Charles Schwab Investment Management Inc. Raises Stock Position in Mid Penn Bancorp $MPB

Charles Schwab Investment Management Inc. grew its holdings in shares of Mid Penn Bancorp (NASDAQ:MPB) by 11.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,991 shares of the financial services provider’s stock after buying an additional 5,636 shares during the period. Charles Schwab Investment Management Inc. owned 0.27% of Mid Penn Bancorp worth $1,373,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of MPB. Citadel Advisors LLC bought a new position in Mid Penn Bancorp in the 4th quarter worth about $864,000. Squarepoint Ops LLC purchased a new stake in shares of Mid Penn Bancorp during the 4th quarter valued at about $499,000. Ameriprise Financial Inc. purchased a new stake in shares of Mid Penn Bancorp during the 4th quarter valued at about $395,000. GAMMA Investing LLC increased its holdings in Mid Penn Bancorp by 5,634.0% in the 1st quarter. GAMMA Investing LLC now owns 2,695 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 2,648 shares in the last quarter. Finally, Two Sigma Investments LP increased its holdings in Mid Penn Bancorp by 74.8% in the 4th quarter. Two Sigma Investments LP now owns 58,801 shares of the financial services provider’s stock worth $1,696,000 after acquiring an additional 25,170 shares in the last quarter. Institutional investors own 43.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods dropped their price target on Mid Penn Bancorp from $35.00 to $34.00 and set an “outperform” rating for the company in a research note on Monday, August 4th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $34.50.

Mid Penn Bancorp Stock Down 0.0%

NASDAQ:MPB opened at $30.14 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.08. The stock has a fifty day simple moving average of $28.58 and a 200-day simple moving average of $27.50. The company has a market cap of $693.22 million, a price-to-earnings ratio of 12.61 and a beta of 0.65. Mid Penn Bancorp has a twelve month low of $22.50 and a twelve month high of $33.87.

Mid Penn Bancorp (NASDAQ:MPB) last released its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. The firm had revenue of $54.35 million during the quarter, compared to the consensus estimate of $54.20 million. Mid Penn Bancorp had a return on equity of 8.13% and a net margin of 13.69%. Analysts anticipate that Mid Penn Bancorp will post 3 EPS for the current year.

Mid Penn Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Friday, August 8th were issued a $0.20 dividend. The ex-dividend date was Friday, August 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.7%. Mid Penn Bancorp’s payout ratio is currently 33.47%.

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.