How are energy investors positioned?
Albert J. Evans, a director at Mid Penn Bancorp Inc. (NASDAQ:MPB), recently acquired shares in the company. According to a filing with the Securities and Exchange Commission, Evans purchased 386 shares of Mid Penn Bancorp common stock on March 31, 2025, at a price of $25.91 per share, totaling approximately $10,001. The shares were acquired through the Director Stock Purchase Plan. The purchase comes as Mid Penn Bancorp, currently valued at $496 million, trades at an attractive P/E ratio of 8.8x. InvestingPro analysis suggests the stock is currently fairly valued, with analyst price targets ranging from $35 to $37.50.
Following this transaction, Evans holds a total of 35,496.946 shares directly, which includes shares acquired through the Dividend Reinvestment Plan. Additionally, Evans has indirect ownership of 1,243.0798 shares via a 401(k) plan, held under Frontier Trust FSB, TTEE Fanelli, Evans & Patel. Furthermore, he possesses 999 shares of restricted stock, which will fully vest on the first anniversary of the grant date.
In other recent news, Mid Penn Bancorp Inc. announced the launch of a new Executive Annual Incentive Plan aimed at enhancing the company’s profitability and growth. This plan, approved by the Board of Directors, aligns the financial interests of the executive team with the company’s overall performance. The incentive structure includes annual cash and/or equity bonuses contingent upon meeting specific performance objectives set annually by the Compensation Committee. These objectives may involve metrics such as net income, efficiency ratio, and tangible book value growth, alongside qualitative factors relevant to each participant’s role. Bonuses will be paid no later than March 15th following the end of each plan year, with equity awards distributed as restricted stock with a three-year vesting period. The plan also includes recovery or clawback provisions in line with company policy or applicable laws. This initiative is part of Mid Penn Bancorp’s strategy to attract, motivate, and retain key contributors to its success. The full details of the incentive plan are available in the company’s 8-K filing.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.