Wells Fargo & Company MN Grows Stock Holdings in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Wells Fargo & Company MN lifted its position in Mid Penn Bancorp, Inc. (NASDAQ:MPB) by 19.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,916 shares of the financial services provider’s stock after buying an additional 1,914 shares during the period. Wells Fargo & Company MN owned approximately 0.06% of Mid Penn Bancorp worth $344,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MPB. Stonebridge Financial Group LLC purchased a new position in Mid Penn Bancorp in the fourth quarter worth $45,000. Emerald Advisers LLC boosted its position in shares of Mid Penn Bancorp by 261.6% in 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 grew its stake in 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 buying an additional 1,018 shares during the last quarter. Mystic Asset Management Inc. acquired a new position in Mid Penn Bancorp during the 4th quarter valued at about $210,000. Finally, Semanteon Capital Management LP purchased a new stake in Mid Penn Bancorp in the fourth quarter valued at about $228,000. Institutional investors own 43.11% of the company’s stock.

Mid Penn Bancorp Price Performance

Shares of NASDAQ MPB opened at $29.01 on Tuesday. Mid Penn Bancorp, Inc. has a fifty-two week low of $20.03 and a fifty-two week high of $33.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.94 and a current ratio of 0.95. The company has a market cap of $561.52 million, a PE ratio of 10.00 and a beta of 0.58. The business has a 50-day simple moving average of $26.31 and a two-hundred day simple moving average of $28.91.

Mid Penn Bancorp (NASDAQ:MPB) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.72 EPS for the quarter, topping the consensus estimate of $0.62 by $0.10. The business had revenue of $47.75 million during the quarter, compared to the consensus estimate of $47.20 million. Mid Penn Bancorp had a net margin of 15.99% and a return on equity of 8.43%. As a group, equities analysts expect that Mid Penn Bancorp, Inc. will post 3 EPS for the current fiscal year.

Mid Penn Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 26th. Shareholders of record on Thursday, May 8th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $0.80 annualized dividend and a yield of 2.76%. Mid Penn Bancorp’s payout ratio is presently 27.78%.

Insider Activity

In related news, Director John E. Noone acquired 1,000 shares of Mid Penn Bancorp stock in a transaction on Monday, April 28th. The stock was acquired at an average price of $28.18 per share, for a total transaction of $28,180.00. Following the purchase, the director now owns 41,400 shares of the company’s stock, valued at approximately $1,166,652. This represents a 2.48 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Rory G. Ritrievi bought 3,365 shares of the stock in a transaction dated Friday, February 14th. The stock was bought at an average price of $29.56 per share, for a total transaction of $99,469.40. Following the purchase, the chief executive officer now directly owns 10,750 shares of the company’s stock, valued at approximately $317,770. The trade was a 45.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 4,385 shares of company stock valued at $128,168. Company insiders own 8.10% of the company’s stock.

About Mid Penn Bancorp

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.