Mid Penn Bancorp Independent Director Acquires 12% More Stock \
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, Theodore Mowery, recently bought US$98k worth of stock, for US$19.00 per share. While we're hesitant to get too excited about a purchase of that size, we do note it increased their holding by a solid 12%.
See our latest analysis for Mid Penn Bancorp
The Last 12 Months Of Insider Transactions At Mid Penn Bancorp
Notably, that recent purchase by Independent Director Theodore Mowery was not the only time they bought Mid Penn Bancorp shares this year. Earlier in the year, they paid US$28.95 per share in a US$145k purchase. That means that an insider was happy to buy shares at above the current price of US$19.74. Their view may have changed since then, but at least it shows they felt optimistic at the time. We always take careful note of the price insiders pay when purchasing shares. It is generally more encouraging if they paid above the current price, as it suggests they saw value, even at higher levels.
In the last twelve months Mid Penn Bancorp insiders were buying shares, but not selling. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
There are always plenty of stocks that insiders are buying. So if that suits your style you could check each stock one by one or you could take a look at this free list of companies. (Hint: insiders have been buying them).
Does Mid Penn Bancorp Boast High Insider Ownership?
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 13% of Mid Penn Bancorp shares, worth about US$40m. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.
So What Does This Data Suggest About Mid Penn Bancorp Insiders?
It's certainly positive to see the recent insider purchases. And the longer term insider transactions also give us confidence. Given that insiders also own a fair bit of Mid Penn Bancorp we think they are probably pretty confident of a bright future. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. To assist with this, we've discovered 1 warning sign that you should run your eye over to get a better picture of Mid Penn Bancorp.
Of course Mid Penn Bancorp may not be the best stock to buy. So you may wish to see this free collection of high quality 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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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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