Geode Capital Management LLC Purchases 29,264 Shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Geode Capital Management LLC raised its holdings in Mid Penn Bancorp, Inc. (NASDAQ:MPB) by 8.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 379,639 shares of the financial services provider’s stock after buying an additional 29,264 shares during the quarter. Geode Capital Management LLC owned 1.96% of Mid Penn Bancorp worth $10,952,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new position in Mid Penn Bancorp during the fourth quarter worth $45,000. Emerald Advisers LLC increased its position in shares of Mid Penn Bancorp by 261.6% during the 4th quarter. Emerald Advisers LLC now owns 2,419 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 1,750 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Mid Penn Bancorp by 18.6% during the 4th quarter. SG Americas Securities LLC now owns 6,484 shares of the financial services provider’s stock worth $187,000 after purchasing an additional 1,018 shares in the last quarter. Mystic Asset Management Inc. bought a new position in Mid Penn Bancorp during the 4th quarter valued at about $210,000. Finally, Semanteon Capital Management LP acquired a new position in Mid Penn Bancorp in the fourth quarter valued at about $228,000. Institutional investors and hedge funds own 43.11% of the company’s stock.

Mid Penn Bancorp Stock Up 4.4 %

NASDAQ MPB opened at $26.28 on Wednesday. The stock’s 50 day simple moving average is $26.40 and its 200 day simple moving average is $29.03. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.95 and a quick ratio of 0.94. Mid Penn Bancorp, Inc. has a one year low of $19.75 and a one year high of $33.87. The firm has a market cap of $508.68 million, a PE ratio of 9.06 and a beta of 0.58.

Mid Penn Bancorp (NASDAQ:MPB) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 EPS for the quarter, meeting the consensus estimate of $0.71. Mid Penn Bancorp had a net margin of 15.99% and a return on equity of 8.43%. As a group, sell-side analysts forecast that Mid Penn Bancorp, Inc. will post 3 earnings per share for the current fiscal year.

Insider Transactions at Mid Penn Bancorp

In other news, CEO Rory G. Ritrievi acquired 3,365 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was acquired at an average price of $29.56 per share, for a total transaction of $99,469.40. Following the transaction, the chief executive officer now directly owns 10,750 shares in the company, valued at approximately $317,770. This represents a 45.57 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Soto Matthew G. De purchased 2,575 shares of the stock in a transaction on Tuesday, February 4th. The stock was acquired at an average price of $29.07 per share, with a total value of $74,855.25. Following the completion of the acquisition, the director now directly owns 103,162 shares of the company’s stock, valued at approximately $2,998,919.34. This represents a 2.56 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 9,010 shares of company stock worth $266,495 in the last three months. Insiders own 8.10% 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 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.