Mid Penn Bancorp, Inc. (NASDAQ:MPB) Shares Purchased by Barclays PLC

Barclays PLC boosted its position in Mid Penn Bancorp, Inc. (NASDAQ:MPB) by 61.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,805 shares of the financial services provider’s stock after purchasing an additional 13,986 shares during the period. Barclays PLC owned about 0.22% of Mid Penn Bancorp worth $1,098,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of MPB. McClarren Financial Advisors Inc. boosted its position in Mid Penn Bancorp by 5,438.1% during the third quarter. McClarren Financial Advisors Inc. now owns 1,163 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 1,142 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Mid Penn Bancorp during the 3rd quarter worth $163,000. Cornercap Investment Counsel Inc. acquired a new position in shares of Mid Penn Bancorp in the 3rd quarter valued at approximately $263,000. Thrivent Financial for Lutherans bought a new position in shares of Mid Penn Bancorp during the third quarter worth about $272,000. Finally, New Wave Wealth Advisors LLC acquired a new position in Mid Penn Bancorp in the second quarter worth $278,000. 43.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Albert J. Evans acquired 8,474 shares of the stock in a transaction on 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 purchase, the director now directly owns 34,712 shares in the company, valued at approximately $1,024,004. The trade was 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. Insiders purchased a total of 9,661 shares of company stock valued at $285,020 in the last ninety days. 10.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. StockNews.com lowered shares of Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, October 14th. Piper Sandler lifted their target price 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. Finally, Keefe, Bruyette & Woods lifted their target price 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.

Mid Penn Bancorp Price Performance

Mid Penn Bancorp stock opened at $28.91 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.94 and a current ratio of 0.95. The business’s fifty day moving average is $31.28 and its two-hundred day moving average is $28.38. Mid Penn Bancorp, Inc. has a 52 week low of $19.20 and a 52 week high of $33.87. The firm has a market cap of $480.48 million, a P/E ratio of 9.93 and a beta of 0.56.

Mid Penn Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Friday, November 8th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.77%. Mid Penn Bancorp’s dividend payout ratio is presently 27.49%.

About Mid Penn Bancorp

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.