Mid Penn Bancorp, Inc. (NASDAQ:MPB) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC boosted its position in Mid Penn Bancorp, Inc. (NASDAQ:MPB) by 5.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,350 shares of the financial services provider’s stock after purchasing an additional 1,742 shares during the period. Empowered Funds LLC owned about 0.21% of Mid Penn Bancorp worth $1,054,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in MPB. Vanguard Group Inc. raised its stake in shares of Mid Penn Bancorp by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 688,363 shares of the financial services provider’s stock worth $13,774,000 after buying an additional 12,314 shares in the last quarter. Kennedy Capital Management LLC grew its holdings in Mid Penn Bancorp by 126.4% during the first quarter. Kennedy Capital Management LLC now owns 96,086 shares of the financial services provider’s stock worth $1,923,000 after acquiring an additional 53,650 shares during the period. Bank of New York Mellon Corp raised its position in Mid Penn Bancorp by 7.6% in the second quarter. Bank of New York Mellon Corp now owns 72,676 shares of the financial services provider’s stock worth $1,595,000 after acquiring an additional 5,153 shares in the last quarter. Rhumbline Advisers lifted its holdings in Mid Penn Bancorp by 4.1% in the second quarter. Rhumbline Advisers now owns 22,344 shares of the financial services provider’s stock valued at $490,000 after acquiring an additional 877 shares during the period. Finally, LSV Asset Management boosted its position in shares of Mid Penn Bancorp by 21.0% during the 2nd quarter. LSV Asset Management now owns 156,059 shares of the financial services provider’s stock worth $3,425,000 after purchasing an additional 27,098 shares in the last quarter. Institutional investors and hedge funds own 43.11% of the company’s stock.

Insider Activity at Mid Penn Bancorp

In other news, Director Albert J. Evans bought 8,474 shares of the stock in a transaction on Friday, November 1st. The stock was purchased at an average cost of $29.50 per share, with a total value of $249,983.00. Following the purchase, the director now owns 34,712 shares of the company’s stock, valued at approximately $1,024,004. The trade was a 32.30 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. In the last quarter, insiders bought 9,669 shares of company stock valued at $285,241. 10.70% of the stock is owned by insiders.

Mid Penn Bancorp Stock Up 2.5 %

Shares of NASDAQ MPB opened at $32.43 on Friday. The firm’s 50-day moving average is $30.77 and its two-hundred day moving average is $26.63. The company has a market capitalization of $538.99 million, a PE ratio of 11.14 and a beta of 0.57. Mid Penn Bancorp, Inc. has a 12-month low of $19.20 and a 12-month high of $33.23. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Friday, November 8th. Mid Penn Bancorp’s dividend payout ratio is presently 27.49%.

Wall Street Analyst Weigh In

Several brokerages recently commented on MPB. Keefe, Bruyette & Woods raised their price objective on shares of Mid Penn Bancorp from $34.00 to $37.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. StockNews.com downgraded shares of Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, October 14th. Finally, Piper Sandler upped their price target on Mid Penn Bancorp from $31.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, October 28th.

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.