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Director Robert A. Abel of Mid Penn Bancorp Inc (NASDAQ:MPB), a regional bank with a market capitalization of $565 million, has recently purchased 17 shares of the company’s common stock, according to a Form 4 filing with the Securities and Exchange Commission. The shares were bought at a price of $28.20 on June 30, 2025, for a total transaction value of $479. According to InvestingPro analysis, the company maintains a strong financial health score and has consistently paid dividends for 15 consecutive years, currently yielding 2.75%.
Following this transaction, Abel directly owns 7,517.625 shares of Mid Penn Bancorp, Inc. Common Stock. This balance includes shares acquired through the Dividend Reinvestment Plan. Abel also indirectly owns 26,728.995 shares through the Robert and Julie Abel Living Trust. Additionally, Abel directly owns 1,945 shares of Mid Penn Bancorp, Inc. Common Restricted Stock, which vests 100% on the first anniversary of the date of grant. The stock currently trades at an attractive P/E ratio of 10.09, and InvestingPro subscribers can access 5 additional key insights about MPB’s valuation and growth prospects.
In other recent news, Mid Penn Bancorp reported a strong financial performance for the first quarter of 2025, with net income reaching $13.7 million, or $0.71 per diluted share, exceeding the analyst consensus estimate of $0.63 per share. The company also announced a cash dividend of $0.20 per common share, marking its 58th consecutive quarterly dividend. In addition, Mid Penn Bancorp is moving forward with its merger with William Penn Bancorporation, having received all necessary regulatory and shareholder approvals. The merger, set to close in the middle of the second quarter of 2025, is expected to enhance Mid Penn’s market presence and increase its total assets to approximately $6.3 billion.
Shareholders of Mid Penn and William Penn overwhelmingly approved the merger, with over 96% of William Penn shares and more than 98% of Mid Penn shares voting in favor. During its Annual Meeting of Shareholders, Mid Penn Bancorp also elected five Class C members to its Board of Directors and approved a non-binding advisory vote on executive compensation. Furthermore, shareholders ratified the appointment of RSM US LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025. These developments underscore Mid Penn Bancorp’s strategic efforts to strengthen its financial standing and expand its operational footprint.
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