Squarepoint Ops LLC Invests $282,000 in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

Squarepoint Ops LLC bought a new stake in Mid Penn Bancorp, Inc. (NASDAQ:MPB) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 12,861 shares of the financial services provider’s stock, valued at approximately $282,000. Squarepoint Ops LLC owned about 0.08% of Mid Penn Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of MPB. Vanguard Group Inc. lifted its stake in Mid Penn Bancorp by 1.8% in 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. Dimensional Fund Advisors LP raised its stake in Mid Penn Bancorp by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 418,963 shares of the financial services provider’s stock valued at $9,195,000 after buying an additional 31,292 shares during the period. LSV Asset Management boosted its stake in shares of Mid Penn Bancorp by 21.0% during the 2nd quarter. LSV Asset Management now owns 156,059 shares of the financial services provider’s stock worth $3,425,000 after acquiring an additional 27,098 shares during the period. American Century Companies Inc. boosted its stake in shares of Mid Penn Bancorp by 8.8% during the 2nd quarter. American Century Companies Inc. now owns 144,397 shares of the financial services provider’s stock worth $3,170,000 after acquiring an additional 11,731 shares during the period. Finally, Kennedy Capital Management LLC increased its holdings in shares of 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 worth $1,923,000 after acquiring an additional 53,650 shares during the last quarter. Institutional investors own 43.11% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on MPB. Piper Sandler raised their price target on Mid Penn Bancorp from $25.00 to $31.00 and gave the company an “overweight” rating in a report 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 Stock Performance

NASDAQ:MPB opened at $30.48 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.12. The stock has a 50 day simple moving average of $28.65 and a 200 day simple moving average of $24.18. Mid Penn Bancorp, Inc. has a 1-year low of $18.63 and a 1-year high of $30.91. The stock has a market cap of $508.68 million, a P/E ratio of 13.19 and a beta of 0.58.

Mid Penn Bancorp (NASDAQ:MPB) last announced 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. Mid Penn Bancorp had a net margin of 15.57% and a return on equity of 7.99%. The company had revenue of $44.10 million during the quarter, compared to analysts’ expectations of $41.63 million. Research analysts anticipate that Mid Penn Bancorp, Inc. will post 2.81 earnings per share for the current year.

Mid Penn Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were given 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 2.62%. Mid Penn Bancorp’s payout ratio is presently 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.