The Independent Director of Mid Penn Bancorp, Inc. (NASDAQ:MPB), Matthew DeSoto, Just Bought 12% More Shares
Whilst it may not be a huge deal, we thought it was good to see that the Mid Penn Bancorp, Inc. (NASDAQ:MPB) Independent Director, Matthew DeSoto, recently bought US$56k worth of stock, for US$24.18 per share. That purchase might not be huge but it did increase their holding by 12%.
Check out our latest analysis for Mid Penn Bancorp
Mid Penn Bancorp Insider Transactions Over The Last Year
In fact, the recent purchase by Matthew DeSoto was the biggest purchase of Mid Penn Bancorp shares made by an insider individual in the last twelve months, according to our records. So it's clear an insider wanted to buy, at around the current price, which is US$24.26. That means they have been optimistic about the company in the past, though they may have changed their mind. We do always like to see insider buying, but it is worth noting if those purchases were made at well below today's share price, as the discount to value may have narrowed with the rising price. In this case we're pleased to report that the insider purchases were made at close to current prices.
In the last twelve months insiders purchased 14.42k shares for US$361k. But they sold 1054 for US$29k. Overall, Mid Penn Bancorp insiders were net buyers last year. You can see the insider transactions (by individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
Mid Penn Bancorp is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.
Insider Ownership of Mid Penn Bancorp
For a common shareholder, it is worth checking how many shares are held by company insiders. We usually like to see fairly high levels of insider ownership. Insiders own 9.1% of Mid Penn Bancorp shares, worth about US$19m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.
So What Does This Data Suggest About Mid Penn Bancorp Insiders?
The recent insider purchases are heartening. We also take confidence from the longer term picture of insider transactions. Given that insiders also own a fair bit of Mid Penn Bancorp we think they are probably pretty confident of a bright future. Therefore, you should should definitely take a look at this FREE report showing analyst forecasts for Mid Penn Bancorp.
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
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