Rhumbline Advisers Increases Stock Holdings in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Rhumbline Advisers boosted its holdings in Mid Penn Bancorp, Inc. (NASDAQ:MPB) by 4.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 22,344 shares of the financial services provider’s stock after buying an additional 877 shares during the quarter. Rhumbline Advisers’ holdings in Mid Penn Bancorp were worth $490,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MPB. BNP Paribas Financial Markets increased its holdings in shares of Mid Penn Bancorp by 138.5% during the 4th quarter. BNP Paribas Financial Markets now owns 14,713 shares of the financial services provider’s stock worth $357,000 after buying an additional 8,545 shares during the last quarter. BHZ Capital Management LP grew its position in Mid Penn Bancorp by 53.8% during the fourth quarter. BHZ Capital Management LP now owns 23,739 shares of the financial services provider’s stock valued at $576,000 after acquiring an additional 8,307 shares during the period. Empowered Funds LLC grew its position in Mid Penn Bancorp by 7.8% during the first quarter. Empowered Funds LLC now owns 31,268 shares of the financial services provider’s stock valued at $626,000 after acquiring an additional 2,275 shares during the period. Bank of New York Mellon Corp increased its stake in Mid Penn Bancorp by 7.6% during the second quarter. Bank of New York Mellon Corp now owns 72,676 shares of the financial services provider’s stock worth $1,595,000 after acquiring an additional 5,153 shares during the last quarter. Finally, Kennedy Capital Management LLC raised its holdings in shares of Mid Penn Bancorp by 126.4% in the 1st quarter. Kennedy Capital Management LLC now owns 96,086 shares of the financial services provider’s stock worth $1,923,000 after purchasing an additional 53,650 shares during the period. 43.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MPB has been the subject of a number of research reports. Piper Sandler boosted their target price on Mid Penn Bancorp from $25.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. StockNews.com raised shares of Mid Penn Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, August 9th.

Mid Penn Bancorp Stock Up 1.6 %

Shares of NASDAQ MPB opened at $30.18 on Thursday. The stock has a fifty day moving average price of $28.27 and a 200 day moving average price of $23.53. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.12. Mid Penn Bancorp, Inc. has a 12-month low of $18.63 and a 12-month high of $30.91. The company has a market cap of $503.67 million, a P/E ratio of 13.06 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.06. The business had revenue of $44.10 million during the quarter, compared to analyst estimates of $41.63 million. Mid Penn Bancorp had a return on equity of 7.99% and a net margin of 15.57%. Research analysts anticipate that Mid Penn Bancorp, Inc. will post 2.81 EPS for the current fiscal year.

Mid Penn Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.65%. Mid Penn Bancorp’s dividend payout ratio is currently 34.63%.

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.