MPB

Mid Penn Bancorp($MPB) Director Acquires $100,000 in Shares, Extending Year-Long Executive Buying Streak

05/19/2025 16:38

Directors at Mid Penn Bancorp ($MPB) continue to demonstrate confidence in their company through consistent share purchases, with board member Matthew De Soto's recent substantial acquisition drawing particular attention. According to an SEC filing on May 16, De Soto purchased 3,560 shares worth approximately $100,056 at an average price of $28.11. This transaction represents not an isolated event but rather a continuation of a steady buying pattern among Mid Penn insiders. Since June 2024, the company's directors and senior executives have regularly acquired shares. Most notably, a significant cluster purchase occurred on November 1, 2024, when five C-level executives including President Rory Ritrievi and nine directors collectively invested about $1.3 million in company stock. These consistent insider purchases have persisted through various fluctuations in the stock price. $MPB shares began climbing sharply in mid-July 2024, reaching a peak of $32.80 in November 2024, before declining to the $25 range by March 2025. The stock has since rebounded since April and recently traded at $28.14. The ongoing insider buying appears aligned with Mid Penn Bancorp's solid financial performance. The company exceeded analyst expectations in Q1 2025, reporting earnings per share (EPS) of $0.71, surpassing the analyst estimate of $0.65 by 9.2%, while revenue increased 12.9% year-over-year to $47.75 million. Mid Penn Bancorp has actively pursued growth through strategic acquisitions, notably with its recently completed purchase of William Penn Bancorporation. Announced on November 1, 2024, the $127 million transaction was finalized on May 1, 2025. This acquisition strengthens the company's presence in the greater Philadelphia metropolitan area and doubles down on its investments in southeastern Pennsylvania. President Rory Ritrievi has previously stated, "We are focused on expanding our market share through both organic growth and strategic acquisitions. The William Penn acquisition in particular will significantly strengthen our market position." De Soto stands out as a particularly committed insider. He also purchased approximately $100,000 worth of shares on February 4, 2025, and made a substantial $543,000 investment during the November 1, 2024, cluster buying event. His consistent purchasing pattern suggests strong confidence in the company's long-term growth prospects. Other insider activities are equally noteworthy. President Ritrievi acquired shares worth approximately $190,000 across two transactions on January 27 and February 14, 2025, while director Albert Evans purchased about $40,000 worth of shares in consecutive transactions in late April 2025. The sole selling transaction came from director Brian Hudson, who sold 500 shares ($14,413) on May 8, a relatively minor move compared to the pattern of substantial insider purchases. Financial data indicates Mid Penn Bancorp maintains a healthy financial position with a dividend yield of 2.84%. The company's market capitalization stands at approximately $640 million, with a P/E ratio of 9.71, which some analysts consider undervalued compared to industry averages. Analysts maintain a positive outlook on Mid Penn Bancorp, with an average price target of $35.00, suggesting approximately 24% upside potential from current levels. Following the completion of the William Penn Bancorporation acquisition, analysts project an average annual revenue growth of 18% over the next two years. While the U.S. banking industry faces challenges related to the interest rate environment and consumer confidence, regional banks like Mid Penn Bancorp maintain competitive advantages in niche markets through strong community ties and personalized financial services. Additionally, recent optimism surrounding a U.S.-China tariff truce has supported market sentiment. Considering the consistent insider buying, solid financial performance, and growth strategy through strategic acquisitions, Mid Penn Bancorp appears attractive for long-term investors. However, macroeconomic risk factors such as U.S. credit rating downgrades and inflation concerns remain areas to monitor.

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