Bank of New York Mellon Corp Grows Stake in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Bank of New York Mellon Corp lifted its position in Mid Penn Bancorp, Inc. (NASDAQ:MPB) by 19.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 74,669 shares of the financial services provider’s stock after purchasing an additional 12,297 shares during the period. Bank of New York Mellon Corp’s holdings in Mid Penn Bancorp were worth $2,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of MPB. Stonebridge Financial Group LLC purchased a new position in Mid Penn Bancorp during the fourth quarter valued at $45,000. SG Americas Securities LLC lifted its position in Mid Penn Bancorp by 18.6% during the fourth quarter. SG Americas Securities LLC now owns 6,484 shares of the financial services provider’s stock valued at $187,000 after purchasing an additional 1,018 shares in the last quarter. Thrivent Financial for Lutherans purchased a new position in Mid Penn Bancorp during the third quarter valued at $272,000. Franklin Resources Inc. purchased a new position in Mid Penn Bancorp during the third quarter valued at $285,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Mid Penn Bancorp during the third quarter valued at $542,000. 43.11% of the stock is currently owned by hedge funds and other institutional investors.

Mid Penn Bancorp Price Performance

NASDAQ MPB opened at $25.39 on Friday. The company has a market capitalization of $491.45 million, a PE ratio of 8.76 and a beta of 0.53. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.94 and a current ratio of 0.95. The business’s fifty day moving average is $28.48 and its 200 day moving average is $29.71. Mid Penn Bancorp, Inc. has a fifty-two week low of $19.20 and a fifty-two week high of $33.87.

Mid Penn Bancorp (NASDAQ:MPB) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share for the quarter, meeting the consensus estimate of $0.71. Mid Penn Bancorp had a return on equity of 8.43% and a net margin of 15.99%. Sell-side analysts predict that Mid Penn Bancorp, Inc. will post 3 earnings per share for the current year.

Mid Penn Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, February 7th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.80 dividend on an annualized basis and a yield of 3.15%. Mid Penn Bancorp’s dividend payout ratio is presently 27.59%.

Insider Buying and Selling at Mid Penn Bancorp

In other Mid Penn Bancorp news, Director Soto Matthew G. De purchased 2,575 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were acquired at an average cost of $29.07 per share, with a total value of $74,855.25. Following the completion of the acquisition, the director now directly owns 103,162 shares in the company, valued at $2,998,919.34. The trade was a 2.56 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Rory G. Ritrievi bought 3,050 shares of Mid Penn Bancorp stock in a transaction dated Monday, January 27th. The stock was purchased at an average cost of $30.05 per share, for a total transaction of $91,652.50. Following the completion of the acquisition, the chief executive officer now directly owns 7,385 shares of the company’s stock, valued at approximately $221,919.25. The trade was a 70.36 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 9,007 shares of company stock valued at $266,467 over the last ninety days. 10.70% of the stock is currently owned by company insiders.

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.