50 per share, for a total transaction of $249,983.00. Following the transaction, the director now owns 34,712 shares of the company’s stock, valued at approximately $1,024,004. This trade represents a 32.30 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have bought 9,678 shares of company stock worth $285,510. Company insiders own 9.90% of the company’s stock.

Mid Penn Bancorp Stock Down 0.3 %

NASDAQ:MPB opened at $29.69 on Thursday. The firm’s 50 day simple moving average is $30.24 and its 200 day simple moving average is $29.29. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.95 and a quick ratio of 0.94. Mid Penn Bancorp, Inc. has a one year low of $19.20 and a one year high of $33.87. The company has a market cap of $493.45 million, a PE ratio of 10.20 and a beta of 0.57.

Mid Penn Bancorp (NASDAQ:MPB) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 EPS for the quarter, hitting the consensus estimate of $0.71. Mid Penn Bancorp had a net margin of 16.06% and a return on equity of 8.34%. On average, research analysts anticipate that Mid Penn Bancorp, Inc. will post 2.81 earnings per share for the current year.

Mid Penn Bancorp 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.