Mid Penn Bancorp, Inc. (NASDAQ:MPB) Sees Significant Decrease in Short Interest

Mid Penn Bancorp, Inc. (NASDAQ:MPB) was the recipient of a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 34,400 shares, a decrease of 48.2% from the March 15th total of 66,400 shares. Based on an average daily volume of 23,500 shares, the days-to-cover ratio is presently 1.5 days.

Mid Penn Bancorp Stock Down 0.5 %

MPB opened at $19.79 on Thursday. The firm’s 50-day simple moving average is $20.47 and its 200-day simple moving average is $21.31. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 0.94. Mid Penn Bancorp has a twelve month low of $18.25 and a twelve month high of $25.92. The firm has a market cap of $327.92 million, a price-to-earnings ratio of 8.68 and a beta of 0.57.

Mid Penn Bancorp (NASDAQ:MPB) last issued its quarterly earnings data on Friday, January 26th. The financial services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.14. Mid Penn Bancorp had a net margin of 14.59% and a return on equity of 8.37%. The firm had revenue of $42.12 million for the quarter, compared to analyst estimates of $42.03 million. Equities research analysts anticipate that Mid Penn Bancorp will post 2.66 EPS for the current fiscal year.

Mid Penn Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Friday, February 9th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend was Thursday, February 8th. Mid Penn Bancorp’s dividend payout ratio is currently 35.09%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. TheStreet lowered shares of Mid Penn Bancorp from a “b” rating to a “c+” rating in a report on Tuesday, February 13th. Piper Sandler lowered their target price on shares of Mid Penn Bancorp from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st.

Insider Activity at Mid Penn Bancorp

In other Mid Penn Bancorp news, Director Soto Matthew G. De purchased 1,185 shares of the stock in a transaction on Thursday, February 1st. The shares were purchased at an average price of $21.13 per share, with a total value of $25,039.05. Following the acquisition, the director now directly owns 67,863 shares of the company’s stock, valued at approximately $1,433,945.19. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Mid Penn Bancorp news, Director Soto Matthew G. De purchased 1,185 shares of the stock in a transaction on Thursday, February 1st. The shares were purchased at an average price of $21.13 per share, with a total value of $25,039.05. Following the acquisition, the director now directly owns 67,863 shares of the company’s stock, valued at approximately $1,433,945.19. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Theodore W. Mowery purchased 2,000 shares of the stock in a transaction on Friday, March 15th. The stock was acquired at an average cost of $20.42 per share, for a total transaction of $40,840.00. Following the acquisition, the director now directly owns 31,540 shares in the company, valued at $644,046.80. The disclosure for this purchase can be found here. Insiders purchased a total of 4,994 shares of company stock worth $103,875 in the last ninety days. 9.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mid Penn Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. Vestcor Inc bought a new stake in Mid Penn Bancorp during the 4th quarter worth about $70,000. UBS Group AG lifted its position in Mid Penn Bancorp by 579.9% during the 3rd quarter. UBS Group AG now owns 3,481 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 2,969 shares during the period. BNP Paribas Arbitrage SA lifted its position in Mid Penn Bancorp by 51.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,500 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 1,190 shares during the period. Tower Research Capital LLC TRC lifted its position in Mid Penn Bancorp by 524.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,759 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 3,157 shares during the period. Finally, BNP Paribas Arbitrage SNC lifted its position in Mid Penn Bancorp by 29.7% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 4,539 shares of the financial services provider’s stock valued at $130,000 after purchasing an additional 1,039 shares during the period. Institutional investors own 43.11% of the company’s stock.

Mid Penn Bancorp Company Profile

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.