Jane Street Group LLC Buys 9,324 Shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Jane Street Group LLC raised its position in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) by 72.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,145 shares of the financial services provider’s stock after purchasing an additional 9,324 shares during the period. Jane Street Group LLC’s holdings in Mid Penn Bancorp were worth $661,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Bank of New York Mellon Corp raised its position in shares of 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 valued at $1,595,000 after purchasing an additional 5,153 shares during the period. Rhumbline Advisers raised its holdings in Mid Penn Bancorp by 4.1% during the 2nd 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. LSV Asset Management lifted its position in shares of Mid Penn Bancorp by 21.0% during the second quarter. LSV Asset Management now owns 156,059 shares of the financial services provider’s stock worth $3,425,000 after acquiring an additional 27,098 shares in the last quarter. ClariVest Asset Management LLC boosted its holdings in shares of Mid Penn Bancorp by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 38,366 shares of the financial services provider’s stock worth $842,000 after acquiring an additional 1,072 shares during the period. Finally, American Century Companies Inc. grew its position in shares of 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 valued at $3,170,000 after purchasing an additional 11,731 shares in the last quarter. 43.11% of the stock is owned by hedge funds and other institutional investors.

Mid Penn Bancorp Stock Performance

NASDAQ:MPB opened at $28.40 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.12. Mid Penn Bancorp, Inc. has a twelve month low of $19.20 and a twelve month high of $33.87. The stock has a market cap of $472.01 million, a P/E ratio of 9.76 and a beta of 0.57. The business’s 50-day moving average price is $31.05 and its two-hundred day moving average price is $28.56.

Mid Penn Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Investors 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 dividend yield of 2.82%. Mid Penn Bancorp’s dividend payout ratio is 27.49%.

Insider Buying and Selling

In related news, Director Albert J. Evans bought 8,474 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average cost of $29.50 per share, for a total transaction of $249,983.00. Following the acquisition, the director now directly owns 34,712 shares of the company’s stock, valued at $1,024,004. The trade was a 32.30 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought 9,678 shares of company stock worth $285,510 in the last quarter. 10.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MPB has been the topic of a number of recent research reports. StockNews.com cut Mid Penn Bancorp from a “buy” rating to a “hold” rating in a report on Monday, October 14th. Piper Sandler boosted their price objective on shares of Mid Penn Bancorp from $31.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Mid Penn Bancorp from $34.00 to $37.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th.

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.