Short Interest in Mid Penn Bancorp, Inc. (NASDAQ:MPB) Drops By 6.6%

Mid Penn Bancorp, Inc. (NASDAQ:MPB) saw a significant drop in short interest in October. As of October 31st, there was short interest totalling 42,200 shares, a drop of 6.6% from the September 30th total of 45,200 shares. Based on an average trading volume of 8,300 shares, the short-interest ratio is presently 5.1 days. Currently, 0.6% of the company’s stock are short sold.

Several brokerages have weighed in on MPB. Zacks Investment Research downgraded shares of Mid Penn Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, September 24th. ValuEngine upgraded shares of Mid Penn Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd.

Shares of NASDAQ:MPB traded down $0.11 on Monday, hitting $26.80. 6,100 shares of the company were exchanged, compared to its average volume of 6,869. Mid Penn Bancorp has a 1-year low of $21.51 and a 1-year high of $27.45. The stock’s 50 day moving average price is $25.45 and its 200 day moving average price is $25.03. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $227.22 million, a P/E ratio of 13.07 and a beta of 0.57.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Wednesday, November 6th will be paid a dividend of $0.18 per share. The ex-dividend date is Tuesday, November 5th. This represents a $0.72 annualized dividend and a dividend yield of 2.69%. Mid Penn Bancorp’s payout ratio is currently 35.12%.

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Mid Penn Bancorp by 79.2% during the second quarter. Vanguard Group Inc. now owns 144,943 shares of the financial services provider’s stock worth $3,616,000 after buying an additional 64,058 shares during the period. Context BH Capital Management LP lifted its stake in shares of Mid Penn Bancorp by 6.0% during the second quarter. Context BH Capital Management LP now owns 8,814 shares of the financial services provider’s stock worth $220,000 after buying an additional 501 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Mid Penn Bancorp by 2,277.4% during the second quarter. Tower Research Capital LLC TRC now owns 3,257 shares of the financial services provider’s stock worth $81,000 after buying an additional 3,120 shares during the period. Northern Trust Corp lifted its stake in shares of Mid Penn Bancorp by 11.5% during the second quarter. Northern Trust Corp now owns 56,041 shares of the financial services provider’s stock worth $1,398,000 after buying an additional 5,786 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Mid Penn Bancorp by 235.2% during the second quarter. JPMorgan Chase & Co. now owns 3,845 shares of the financial services provider’s stock worth $95,000 after buying an additional 2,698 shares during the period. Institutional investors and hedge funds own 17.56% 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 IRAs.

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