Mid Penn Bancorp, Inc. (NASDAQ:MPB) Short Interest Down 6.1% in October

Mid Penn Bancorp, Inc. (NASDAQ:MPB) was the target of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 66,400 shares, a decline of 6.1% from the October 15th total of 70,700 shares. Based on an average daily trading volume, of 27,000 shares, the days-to-cover ratio is currently 2.5 days.

Mid Penn Bancorp Trading Down 1.1 %

Shares of Mid Penn Bancorp stock opened at $21.01 on Friday. The firm has a market capitalization of $350.22 million, a PE ratio of 8.27 and a beta of 0.58. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.93 and a quick ratio of 0.93. The company’s fifty day moving average price is $20.13 and its two-hundred day moving average price is $21.72. Mid Penn Bancorp has a 52-week low of $18.25 and a 52-week high of $34.54.

Mid Penn Bancorp (NASDAQ:MPB) last announced its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.10). Mid Penn Bancorp had a net margin of 17.19% and a return on equity of 9.25%. The business had revenue of $42.83 million during the quarter, compared to the consensus estimate of $41.62 million. On average, analysts expect that Mid Penn Bancorp will post 2.57 EPS for the current year.

Mid Penn Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 27th. Stockholders of record on Friday, November 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Thursday, November 9th. Mid Penn Bancorp’s payout ratio is 31.50%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MPB shares. TheStreet lowered shares of Mid Penn Bancorp from a “b-” rating to a “c+” rating in a research report on Wednesday, November 1st. StockNews.com initiated coverage on shares of Mid Penn Bancorp in a report on Thursday, October 5th. They issued a “hold” rating on the stock.

Insider Transactions at Mid Penn Bancorp

In other news, Director Soto Matthew G. De acquired 2,510 shares of Mid Penn Bancorp stock in a transaction dated Friday, November 3rd. The stock was acquired at an average cost of $20.17 per share, for a total transaction of $50,626.70. Following the completion of the purchase, the director now owns 65,115 shares of the company’s stock, valued at $1,313,369.55. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders bought 3,758 shares of company stock worth $74,619. 10.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Mid Penn Bancorp

Several large investors have recently made changes to their positions in MPB. Millennium Management LLC bought a new stake in shares of Mid Penn Bancorp in the 4th quarter worth about $2,415,000. State Street Corp grew its holdings in shares of Mid Penn Bancorp by 21.7% in the 1st quarter. State Street Corp now owns 291,571 shares of the financial services provider’s stock worth $7,467,000 after purchasing an additional 51,930 shares during the last quarter. Two Sigma Investments LP bought a new stake in shares of Mid Penn Bancorp in the 4th quarter worth about $1,378,000. First Trust Advisors LP grew its holdings in shares of Mid Penn Bancorp by 351.2% in the 1st quarter. First Trust Advisors LP now owns 58,491 shares of the financial services provider’s stock worth $1,498,000 after purchasing an additional 45,528 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Mid Penn Bancorp by 250.7% in the 4th quarter. JPMorgan Chase & Co. now owns 62,482 shares of the financial services provider’s stock worth $1,872,000 after purchasing an additional 44,665 shares during the last quarter. Institutional investors own 42.21% of the company’s stock.

About Mid Penn Bancorp

Mid Penn Bancorp, Inc operates as the bank holding company for Mid Penn Bank that engages in the provision of 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.