LSV Asset Management Has $3.43 Million Stock Position in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

LSV Asset Management lifted its position in Mid Penn Bancorp, Inc. (NASDAQ:MPB) by 21.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 156,059 shares of the financial services provider’s stock after buying an additional 27,098 shares during the quarter. LSV Asset Management’s holdings in Mid Penn Bancorp were worth $3,425,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Kennedy Capital Management LLC raised its stake in Mid Penn Bancorp by 126.4% during the 1st quarter. Kennedy Capital Management LLC now owns 96,086 shares of the financial services provider’s stock valued at $1,923,000 after purchasing an additional 53,650 shares during the last quarter. Vanguard Group Inc. raised its stake in Mid Penn Bancorp by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 688,363 shares of the financial services provider’s stock valued at $13,774,000 after purchasing an additional 12,314 shares during the last quarter. BHZ Capital Management LP raised its stake in Mid Penn Bancorp by 53.8% during the 4th quarter. BHZ Capital Management LP now owns 23,739 shares of the financial services provider’s stock valued at $576,000 after purchasing an additional 8,307 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Mid Penn Bancorp by 53.2% in the 1st quarter. BNP Paribas Financial Markets now owns 22,545 shares of the financial services provider’s stock valued at $451,000 after buying an additional 7,832 shares in the last quarter. Finally, Empowered Funds LLC raised its stake in shares of Mid Penn Bancorp by 7.8% in the 1st quarter. Empowered Funds LLC now owns 31,268 shares of the financial services provider’s stock valued at $626,000 after buying an additional 2,275 shares in the last quarter. 43.11% of the stock is currently owned by institutional investors and hedge funds.

Mid Penn Bancorp Stock Down 1.3 %

MPB opened at $28.43 on Thursday. The firm’s 50-day simple moving average is $26.96 and its 200-day simple moving average is $22.88. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.95 and a current ratio of 0.95. Mid Penn Bancorp, Inc. has a twelve month low of $18.63 and a twelve month high of $30.51. The firm has a market cap of $474.47 million, a price-to-earnings ratio of 12.31 and a beta of 0.58.

Mid Penn Bancorp (NASDAQ:MPB) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.06. Mid Penn Bancorp had a net margin of 15.57% and a return on equity of 7.99%. The business had revenue of $44.10 million for the quarter, compared to analyst estimates of $41.63 million. Equities research analysts anticipate that Mid Penn Bancorp, Inc. will post 2.74 EPS for the current fiscal year.

Mid Penn Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.81%. The ex-dividend date was Friday, August 9th. Mid Penn Bancorp’s payout ratio is 34.63%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on MPB shares. Piper Sandler increased their price objective on shares of Mid Penn Bancorp from $25.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. StockNews.com upgraded shares of Mid Penn Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, August 9th.

Mid Penn Bancorp Profile

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 individual retirement accounts.