Mid Penn Bancorp (NASDAQ:MPB) Stock Price Passes Above 200-Day Moving Average – Here’s Why
by Amy Steele · The Cerbat GemMid Penn Bancorp (NASDAQ:MPB – Get Free Report) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $32.01 and traded as high as $32.90. Mid Penn Bancorp shares last traded at $32.79, with a volume of 73,763 shares.
Analyst Ratings Changes
Separately, Weiss Ratings raised Mid Penn Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.00.
Read Our Latest Analysis on Mid Penn Bancorp
Mid Penn Bancorp Stock Performance
The stock has a market capitalization of $827.35 million, a price-to-earnings ratio of 14.84 and a beta of 0.49. The firm has a fifty day moving average of $32.70 and a 200-day moving average of $32.01.
Mid Penn Bancorp (NASDAQ:MPB – Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.16). Mid Penn Bancorp had a net margin of 13.95% and a return on equity of 8.31%. The company had revenue of $64.85 million during the quarter, compared to analyst estimates of $63.15 million.
Mid Penn Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were paid a dividend of $0.22 per share. The ex-dividend date was Monday, May 4th. This represents a $0.88 annualized dividend and a dividend yield of 2.7%. Mid Penn Bancorp’s dividend payout ratio (DPR) is currently 40.00%.
Insider Activity
In other Mid Penn Bancorp news, Director Thomas R. Brugger bought 818 shares of the stock in a transaction dated Friday, March 6th. The stock was bought at an average cost of $31.35 per share, for a total transaction of $25,644.30. Following the completion of the purchase, the director directly owned 6,110 shares of the company’s stock, valued at approximately $191,548.50. The trade was a 15.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Soto Matthew G. De bought 1,525 shares of the stock in a transaction dated Monday, May 4th. The shares were acquired at an average price of $32.75 per share, with a total value of $49,943.75. Following the completion of the purchase, the director directly owned 118,696 shares of the company’s stock, valued at approximately $3,887,294. This represents a 1.30% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 4,933 shares of company stock valued at $155,522 over the last 90 days. Insiders own 7.20% of the company’s stock.
Institutional Trading of Mid Penn Bancorp
Several large investors have recently modified their holdings of MPB. Legal & General Group Plc grew its stake in shares of Mid Penn Bancorp by 35.6% during the second quarter. Legal & General Group Plc now owns 1,877 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 493 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Mid Penn Bancorp by 416.9% during the second quarter. Tower Research Capital LLC TRC now owns 3,303 shares of the financial services provider’s stock valued at $93,000 after acquiring an additional 2,664 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Mid Penn Bancorp during the third quarter valued at about $121,000. US Bancorp DE grew its stake in shares of Mid Penn Bancorp by 4,471.3% during the third quarter. US Bancorp DE now owns 4,937 shares of the financial services provider’s stock valued at $141,000 after acquiring an additional 4,829 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of Mid Penn Bancorp by 6.9% during the second quarter. Lazard Asset Management LLC now owns 5,576 shares of the financial services provider’s stock worth $156,000 after purchasing an additional 358 shares during the last quarter. 43.11% of the stock is currently owned by institutional investors and hedge funds.
Mid Penn Bancorp Company Profile
Mid Penn Bancorp, Inc is a bank holding company headquartered in Hummelstown, Pennsylvania, serving as the parent of Mid Penn Bank. As a full-service financial institution, Mid Penn Bank operates a network of branches across central Pennsylvania, delivering retail and commercial banking services to individuals, families and businesses in its regional markets.
Through its banking subsidiary, the company offers a broad range of deposit products, including checking accounts, savings accounts and certificates of deposit, alongside consumer and commercial lending solutions.