Mid Penn Bancorp (NASDAQ:MPB) Share Price Passes Below 200-Day Moving Average of $21.30

Mid Penn Bancorp, Inc. (NASDAQ:MPB)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $21.30 and traded as low as $20.30. Mid Penn Bancorp shares last traded at $20.41, with a volume of 49,206 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. TheStreet downgraded Mid Penn Bancorp from a “b” rating to a “c+” rating in a research report on Tuesday, February 13th. Piper Sandler reduced their target price on Mid Penn Bancorp from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, February 1st.

Mid Penn Bancorp Stock Performance

The stock has a 50-day moving average of $20.27 and a 200 day moving average of $21.30. The stock has a market cap of $338.19 million, a PE ratio of 8.95 and a beta of 0.57. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.19.

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

Mid Penn Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Friday, February 9th were issued a $0.20 dividend. The ex-dividend date was Thursday, February 8th. This represents a $0.80 annualized dividend and a yield of 3.92%. Mid Penn Bancorp’s dividend payout ratio (DPR) is currently 35.09%.

Insider Buying and Selling at Mid Penn Bancorp

In other news, Director Soto Matthew G. De purchased 1,185 shares of the stock in a transaction dated Thursday, February 1st. The stock was acquired at an average cost of $21.13 per share, for a total transaction of $25,039.05. Following the completion of the transaction, the director now directly owns 67,863 shares in the company, valued at approximately $1,433,945.19. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other Mid Penn Bancorp news, Director Theodore W. Mowery purchased 2,000 shares of the company’s stock in a transaction on Friday, March 15th. The stock was acquired at an average price of $20.42 per share, for a total transaction of $40,840.00. Following the completion of the purchase, the director now directly owns 31,540 shares in the company, valued at approximately $644,046.80. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Soto Matthew G. De acquired 1,185 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were bought at an average cost of $21.13 per share, for a total transaction of $25,039.05. Following the transaction, the director now directly owns 67,863 shares of the company’s stock, valued at approximately $1,433,945.19. The disclosure for this purchase can be found here. Insiders have purchased 4,994 shares of company stock valued at $103,875 over the last 90 days. 9.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC lifted its position in shares of Mid Penn Bancorp by 15.0% during the 4th quarter. SG Americas Securities LLC now owns 8,052 shares of the financial services provider’s stock worth $196,000 after purchasing an additional 1,050 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Mid Penn Bancorp by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 92,565 shares of the financial services provider’s stock worth $1,863,000 after acquiring an additional 1,176 shares in the last quarter. LSV Asset Management increased its holdings in shares of Mid Penn Bancorp by 1.3% in the 4th quarter. LSV Asset Management now owns 116,078 shares of the financial services provider’s stock valued at $2,818,000 after acquiring an additional 1,500 shares during the last quarter. Endeavour Capital Advisors Inc. raised its position in shares of Mid Penn Bancorp by 2.0% during the 3rd quarter. Endeavour Capital Advisors Inc. now owns 110,187 shares of the financial services provider’s stock worth $2,218,000 after acquiring an additional 2,136 shares in the last quarter. Finally, Wharton Business Group LLC lifted its stake in Mid Penn Bancorp by 3.1% during the third quarter. Wharton Business Group LLC now owns 78,331 shares of the financial services provider’s stock worth $1,577,000 after purchasing an additional 2,355 shares during the last quarter. 43.11% of the stock is owned by institutional investors and hedge funds.

Mid Penn Bancorp Company Profile

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.