American Century Companies Inc. Boosts Holdings in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

American Century Companies Inc. raised its holdings in Mid Penn Bancorp, Inc. (NASDAQ:MPB) by 8.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 144,397 shares of the financial services provider’s stock after purchasing an additional 11,731 shares during the period. American Century Companies Inc. owned 0.87% of Mid Penn Bancorp worth $3,170,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. BNP Paribas Financial Markets raised its position in shares of Mid Penn Bancorp by 138.5% during the 4th quarter. BNP Paribas Financial Markets now owns 14,713 shares of the financial services provider’s stock worth $357,000 after purchasing an additional 8,545 shares during the last quarter. Rhumbline Advisers increased its position in Mid Penn Bancorp by 4.1% during the second quarter. Rhumbline Advisers now owns 22,344 shares of the financial services provider’s stock worth $490,000 after buying an additional 877 shares in the last quarter. BHZ Capital Management LP raised its holdings in shares of 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 acquiring an additional 8,307 shares during the last quarter. Empowered Funds LLC lifted its position in shares of 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 valued at $626,000 after acquiring an additional 2,275 shares in the last quarter. Finally, ClariVest Asset Management LLC lifted its position in shares of Mid Penn Bancorp by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 38,366 shares of the financial services provider’s stock valued at $842,000 after acquiring an additional 1,072 shares in the last quarter. 43.11% of the stock is currently owned by institutional investors and hedge funds.

Mid Penn Bancorp Price Performance

MPB stock opened at $29.41 on Friday. The stock has a market capitalization of $490.82 million, a price-to-earnings ratio of 12.73 and a beta of 0.58. 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, Inc. has a 52-week low of $18.63 and a 52-week high of $30.91. The stock’s fifty day simple moving average is $28.27 and its 200-day simple moving average is $23.53.

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

Mid Penn Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were issued a $0.20 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.80 dividend on an annualized basis and a yield of 2.72%. Mid Penn Bancorp’s payout ratio is 34.63%.

Analyst Ratings Changes

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

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.