Mid Penn Bancorp, Inc. (NASDAQ:MPB) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets lowered its position in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) by 44.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 12,128 shares of the financial services provider’s stock after selling 9,826 shares during the quarter. BNP Paribas Financial Markets owned about 0.07% of Mid Penn Bancorp worth $362,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of MPB. Segall Bryant & Hamill LLC acquired a new position in shares of Mid Penn Bancorp in the 3rd quarter valued at about $1,626,000. Dimensional Fund Advisors LP increased its stake in shares of Mid Penn Bancorp by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 418,963 shares of the financial services provider’s stock valued at $9,195,000 after purchasing an additional 31,292 shares in the last quarter. LSV Asset Management increased its stake in shares of Mid Penn Bancorp by 21.0% in the 2nd quarter. LSV Asset Management now owns 156,059 shares of the financial services provider’s stock valued at $3,425,000 after purchasing an additional 27,098 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Mid Penn Bancorp in the 3rd quarter valued at about $542,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Mid Penn Bancorp in the 2nd quarter valued at about $282,000. Institutional investors and hedge funds own 43.11% of the company’s stock.

Mid Penn Bancorp Price Performance

NASDAQ:MPB opened at $30.83 on Friday. Mid Penn Bancorp, Inc. has a 12 month low of $19.20 and a 12 month high of $33.87. The stock has a 50 day moving average of $31.40 and a two-hundred day moving average of $27.72. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12. The firm has a market cap of $512.39 million, a P/E ratio of 10.59 and a beta of 0.56.

Mid Penn Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Friday, November 8th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, November 8th. This represents a $0.80 annualized dividend and a yield of 2.59%. Mid Penn Bancorp’s dividend payout ratio (DPR) is currently 27.49%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MPB shares. StockNews.com lowered Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, October 14th. Keefe, Bruyette & Woods lifted their price target on 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, Piper Sandler lifted their price target on Mid Penn Bancorp from $31.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, October 28th.

Insiders Place Their Bets

In other news, Director Albert J. Evans acquired 8,474 shares of the business’s stock in a transaction on Friday, November 1st. The stock was bought at an average cost of $29.50 per share, for a total transaction of $249,983.00. Following the purchase, the director now owns 34,712 shares in the company, valued at approximately $1,024,004. This represents a 32.30 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders bought 9,678 shares of company stock worth $285,527. Corporate insiders own 10.70% of the company’s stock.

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.