9,418 Shares in Mid Penn Bancorp, Inc. (NASDAQ:MPB) Bought by Franklin Resources Inc.

Franklin Resources Inc. acquired a new position in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 9,418 shares of the financial services provider’s stock, valued at approximately $285,000.

A number of other hedge funds have also bought and sold shares of MPB. Bank of New York Mellon Corp boosted its position in shares of Mid Penn Bancorp by 7.6% during the second quarter. Bank of New York Mellon Corp now owns 72,676 shares of the financial services provider’s stock valued at $1,595,000 after buying an additional 5,153 shares during the period. Rhumbline Advisers lifted its stake in shares of Mid Penn Bancorp by 4.1% during the 2nd quarter. Rhumbline Advisers now owns 22,344 shares of the financial services provider’s stock worth $490,000 after acquiring an additional 877 shares during the last quarter. LSV Asset Management boosted its holdings in 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 valued at $3,425,000 after acquiring an additional 27,098 shares during the period. ClariVest Asset Management LLC grew its position in Mid Penn Bancorp by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 38,366 shares of the financial services provider’s stock valued at $842,000 after acquiring an additional 1,072 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Mid Penn Bancorp by 8.8% in the second quarter. American Century Companies Inc. now owns 144,397 shares of the financial services provider’s stock worth $3,170,000 after purchasing an additional 11,731 shares during the period. Institutional investors own 43.11% of the company’s stock.

Mid Penn Bancorp Price Performance

MPB opened at $28.84 on Thursday. Mid Penn Bancorp, Inc. has a 12-month low of $19.20 and a 12-month high of $33.87. The business’s fifty day simple moving average is $31.17 and its 200-day simple moving average is $28.51. The company has a market capitalization of $479.32 million, a price-to-earnings ratio of 9.91 and a beta of 0.56. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12.

Mid Penn Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Friday, November 8th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.77%. Mid Penn Bancorp’s dividend payout ratio is currently 27.49%.

Wall Street Analysts Forecast Growth

MPB has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their target price 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 cut shares of Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, October 14th. Finally, Piper Sandler raised their target price on shares of Mid Penn Bancorp from $31.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th.

Insider Buying and Selling at Mid Penn Bancorp

In other Mid Penn Bancorp news, Director Albert J. Evans acquired 8,474 shares of the stock in a transaction dated Friday, November 1st. The stock was purchased at an average price of $29.50 per share, with a total value of $249,983.00. Following the transaction, the director now directly owns 34,712 shares of the company’s stock, valued at $1,024,004. This trade represents a 32.30 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have purchased 9,661 shares of company stock valued at $285,020. 10.70% of the stock is currently owned by corporate insiders.

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.