Mid Penn Bancorp $MPB Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its holdings in Mid Penn Bancorp (NASDAQ:MPB) by 22.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 70,038 shares of the financial services provider’s stock after purchasing an additional 12,999 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.36% of Mid Penn Bancorp worth $1,975,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its stake in shares of Mid Penn Bancorp by 3.8% during the 1st quarter. Wellington Management Group LLP now owns 1,507,231 shares of the financial services provider’s stock valued at $39,052,000 after acquiring an additional 55,054 shares during the last quarter. Emerald Mutual Fund Advisers Trust grew its holdings in Mid Penn Bancorp by 0.8% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 157,538 shares of the financial services provider’s stock valued at $4,443,000 after purchasing an additional 1,200 shares during the period. Hotchkis & Wiley Capital Management LLC increased its position in Mid Penn Bancorp by 7.7% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 113,340 shares of the financial services provider’s stock worth $2,937,000 after purchasing an additional 8,110 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Mid Penn Bancorp by 5.0% during the first quarter. Bank of New York Mellon Corp now owns 78,372 shares of the financial services provider’s stock worth $2,031,000 after purchasing an additional 3,703 shares during the period. Finally, Empowered Funds LLC boosted its holdings in shares of Mid Penn Bancorp by 55.2% in the 1st quarter. Empowered Funds LLC now owns 57,505 shares of the financial services provider’s stock valued at $1,490,000 after purchasing an additional 20,442 shares during the last quarter. 43.11% of the stock is currently owned by hedge funds and other institutional investors.

Mid Penn Bancorp Stock Performance

Mid Penn Bancorp stock opened at $29.35 on Monday. The firm has a market capitalization of $676.46 million, a PE ratio of 12.03 and a beta of 0.65. Mid Penn Bancorp has a one year low of $22.50 and a one year high of $33.87. The stock’s 50 day moving average price is $29.10 and its 200 day moving average price is $28.51. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.94 and a current ratio of 0.95.

Mid Penn Bancorp (NASDAQ:MPB) last posted its quarterly earnings data on Tuesday, September 20th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter. The company had revenue of $32.43 million for the quarter. Mid Penn Bancorp had a net margin of 14.82% and a return on equity of 8.54%. As a group, sell-side analysts expect that Mid Penn Bancorp will post 3 EPS for the current fiscal year.

Mid Penn Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 24th. Stockholders of record on Monday, November 10th will be paid a dividend of $0.22 per share. This is a boost from Mid Penn Bancorp’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Monday, November 10th. Mid Penn Bancorp’s payout ratio is 36.07%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MPB shares. Wall Street Zen raised Mid Penn Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday. Keefe, Bruyette & Woods raised their price objective on Mid Penn Bancorp from $34.00 to $37.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Mid Penn Bancorp in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Mid Penn Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Mid Penn Bancorp 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.