Mid Penn Bancorp director buys $2,509 in shares

In a latest SEC submitting, Mid Penn Bancorp Inc. (NASDAQ:MPB), a regional financial institution with a market capitalization of $553 million, reported that Frank Joel L., a director of the corporate, acquired further shares of the financial institution. On December 31, 2024, Mr. Frank bought 87 shares of the corporate’s widespread inventory at a value of $28.84 per share, totaling roughly $2,509. The inventory has proven robust momentum with a 32% achieve over the previous six months, in response to InvestingPro knowledge. This buy was made by way of the Director Inventory Buy Plan. Following this transaction, Mr. Frank holds a complete of seven,813.413 shares straight. Moreover, he owns 999 shares of restricted inventory, which can totally vest on the primary anniversary of the grant date. The financial institution maintains a stable 2.77% dividend yield and has maintained dividend funds for 14 consecutive years. InvestingPro subscribers can entry further insights, together with 7 extra key funding ideas for MPB.

In different latest information, Mid Penn Bancorp has accomplished the sale of an extra 356,250 shares of widespread inventory, following the corporate’s preliminary public providing of two,375,000 shares. This improvement is a part of the corporate’s efforts to extend its capital and assist future development initiatives. The shares had been bought at a public providing value of $29.50 per share, with Stephens Inc. and Piper Sandler & Co. appearing as representatives for the underwriters.

Mid Penn Bancorp’s earnings per share (EPS) for the third quarter of 2024 was reported at $0.74, surpassing each analysts’ and consensus estimates, primarily on account of higher-than-expected internet curiosity earnings and price earnings. As well as, Piper Sandler, a monetary providers agency, upgraded its value goal for Mid Penn Bancorp shares to $35.00, sustaining an Chubby score.

The corporate’s credit score profile stays robust, with nonperforming belongings (NPAs) exhibiting solely a slight improve on account of a single mortgage migration. Regardless of not participating in any share repurchases, Mid Penn Bancorp reported larger capital ranges for the quarter. These are the latest developments surrounding Mid Penn Bancorp.

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