Dimensional Fund Advisors LP Boosts Stock Holdings in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Dimensional Fund Advisors LP raised its holdings in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) by 8.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 418,963 shares of the financial services provider’s stock after purchasing an additional 31,292 shares during the period. Dimensional Fund Advisors LP owned 2.51% of Mid Penn Bancorp worth $9,195,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MPB. Rhumbline Advisers grew its position in shares of Mid Penn Bancorp by 4.1% in the 2nd quarter. Rhumbline Advisers now owns 22,344 shares of the financial services provider’s stock worth $490,000 after buying an additional 877 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of Mid Penn Bancorp by 53.2% in the 1st quarter. BNP Paribas Financial Markets now owns 22,545 shares of the financial services provider’s stock worth $451,000 after buying an additional 7,832 shares during the last quarter. BHZ Capital Management LP grew its position in shares of Mid Penn Bancorp by 53.8% in the 4th quarter. BHZ Capital Management LP now owns 23,739 shares of the financial services provider’s stock worth $576,000 after buying an additional 8,307 shares during the last quarter. Empowered Funds LLC grew its position in shares of Mid Penn Bancorp by 7.8% in the 1st quarter. Empowered Funds LLC now owns 31,268 shares of the financial services provider’s stock worth $626,000 after buying an additional 2,275 shares during the last quarter. Finally, ClariVest Asset Management LLC grew its position 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 worth $842,000 after buying an additional 1,072 shares during the last quarter. Hedge funds and other institutional investors own 43.11% of the company’s stock.

Mid Penn Bancorp Stock Performance

Shares of NASDAQ MPB opened at $29.19 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.12. Mid Penn Bancorp, Inc. has a 12 month low of $18.63 and a 12 month high of $30.91. The company has a 50 day simple moving average of $28.63 and a two-hundred day simple moving average of $23.99. The stock has a market cap of $487.15 million, a price-to-earnings ratio of 12.64 and a beta of 0.58.

Mid Penn Bancorp (NASDAQ:MPB) last announced its quarterly earnings data 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 net margin of 15.57% and a return on equity of 7.99%. The business had revenue of $44.10 million during the quarter, compared to analysts’ expectations of $41.63 million. As a group, analysts predict that Mid Penn Bancorp, Inc. will post 2.81 earnings per share for the current year.

Mid Penn Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend was Friday, August 9th. Mid Penn Bancorp’s payout ratio is 34.63%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MPB. StockNews.com raised shares of Mid Penn Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Piper Sandler boosted their target price on shares of Mid Penn Bancorp from $25.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, July 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.