Mid Penn Bancorp director Albert Evans buys $9,982 in shares

Albert J. Evans, a director at Mid Penn Bancorp Inc. (NASDAQ:MPB), purchased 282 shares of the company’s common stock on September 30, 2026. The shares were acquired at a price of $35.4 each, totaling $9,982. The purchase came as the stock trades at $36.04, with the company maintaining a market cap of $913 million. According to InvestingPro analysis, Mid Penn appears undervalued at current levels, trading at a P/E ratio of 12.75 while offering a dividend yield of 2.55%. InvestingPro Tips highlight that the company has maintained dividend payments for 16 consecutive years—one of 5 additional insights available to subscribers.

The purchase was made through the company’s Director Stock Purchase Plan.

Following this transaction, Mr. Evans directly holds 42,174.863 shares of Mid Penn Bancorp common stock. This balance includes shares acquired through the Dividend Reinvestment Plan. Additionally, he indirectly holds 1,280.285 shares through a 401(k) plan, which also reflects shares from the Dividend Reinvestment Plan.

Mr. Evans also holds 1,700 shares of Mid Penn Bancorp common restricted stock directly. These restricted shares are scheduled to vest 100% on the first anniversary of their grant date.

In other recent news, Piper Sandler has initiated coverage on Mid Penn Bancorp with an overweight rating, setting a price target of $42.00. The firm highlights projections of strong earnings growth for Mid Penn Bancorp, anticipating a 6.5% increase in 2025, 7.5% in 2026, and a substantial 19% growth in 2027. These expectations are tied to the integration of acquisitions and an increase in production by the company’s commercial teams. Piper Sandler’s positive outlook underscores the potential for Mid Penn Bancorp to capitalize on strategic initiatives in the coming years. Investors may find the projected growth figures particularly noteworthy as they consider the company’s future performance. This development reflects confidence from analysts regarding the bank’s ability to enhance its financial results.