Separately, ValuEngine cut Mid Penn Bancorp from a hold rating to a sell rating in a research note on Wednesday, October 17th.
Shares of MPB stock opened at $26.76 on Monday. Mid Penn Bancorp has a 12-month low of $24.17 and a 12-month high of $37.90. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $211.76 million, a PE ratio of 12.77 and a beta of 0.48.
In related news, Director William A. Specht III acquired 1,300 shares of Mid Penn Bancorp stock in a transaction on Friday, August 24th. The shares were bought at an average cost of $31.50 per share, with a total value of $40,950.00. Following the completion of the purchase, the director now directly owns 4,205 shares of the company’s stock, valued at approximately $132,457.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have acquired 3,445 shares of company stock worth $100,302 over the last three months. 22.50% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Schwab Charles Investment Management Inc. bought a new stake in Mid Penn Bancorp during the second quarter worth approximately $311,000. Bank of New York Mellon Corp purchased a new position in shares of Mid Penn Bancorp during the second quarter valued at approximately $497,000. Renaissance Technologies LLC purchased a new position in shares of Mid Penn Bancorp during the second quarter valued at approximately $527,000. Dimensional Fund Advisors LP boosted its position in shares of Mid Penn Bancorp by 23.0% during the second quarter. Dimensional Fund Advisors LP now owns 31,573 shares of the financial services provider’s stock valued at $1,102,000 after buying an additional 5,912 shares during the period. Finally, Eidelman Virant Capital purchased a new position in shares of Mid Penn Bancorp during the third quarter valued at approximately $1,144,000. 8.67% of the stock is currently owned by institutional investors.
About Mid Penn Bancorp
Mid Penn Bancorp, Inc operates as the holding company for Mid Penn Bank that provides commercial banking and trust services to individuals, partnerships, non-profit organizations, and corporations. It offers various time and demand deposit products, including checking accounts, savings accounts, clubs, money market deposit accounts, certificates of deposit, and IRAs.
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