Mid Penn Bancorp (NASDAQ:MPB) Lifted to Buy at StockNews.com

Mid Penn Bancorp (NASDAQ:MPBGet Free Report) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

MPB has been the subject of a number of other research reports. TheStreet lowered shares of Mid Penn Bancorp from a “b” rating to a “c+” rating in a research report on Tuesday, February 13th. Piper Sandler decreased their price target on Mid Penn Bancorp from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st.

View Our Latest Analysis on MPB

Mid Penn Bancorp Stock Down 1.1 %

Shares of Mid Penn Bancorp stock traded down $0.23 during trading on Friday, reaching $21.52. 17,814 shares of the company traded hands, compared to its average volume of 43,564. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.94 and a quick ratio of 0.94. Mid Penn Bancorp has a 1-year low of $18.63 and a 1-year high of $25.92. The company has a 50 day moving average price of $20.33 and a 200-day moving average price of $21.38. The firm has a market capitalization of $356.59 million, a PE ratio of 9.32 and a beta of 0.56.

Insider Buying and Selling at Mid Penn Bancorp

In other Mid Penn Bancorp news, Director Theodore W. Mowery purchased 2,000 shares of the company’s stock in a transaction on Friday, March 15th. The stock was acquired at an average cost of $20.42 per share, for a total transaction of $40,840.00. Following the purchase, the director now directly owns 31,540 shares of the company’s stock, valued at approximately $644,046.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Theodore W. Mowery acquired 2,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were acquired at an average cost of $20.42 per share, with a total value of $40,840.00. Following the acquisition, the director now directly owns 31,540 shares of the company’s stock, valued at $644,046.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Soto Matthew G. De purchased 9,615 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was bought at an average price of $20.76 per share, with a total value of $199,607.40. Following the completion of the transaction, the director now owns 79,190 shares of the company’s stock, valued at $1,643,984.40. The disclosure for this purchase can be found here. Insiders have acquired a total of 13,223 shares of company stock valued at $273,830 over the last ninety days. 9.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Strs Ohio increased its holdings in Mid Penn Bancorp by 1,223.5% in the third quarter. Strs Ohio now owns 22,500 shares of the financial services provider’s stock valued at $452,000 after buying an additional 20,800 shares during the last quarter. Trexquant Investment LP purchased a new position in Mid Penn Bancorp during the 3rd quarter worth $348,000. LSV Asset Management increased its position in Mid Penn Bancorp by 11.1% during the 1st quarter. LSV Asset Management now owns 128,961 shares of the financial services provider’s stock worth $2,581,000 after purchasing an additional 12,883 shares during the period. Vanguard Group Inc. grew its stake in shares of 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 worth $13,774,000 after purchasing an additional 12,314 shares during the period. Finally, Grace & White Inc. NY increased its holdings in shares of Mid Penn Bancorp by 75.0% in the 4th quarter. Grace & White Inc. NY now owns 21,103 shares of the financial services provider’s stock valued at $512,000 after purchasing an additional 9,042 shares in the last quarter. Institutional investors and hedge funds own 43.11% of the company’s stock.

Mid Penn Bancorp Company Profile

(Get Free Report)

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.

Further Reading

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