McClarren Financial Advisors Inc. Grows Stake in Mid Penn Bancorp, Inc. (NASDAQ:MPB)

McClarren Financial Advisors Inc. raised its position in Mid Penn Bancorp, Inc. (NASDAQ:MPB) by 5,438.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,163 shares of the financial services provider’s stock after acquiring an additional 1,142 shares during the quarter. McClarren Financial Advisors Inc.’s holdings in Mid Penn Bancorp were worth $34,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Mid Penn Bancorp by 1.8% in the first quarter. Vanguard Group Inc. now owns 688,363 shares of the financial services provider’s stock valued at $13,774,000 after buying an additional 12,314 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Mid Penn Bancorp by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 418,963 shares of the financial services provider’s stock worth $9,195,000 after purchasing an additional 31,292 shares in the last quarter. LSV Asset Management lifted its stake in Mid Penn Bancorp by 21.0% in the 2nd quarter. LSV Asset Management now owns 156,059 shares of the financial services provider’s stock worth $3,425,000 after purchasing an additional 27,098 shares in the last quarter. American Century Companies Inc. boosted its holdings 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 purchasing an additional 11,731 shares during the last quarter. Finally, Kennedy Capital Management LLC grew its position in shares of Mid Penn Bancorp by 126.4% in the first 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 in the last quarter. 43.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MPB. Piper Sandler boosted their price objective on Mid Penn Bancorp from $25.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. StockNews.com cut shares of Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, October 14th.

Mid Penn Bancorp Stock Down 2.3 %

MPB stock opened at $31.25 on Monday. Mid Penn Bancorp, Inc. has a one year low of $18.63 and a one year high of $32.00. The firm has a market cap of $521.53 million, a PE ratio of 13.53 and a beta of 0.58. The firm’s 50 day moving average price is $29.24 and its 200-day moving average price is $24.72. 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 (NASDAQ:MPB) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.06. The company had revenue of $44.10 million for the quarter, compared to the consensus estimate of $41.63 million. Mid Penn Bancorp had a return on equity of 7.99% and a net margin of 15.57%. On average, equities research analysts anticipate that Mid Penn Bancorp, Inc. will post 2.81 EPS for the current year.

Mid Penn Bancorp Dividend Announcement

The business also recently declared 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend was Friday, August 9th. Mid Penn Bancorp’s dividend payout ratio is presently 34.63%.

Mid Penn Bancorp Company 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.