Mid Penn Bancorp (NASDAQ:MPB) Shares Pass Below 200-Day Moving Average of $21.30

Mid Penn Bancorp, Inc. (NASDAQ:MPB)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $21.30 and traded as low as $20.30. Mid Penn Bancorp shares last traded at $20.41, with a volume of 49,206 shares trading hands.

Wall Street Analyst Weigh In

MPB has been the topic of several research reports. Piper Sandler dropped their price objective on shares of 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. TheStreet downgraded shares of Mid Penn Bancorp from a “b” rating to a “c+” rating in a research report on Tuesday, February 13th.

Mid Penn Bancorp Price Performance

The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $338.36 million, a P/E ratio of 8.96 and a beta of 0.57. The company’s 50-day simple moving average is $20.27 and its 200 day simple moving average is $21.29.

Mid Penn Bancorp (NASDAQ:MPB) last posted its earnings results on Friday, January 26th. The financial services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.59 by $0.14. The company had revenue of $42.12 million during the quarter, compared to the consensus estimate of $42.03 million. Mid Penn Bancorp had a net margin of 14.59% and a return on equity of 8.37%. As a group, sell-side analysts expect that Mid Penn Bancorp, Inc. will post 2.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Theodore W. Mowery acquired 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was acquired at an average cost of $20.42 per share, with a total value of $40,840.00. Following the acquisition, the director now owns 31,540 shares in the company, valued at $644,046.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Soto Matthew G. De purchased 1,185 shares of Mid Penn Bancorp stock in a transaction on Thursday, February 1st. The stock was purchased at an average cost of $21.13 per share, with a total value of $25,039.05. Following the acquisition, the director now directly owns 67,863 shares in the company, valued at $1,433,945.19. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Theodore W. Mowery purchased 2,000 shares of Mid Penn Bancorp stock in a transaction on Friday, March 15th. The stock was bought at an average cost of $20.42 per share, with a total value of $40,840.00. Following the completion of the acquisition, the director now owns 31,540 shares in the company, valued at $644,046.80. The disclosure for this purchase can be found here. In the last three months, insiders bought 4,994 shares of company stock valued at $103,875. Company insiders own 9.90% of the company’s stock.

Institutional Trading of Mid Penn Bancorp

Hedge funds have recently bought and sold shares of the stock. Grace & White Inc. NY boosted its holdings in 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 during the period. Swiss National Bank lifted its holdings in shares of Mid Penn Bancorp by 8.2% during the 3rd quarter. Swiss National Bank now owns 31,517 shares of the financial services provider’s stock worth $634,000 after acquiring an additional 2,400 shares during the period. Barclays PLC boosted its position in shares of Mid Penn Bancorp by 18.1% during the 3rd quarter. Barclays PLC now owns 23,154 shares of the financial services provider’s stock valued at $466,000 after acquiring an additional 3,548 shares in the last quarter. Endeavour Capital Advisors Inc. increased its stake in Mid Penn Bancorp by 2.0% in the third quarter. Endeavour Capital Advisors Inc. now owns 110,187 shares of the financial services provider’s stock valued at $2,218,000 after acquiring an additional 2,136 shares during the period. Finally, SG Americas Securities LLC raised its position in Mid Penn Bancorp by 15.0% in the fourth quarter. SG Americas Securities LLC now owns 8,052 shares of the financial services provider’s stock worth $196,000 after purchasing an additional 1,050 shares in the last quarter. 43.11% of the stock is owned by institutional investors.

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.