Mid Penn Bancorp director Matthew De Soto buys $8,017 in inventory

Matthew G. De Soto, a director at Mid Penn Bancorp Inc. (NASDAQ:MPB), not too long ago bought further shares of the corporate’s inventory. In response to a submitting with the Securities and Trade Fee, De Soto acquired 278 shares at a worth of $28.84 every, totaling roughly $8,017. This transaction was executed on December 31, 2024. The regional financial institution, with a market capitalization of $553 million, has seen its inventory surge 32% over the previous six months. InvestingPro evaluation suggests the inventory is at present buying and selling above its Truthful Worth. Following this buy, De Soto holds 100,586.713 shares instantly. Moreover, he maintains oblique possession of two,292 shares by a custodial account for his youngsters and 78 shares by L T D Investments. De Soto additionally holds 999 shares of restricted inventory, that are set to vest absolutely on the primary anniversary of the grant date. The corporate trades at a gorgeous P/E ratio of 9.86 and gives a 2.77% dividend yield, having maintained dividend funds for 14 consecutive years. InvestingPro subscribers can entry further insights and seven extra ProTips about MPB’s monetary well being and progress prospects.

In different latest information, Mid Penn Bancorp has finalized the sale of an extra 356,250 shares of frequent inventory as a part of a latest underwriting settlement, following its preliminary public providing of two,375,000 shares. The sale is anticipated to supply the Pennsylvania-based financial institution with elevated monetary flexibility to assist future progress initiatives. In additional developments, Mid Penn Bancorp’s earnings per share (EPS) improved to $0.74 for the third quarter of 2024, primarily on account of higher-than-expected web curiosity earnings and charge earnings. Monetary companies agency Piper Sandler upgraded its worth goal for the financial institution’s shares to $35.00, sustaining an Obese ranking, following sturdy efficiency within the second quarter. Regardless of a slight enhance in nonperforming belongings, Mid Penn Bancorp’s credit score profile stays sturdy, and the financial institution reported larger capital ranges for the quarter. These are the newest updates within the latest sequence of occasions surrounding Mid Penn Bancorp.

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