Empowered Funds LLC Acquires 1,713 Shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Empowered Funds LLC grew its holdings in Mid Penn Bancorp, Inc. (NASDAQ:MPB) by 4.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,063 shares of the financial services provider’s stock after purchasing an additional 1,713 shares during the period. Empowered Funds LLC owned approximately 0.22% of Mid Penn Bancorp worth $1,069,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. McClarren Financial Advisors Inc. grew its holdings in 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 valued at $34,000 after buying an additional 1,142 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Mid Penn Bancorp in the third quarter valued at approximately $163,000. Cornercap Investment Counsel Inc. purchased a new position in Mid Penn Bancorp during the third quarter valued at approximately $263,000. Thrivent Financial for Lutherans bought a new stake in Mid Penn Bancorp during the 3rd quarter worth approximately $272,000. Finally, Franklin Resources Inc. purchased a new stake in Mid Penn Bancorp in the 3rd quarter worth approximately $285,000. 43.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MPB. Keefe, Bruyette & Woods boosted 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 report on Tuesday, October 29th. Piper Sandler boosted their target price 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.

Insider Activity

In other Mid Penn Bancorp news, Director Soto Matthew G. De purchased 2,575 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was acquired at an average cost of $29.07 per share, for a total transaction of $74,855.25. Following the completion of the transaction, the director now directly owns 103,162 shares in the company, valued at approximately $2,998,919.34. This represents a 2.56 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Rory G. Ritrievi acquired 3,050 shares of Mid Penn Bancorp stock in a transaction dated Monday, January 27th. The shares were bought at an average cost of $30.05 per share, for a total transaction of $91,652.50. Following the completion of the purchase, the chief executive officer now directly owns 7,385 shares of the company’s stock, valued at approximately $221,919.25. The trade was a 70.36 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 9,016 shares of company stock worth $266,754. 10.70% of the stock is currently owned by insiders.

Mid Penn Bancorp Price Performance

MPB stock opened at $29.58 on Tuesday. The firm has a 50 day simple moving average of $29.52 and a two-hundred day simple moving average of $29.82. The stock has a market cap of $572.67 million, a PE ratio of 10.20 and a beta of 0.56. Mid Penn Bancorp, Inc. has a one year low of $19.20 and a one year high of $33.87. 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 (NASDAQ:MPB) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.71. Mid Penn Bancorp had a net margin of 15.99% and a return on equity of 8.43%. On average, analysts predict that Mid Penn Bancorp, Inc. will post 3 EPS for the current fiscal year.

Mid Penn Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, February 7th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $0.80 annualized dividend and a dividend yield of 2.70%. Mid Penn Bancorp’s dividend payout ratio (DPR) is presently 27.59%.

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.