Mid Penn Bancorp, Inc. (NASDAQ:MPB) Shares Sold by Northern Trust Corp

Northern Trust Corp reduced its stake in shares of Mid Penn Bancorp, Inc. (NASDAQ:MPB) by 4.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,404 shares of the financial services provider’s stock after selling 3,139 shares during the period. Northern Trust Corp owned 0.87% of Mid Penn Bancorp worth $1,608,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Citigroup Inc. grew its holdings in shares of Mid Penn Bancorp by 300.9% in the fourth quarter. Citigroup Inc. now owns 1,339 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 1,005 shares during the period. Rhumbline Advisers acquired a new position in Mid Penn Bancorp in the 4th quarter valued at about $225,000. Wells Fargo & Company MN grew its stake in shares of Mid Penn Bancorp by 4.6% in the 3rd quarter. Wells Fargo & Company MN now owns 20,895 shares of the financial services provider’s stock valued at $362,000 after buying an additional 919 shares during the period. Finally, BlackRock Inc. increased its holdings in shares of Mid Penn Bancorp by 7.3% during the 4th quarter. BlackRock Inc. now owns 365,930 shares of the financial services provider’s stock worth $8,013,000 after buying an additional 24,913 shares during the last quarter. Institutional investors and hedge funds own 19.50% of the company’s stock.

Shares of MPB stock opened at $24.79 on Wednesday. Mid Penn Bancorp, Inc. has a 1-year low of $15.90 and a 1-year high of $29.87. The firm has a market cap of $208.56 million, a PE ratio of 9.68 and a beta of 0.65. The company has a 50-day moving average of $26.55 and a two-hundred day moving average of $23.42. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.02.

Mid Penn Bancorp (NASDAQ:MPB) last issued its quarterly earnings data on Wednesday, January 27th. The financial services provider reported $1.06 EPS for the quarter, topping the consensus estimate of $0.87 by $0.19. The firm had revenue of $33.84 million for the quarter, compared to analyst estimates of $27.19 million. Mid Penn Bancorp had a net margin of 18.55% and a return on equity of 8.92%. Sell-side analysts anticipate that Mid Penn Bancorp, Inc. will post 2.88 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, February 22nd. Shareholders of record on Wednesday, February 10th were issued a dividend of $0.19 per share. This is an increase from Mid Penn Bancorp’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Tuesday, February 9th. This represents a $0.76 annualized dividend and a yield of 3.07%. Mid Penn Bancorp’s dividend payout ratio is 36.36%.

Separately, Zacks Investment Research raised Mid Penn Bancorp from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Tuesday, March 16th.

About Mid Penn Bancorp

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 IRAs.

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Institutional Ownership by Quarter for Mid Penn Bancorp (NASDAQ:MPB)

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