Mid Penn Bancorp, Inc. (NASDAQ:MPB) Short Interest Update

Mid Penn Bancorp, Inc. (NASDAQ:MPB) was the recipient of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 313,700 shares, a growth of 405.2% from the October 31st total of 62,100 shares. Based on an average trading volume of 51,400 shares, the short-interest ratio is currently 6.1 days.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MPB shares. Keefe, Bruyette & Woods boosted their price target on Mid Penn Bancorp from $34.00 to $37.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. StockNews.com cut Mid Penn Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, October 14th. Finally, Piper Sandler boosted their price objective on Mid Penn Bancorp from $31.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th.

Mid Penn Bancorp Trading Down 0.1 %

Shares of Mid Penn Bancorp stock traded down $0.02 during trading hours on Friday, hitting $32.05. The company’s stock had a trading volume of 33,524 shares, compared to its average volume of 40,185. Mid Penn Bancorp has a twelve month low of $19.20 and a twelve month high of $33.87. The firm has a fifty day moving average of $30.95 and a 200-day moving average of $26.93. The stock has a market cap of $532.67 million, a price-to-earnings ratio of 11.02 and a beta of 0.57. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.94 and a current ratio of 0.95.

Mid Penn Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Friday, November 8th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.50%. The ex-dividend date was Friday, November 8th. Mid Penn Bancorp’s payout ratio is 27.49%.

Insider Transactions at Mid Penn Bancorp

In other news, Director Albert J. Evans purchased 8,474 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average cost of $29.50 per share, for a total transaction of $249,983.00. Following the completion of the transaction, the director now owns 34,712 shares of the company’s stock, valued at $1,024,004. This trade represents a 32.30 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have bought 9,669 shares of company stock valued at $285,241 over the last ninety days. Insiders own 10.70% of the company’s stock.

Hedge Funds Weigh In On Mid Penn Bancorp

Several hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. acquired a new position in Mid Penn Bancorp during the 3rd quarter worth about $285,000. Barclays PLC lifted its stake in Mid Penn Bancorp by 61.3% during the 3rd quarter. Barclays PLC now owns 36,805 shares of the financial services provider’s stock worth $1,098,000 after acquiring an additional 13,986 shares in the last quarter. Geode Capital Management LLC lifted its stake in Mid Penn Bancorp by 5.3% during the 3rd quarter. Geode Capital Management LLC now owns 350,375 shares of the financial services provider’s stock worth $10,454,000 after acquiring an additional 17,730 shares in the last quarter. Jane Street Group LLC lifted its stake in Mid Penn Bancorp by 72.7% during the 3rd quarter. Jane Street Group LLC now owns 22,145 shares of the financial services provider’s stock worth $661,000 after acquiring an additional 9,324 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Mid Penn Bancorp by 14.3% during the 3rd quarter. Wellington Management Group LLP now owns 638,594 shares of the financial services provider’s stock worth $19,049,000 after acquiring an additional 79,851 shares in the last quarter. Institutional investors and hedge funds own 43.11% of the company’s stock.

About Mid Penn Bancorp

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.