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Kimberly J. Brumbaugh, a director at Mid Penn Bancorp Inc. (NASDAQ:MPB), recently acquired additional shares of the company. According to a recent SEC filing, Brumbaugh purchased 97 shares of Mid Penn Bancorp common stock on March 31, 2025, at a price of $25.91 per share, totaling approximately $2,513. This transaction was conducted through the Director Stock Purchase Plan. The regional bank, with a market capitalization of approximately $496 million, currently trades near InvestingPro’s Fair Value estimate.
Following this acquisition, Brumbaugh’s direct ownership in the company increased to 8,958.441 shares. Additionally, she holds 1,106.8 shares indirectly through an IRA account and 999 shares of restricted stock, which are set to vest fully on the first anniversary of the grant date. The balance of her shares also includes those acquired through the Dividend Reinvestment Plan. The company maintains a solid 3.09% dividend yield and has consistently paid dividends for 15 consecutive years. Analysts maintain a positive outlook, with price targets ranging from $35 to $37.50. InvestingPro subscribers can access 5 additional key insights about Mid Penn Bancorp’s financial health and growth prospects.
In other recent news, Mid Penn Bancorp announced the launch of a new Executive Annual Incentive Plan aimed at enhancing the company’s profitability and growth. Approved by the Board of Directors, this plan is designed to align 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 achieving specific performance objectives, which are determined by the Compensation Committee of the Board. These objectives may include metrics such as net income, efficiency ratio, and tangible book value growth, among others. Additionally, the plan allows for discretionary bonuses, with maximums communicated alongside annual performance targets. Bonuses will be issued 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 includes recovery or clawback provisions in accordance 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.
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