Mid Penn Bancorp, Inc. (NASDAQ:MPB – Get Free Report) saw a large decline in short interest in November. As of November 30th, there was short interest totalling 57,100 shares, a decline of 18.5% from the November 15th total of 70,100 shares. Based on an average daily volume of 26,200 shares, the short-interest ratio is presently 2.2 days.

Analysts Set New Price Targets

Several research firms have issued reports on MPB. Keefe, Bruyette & Woods began coverage on shares of Mid Penn Bancorp in a research note on Tuesday, December 5th. They set an “outperform” rating and a $26.00 target price on the stock. StockNews.com began coverage on shares of Mid Penn Bancorp in a research report on Thursday, October 5th. They set a “hold” rating for the company. Finally, TheStreet lowered shares of Mid Penn Bancorp from a “b-” rating to a “c+” rating in a research report on Wednesday, November 1st.

View Our Latest Research Report on Mid Penn Bancorp

Mid Penn Bancorp Stock Performance

Mid Penn Bancorp stock traded up $0.45 during midday trading on Friday, hitting $24.50. The stock had a trading volume of 117,516 shares, compared to its average volume of 36,030. The firm’s fifty day moving average is $20.83 and its two-hundred day moving average is $21.91. The company has a market capitalization of $408.39 million, a PE ratio of 9.65 and a beta of 0.59. Mid Penn Bancorp has a 52-week low of $18.25 and a 52-week high of $32.61. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.20.

Mid Penn Bancorp (NASDAQ:MPB – Get Free Report) last released its earnings results on Wednesday, October 25th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.10). The firm had revenue of $42.83 million during the quarter, compared to analysts’ expectations of $41.62 million. Mid Penn Bancorp had a return on equity of 9.19% and a net margin of 17.19%. On average, research analysts forecast that Mid Penn Bancorp will post 2.57 EPS for the current year.

Mid Penn Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 27th. Shareholders of record on Friday, November 10th were paid a $0.20 dividend. The ex-dividend date was Thursday, November 9th. This represents a $0.80 annualized dividend and a yield of 3.27%. Mid Penn Bancorp’s payout ratio is 31.50%.

Insider Buying and Selling

In other news, Director Soto Matthew G. De purchased 2,510 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The shares were bought at an average price of $20.17 per share, for a total transaction of $50,626.70. Following the purchase, the director now directly owns 65,115 shares in the company, valued at approximately $1,313,369.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have bought a total of 4,852 shares of company stock worth $97,740 in the last quarter. Corporate insiders own 10.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MPB. Millennium Management LLC bought a new position in Mid Penn Bancorp in the 4th quarter worth approximately $2,415,000. State Street Corp boosted its stake in Mid Penn Bancorp by 21.7% in the 1st quarter. State Street Corp now owns 291,571 shares of the financial services provider’s stock worth $7,467,000 after purchasing an additional 51,930 shares during the period. Two Sigma Investments LP bought a new position in Mid Penn Bancorp in the 4th quarter worth approximately $1,378,000. First Trust Advisors LP boosted its stake in Mid Penn Bancorp by 351.2% in the 1st quarter. First Trust Advisors LP now owns 58,491 shares of the financial services provider’s stock worth $1,498,000 after purchasing an additional 45,528 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Mid Penn Bancorp by 250.7% in the 4th quarter. JPMorgan Chase & Co. now owns 62,482 shares of the financial services provider’s stock worth $1,872,000 after purchasing an additional 44,665 shares during the period. 42.21% of the stock is currently owned by institutional investors.

About Mid Penn Bancorp (Get Free Report)

Mid Penn Bancorp, Inc operates as the bank holding company for Mid Penn Bank that engages in the provision of 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.

See Also

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Original: MarketBeat News Feed: Mid Penn Bancorp, Inc. (NASDAQ:MPB) Short Interest Down 18.5% in November