Mid Penn Bancorp (NASDAQ:MPB) Stock Passes Above 200-Day Moving Average – Time to Sell?

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 $32.29 and traded as high as $34.00. Mid Penn Bancorp shares last traded at $33.92, with a volume of 119,218 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Mid Penn Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Mid Penn Bancorp Stock Performance

The firm has a market cap of $859.53 million, a price-to-earnings ratio of 15.42 and a beta of 0.48. The firm has a 50-day moving average price of $32.93 and a two-hundred day moving average price of $32.29.

Mid Penn Bancorp (NASDAQ:MPB) last issued its earnings results on Tuesday, April 21st. The financial services provider reported $0.64 earnings per share 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 analyst estimates of $63.15 million. Mid Penn Bancorp had a return on equity of 8.31% and a net margin of 13.95%.

Mid Penn Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $0.88 annualized dividend and a yield of 2.6%. Mid Penn Bancorp’s payout ratio is 40.00%.

Insider Buying and Selling

In other news, Director Soto Matthew G. De purchased 1,525 shares of the business’s stock in a transaction on Monday, May 4th. The shares were bought 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 in the company, valued at approximately $3,887,294. This represents a 1.30% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its position 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 worth $53,000 after buying an additional 493 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Mid Penn Bancorp by 416.9% in the 2nd 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 during the last quarter. US Bancorp DE grew its stake in shares of Mid Penn Bancorp by 4,471.3% in the 3rd 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 during the last quarter. Lazard Asset Management LLC grew its stake in shares of Mid Penn Bancorp by 6.9% in the 2nd 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 during the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Mid Penn Bancorp by 10.2% in the 1st quarter. Royal Bank of Canada now owns 5,460 shares of the financial services provider’s stock valued at $176,000 after purchasing an additional 507 shares during the last quarter. Institutional investors and hedge funds 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.