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Matthew G. De Soto, a director at Mid Penn Bancorp Inc. (NASDAQ:MPB), recently expanded his holdings in the company. According to a recent SEC filing, De Soto purchased a total of 1,928 shares of Mid Penn Bancorp common stock on June 5, 2025. The purchase was made at prices ranging from $25.885 to $25.9374 per share, amounting to a total transaction value of approximately $49,962. The stock, currently trading at $26.17, appears slightly undervalued according to InvestingPro analysis, with a P/E ratio of 9.12 and an attractive dividend yield of 3.08%.
Following these transactions, De Soto’s direct ownership in the company increased to 112,070.59 shares. Additionally, he holds 3,327 shares indirectly by PUTMA for Children and 78 shares by L T D Investments. The filing also notes that De Soto owns 1,945 shares of restricted stock, which are set to vest fully on the first anniversary of the grant date. This insider purchase comes as Mid Penn Bancorp, with a market capitalization of $510 million, maintains its 15-year streak of consistent dividend payments. InvestingPro subscribers can access additional insights and metrics about MPB’s financial health and valuation.
In other recent news, Mid Penn Bancorp reported its first-quarter earnings for 2025, showing net income available to common shareholders at $13.7 million, or $0.71 per diluted common share, surpassing analyst estimates of $0.63 per share. The company also increased its net interest margin to 3.37%, up from 2.97% in the same period last year. Additionally, Mid Penn Bancorp announced a cash dividend of $0.20 per common share, marking its 58th consecutive quarterly dividend. In merger news, the company is set to finalize its merger with William Penn Bancorporation by the end of April 2025, with all necessary regulatory and shareholder approvals secured. This merger is expected to expand Mid Penn’s presence in the Greater Philadelphia Metro market and other regions. Shareholders of both companies showed overwhelming support for the merger, with over 96% of William Penn shares and more than 98% of Mid Penn shares voting in favor. Furthermore, Mid Penn Bancorp held its Annual Meeting of Shareholders, where several key proposals, including the election of directors and advisory votes on executive compensation, received strong approval. Lastly, shareholders ratified the appointment of RSM US LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025.
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