Albert J. Evans, a director at Mid Penn Bancorp Inc (NASDAQ:MPB), acquired 311 shares of the bank's common stock on March 31, 2026, according to a Form 4 filing with the Securities and Exchange Commission. The shares were purchased at $32.16 each, for a total outlay of $10,001.
At the time of the filing, Mid Penn Bancorp's shares trade at a price-to-earnings ratio of 12.73 and have produced a 28.82% return over the trailing 12 months.
Following the purchase, Evans' reported holdings include a direct ownership position of 39,593.51 shares of Mid Penn Bancorp common stock. That figure incorporates shares obtained through the company's Dividend Reinvestment Plan. Evans also has an indirect stake of 1,280.285 shares held via a 401(k) account, and he owns 1,945 shares of Mid Penn Bancorp restricted common stock.
Investment analysis cited in the filing notes that, at current market levels, the stock appears undervalued. The company offers a 2.74% dividend yield and has a record of making dividend payments for 16 consecutive years, per the same analysis.
Recent corporate developments
Mid Penn Bancorp has reported a meaningful increase in profitability in its most recent quarter. Fourth-quarter net income rose 47% to $19.4 million, with earnings per share of $0.84 on a basic basis and $0.83 on a diluted basis. Those EPS figures matched analyst expectations.
The company has been active on the acquisition front. Mid Penn completed a $106.1 million acquisition of 1st Colonial Bancorp, folding 1st Colonial Community Bank into Mid Penn Bank. The filing states the merger received all necessary regulatory approvals and that 1st Colonial shareholders are scheduled to vote on the transaction in February 2026.
In a separate transaction, Mid Penn finalized its acquisition of Cumberland Advisors, which adds roughly $3.2 billion in assets under management to the firm's portfolio. Cumberland Advisors will continue to operate as a subsidiary under the name Cumberland Advisors, LLC.
On the executive front, Mid Penn Bank named Dana Stewart as its chief operating officer effective January 5, 2026. Stewart, who has more than 35 years of industry experience, will oversee the bank's loan and deposit operations.
What the transaction shows
The Form 4 filing documents the purchase and updates Evans' ownership totals across direct, indirect and restricted holdings. The filing and related disclosures also summarize recent operating results, strategic deals and leadership changes that accompany the insider purchase.