Key Points
- Director Thomas Brugger bought 818 shares of Mid Penn Bancorp on March 6 at $31.35 each for $25,644.30, increasing his holdings to 6,110 shares (a 15.46% rise in his position).
- Mid Penn Bancorp reported $0.83 EPS (beating estimates by $0.03), has a market cap of $726.77M and a PE of 12.36, recently paid a $0.05 special dividend, and carries an average analyst price target of $37 with an overall Buy consensus.
Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) Director Thomas Brugger bought 818 shares of Mid Penn Bancorp stock in a transaction on Friday, March 6th. The stock was acquired at an average cost of $31.35 per share, with a total value of $25,644.30. Following the acquisition, the director owned 6,110 shares of the company's stock, valued at $191,548.50. This trade represents a 15.46% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Mid Penn Bancorp Stock Performance
NASDAQ:MPB opened at $31.53 on Tuesday. The firm's fifty day simple moving average is $32.62 and its 200-day simple moving average is $30.73. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.08. The stock has a market cap of $726.77 million, a PE ratio of 12.36 and a beta of 0.55. Mid Penn Bancorp has a fifty-two week low of $22.50 and a fifty-two week high of $35.22.
Mid Penn Bancorp (NASDAQ:MPB - Get Free Report) last announced its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.80 by $0.03. The firm had revenue of $61.52 million during the quarter, compared to analysts' expectations of $62.65 million. Mid Penn Bancorp had a net margin of 16.04% and a return on equity of 8.84%. Analysts expect that Mid Penn Bancorp will post 3 earnings per share for the current fiscal year.
Mid Penn Bancorp Announces Dividend
The business also recently announced a special dividend, which was paid on Tuesday, February 17th. Shareholders of record on Friday, February 6th were issued a $0.05 dividend. The ex-dividend date of this dividend was Friday, February 6th. This represents a yield of 254.0%. Mid Penn Bancorp's dividend payout ratio (DPR) is 34.51%.
Institutional Investors Weigh In On Mid Penn Bancorp
A number of large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its position in Mid Penn Bancorp by 2.2% during the fourth quarter. Wellington Management Group LLP now owns 2,274,513 shares of the financial services provider's stock worth $70,555,000 after acquiring an additional 50,000 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Mid Penn Bancorp by 102.2% in the third quarter. Alliancebernstein L.P. now owns 802,098 shares of the financial services provider's stock valued at $22,972,000 after purchasing an additional 405,316 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Mid Penn Bancorp by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 668,627 shares of the financial services provider's stock valued at $20,741,000 after purchasing an additional 34,890 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Mid Penn Bancorp by 21.4% in the second quarter. Geode Capital Management LLC now owns 501,446 shares of the financial services provider's stock valued at $14,144,000 after purchasing an additional 88,398 shares during the last quarter. Finally, Fourthstone LLC increased its stake in shares of Mid Penn Bancorp by 32.7% during the 4th quarter. Fourthstone LLC now owns 291,396 shares of the financial services provider's stock worth $9,039,000 after purchasing an additional 71,827 shares in the last quarter. 43.11% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the company. Weiss Ratings raised Mid Penn Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, February 23rd. Wall Street Zen downgraded Mid Penn Bancorp from a "buy" rating to a "hold" rating in a research note on Saturday, January 24th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Mid Penn Bancorp has an average rating of "Buy" and an average price target of $37.00.
View Our Latest Analysis on Mid Penn Bancorp
About Mid Penn Bancorp
(
Get Free Report)
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.
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