Kimberly J. Brumbaugh, a member of the board of directors at Mid Penn Bancorp, Inc. (NASDAQ: MPB), reported a purchase of 78 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 acquired at $32.16 apiece, bringing the total cost of the trade to $2,508.
At the time of this report the stock was trading at $32.41 and had a price-to-earnings ratio of 12.73. Analysis from InvestingPro included with the filing indicates the company may be trading below its Fair Value, according to that platform's valuation models.
Following the transaction, Brumbaugh's direct holdings in Mid Penn Bancorp amount to 10,561.753 shares of common stock. That total includes shares accumulated through the company's Dividend Reinvestment Plan. In addition to those direct holdings, she indirectly holds 1,140.84 shares via an individual retirement account, and she possesses 1,945 shares of restricted common stock.
Investor materials noted several corporate metrics and shareholder considerations. InvestingPro Tips cited that Mid Penn has paid dividends for 16 consecutive years and reported profitability over the last twelve months. The stock yields 2.74% and returned 28.82% over the past year, per the platform. The InvestingPro service also references additional proprietary tips and a suite of financial metrics for subscribers seeking deeper analysis.
Recent operational and financial developments
In other company news referenced alongside the director transaction, Mid Penn Bancorp reported a 47% increase in fourth-quarter earnings, with net income of $19.4 million. That result aligned with analyst expectations, with earnings per basic share reported at $0.84.
Mid Penn has also been active on the acquisition front. The bank completed its purchase of 1st Colonial Bancorp in a cash-and-stock transaction valued at approximately $106.1 million, folding 1st Colonial Community Bank into Mid Penn Bank. The filing also notes that the acquisition of 1st Colonial followed regulatory approvals for a merger valued at roughly $101 million and was subject to shareholder approval at the time.
Separately, Mid Penn finalized the acquisition of Cumberland Advisors, bringing about $3.2 billion in assets under management under Mid Penn’s control.
Leadership changes were disclosed as well. Dana Stewart was named chief operating officer of Mid Penn Bank effective January 5, 2026. Stewart will be responsible for overseeing loan and deposit operations and will report to President and CEO Rory Ritrievi.
What the filing shows - and what it does not
- The Form 4 documents the share purchase and updates Brumbaugh's direct and indirect holdings, but it does not provide commentary on the director's rationale for the purchase.
- Public disclosures link the insider transaction to a period in which the company reported stronger quarterly earnings, closed strategic deals, and made an executive appointment.
- Valuation commentary in the filing references InvestingPro's assessment that the stock is undervalued relative to its Fair Value as calculated by that service.
Those seeking to reconcile insider purchases with company strategy should note the filing provides transactional detail and ownership totals but does not include an explanation of intent from the director. Likewise, valuation statements included are identified as InvestingPro analysis and represent that service's models.