Mid Penn Bancorp (NASDAQ:MPB) Stock Crosses Above 200-Day Moving Average – What’s Next?

Shares of Mid Penn Bancorp (NASDAQ:MPB) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $32.01 and traded as high as $32.90. Mid Penn Bancorp shares last traded at $32.79, with a volume of 73,763 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Mid Penn Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.00.

Mid Penn Bancorp Stock Up 0.3%

The business’s fifty day moving average is $32.65 and its 200-day moving average is $32.01. The company has a market cap of $830.90 million, a PE ratio of 14.90 and a beta of 0.49.

Mid Penn Bancorp (NASDAQ:MPB) last announced its earnings results on Tuesday, April 21st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.16). The business had revenue of $64.85 million for the quarter, compared to the consensus estimate of $63.15 million. Mid Penn Bancorp had a net margin of 13.95% and a return on equity of 8.31%.

Mid Penn Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.7%. The ex-dividend date was Monday, May 4th. Mid Penn Bancorp’s payout ratio is 40.00%.

Insider Activity at Mid Penn Bancorp

In other Mid Penn Bancorp news, Director Thomas R. Brugger bought 818 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was bought at an average cost of $31.35 per share, for a total transaction of $25,644.30. Following the completion of the transaction, the director owned 6,110 shares of the company’s stock, valued at $191,548.50. This represents a 15.46% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Soto Matthew G. De bought 1,525 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were acquired at an average price of $32.75 per share, with a total value of $49,943.75. Following the completion of the transaction, the director directly owned 118,696 shares of the company’s stock, valued at $3,887,294. This trade represents a 1.30% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 4,933 shares of company stock valued at $155,522 over the last 90 days. 7.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mid Penn Bancorp

Large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc lifted its holdings in Mid Penn Bancorp by 35.6% during the second quarter. Legal & General Group Plc now owns 1,877 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 493 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Mid Penn Bancorp by 416.9% during the second quarter. Tower Research Capital LLC TRC now owns 3,303 shares of the financial services provider’s stock valued at $93,000 after purchasing an additional 2,664 shares in the last quarter. SG Americas Securities LLC purchased a new position in Mid Penn Bancorp during the third quarter valued at approximately $121,000. US Bancorp DE lifted its holdings in Mid Penn Bancorp by 4,471.3% during the third quarter. US Bancorp DE now owns 4,937 shares of the financial services provider’s stock valued at $141,000 after purchasing an additional 4,829 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in Mid Penn Bancorp by 6.9% during the second quarter. Lazard Asset Management LLC now owns 5,576 shares of the financial services provider’s stock valued at $156,000 after purchasing an additional 358 shares in the last quarter. Hedge funds and other institutional investors own 43.11% of the company’s stock.

About Mid Penn Bancorp

Mid Penn Bancorp, Inc is a bank holding company headquartered in Hummelstown, Pennsylvania, serving as the parent of Mid Penn Bank. As a full-service financial institution, Mid Penn Bank operates a network of branches across central Pennsylvania, delivering retail and commercial banking services to individuals, families and businesses in its regional markets.

Through its banking subsidiary, the company offers a broad range of deposit products, including checking accounts, savings accounts and certificates of deposit, alongside consumer and commercial lending solutions.