Sei Investments Co. Boosts Stake in Northpointe Bancshares, Inc. $NPB

Sei Investments Co. grew its position in shares of Northpointe Bancshares, Inc. (NYSE:NPB) by 165.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 50,117 shares of the company’s stock after acquiring an additional 31,220 shares during the period. Sei Investments Co.’s holdings in Northpointe Bancshares were worth $865,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of NPB. Bank of New York Mellon Corp grew its holdings in shares of Northpointe Bancshares by 5.3% during the 1st quarter. Bank of New York Mellon Corp now owns 88,109 shares of the company’s stock worth $1,521,000 after purchasing an additional 4,451 shares during the period. Hsbc Holdings PLC increased its position in Northpointe Bancshares by 22.3% during the 1st quarter. Hsbc Holdings PLC now owns 80,507 shares of the company’s stock worth $1,385,000 after purchasing an additional 14,655 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Northpointe Bancshares in the first quarter valued at approximately $361,000. Strs Ohio raised its holdings in Northpointe Bancshares by 640.0% in the first quarter. Strs Ohio now owns 14,800 shares of the company’s stock valued at $255,000 after buying an additional 12,800 shares during the period. Finally, Sterling Capital Management LLC lifted its position in Northpointe Bancshares by 1,109.6% during the first quarter. Sterling Capital Management LLC now owns 14,310 shares of the company’s stock valued at $247,000 after buying an additional 13,127 shares in the last quarter.

Northpointe Bancshares Stock Performance

Northpointe Bancshares stock opened at $17.41 on Friday. The firm has a market capitalization of $602.04 million, a PE ratio of 7.54 and a beta of 0.07. Northpointe Bancshares, Inc. has a one year low of $15.42 and a one year high of $19.71. The stock’s 50 day moving average price is $18.01 and its 200 day moving average price is $17.75. The company has a debt-to-equity ratio of 2.96, a quick ratio of 1.38 and a current ratio of 1.44.

Northpointe Bancshares (NYSE:NPB) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.08). The firm had revenue of $64.32 million during the quarter. Northpointe Bancshares had a net margin of 17.72% and a return on equity of 15.10%. As a group, sell-side analysts expect that Northpointe Bancshares, Inc. will post 2.48 EPS for the current fiscal year.

Northpointe Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 4th. Stockholders of record on Wednesday, July 15th were paid a $0.025 dividend. The ex-dividend date was Wednesday, July 15th. This represents a $0.10 annualized dividend and a dividend yield of 0.6%. Northpointe Bancshares’s dividend payout ratio is 4.33%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Piper Sandler boosted their price objective on shares of Northpointe Bancshares from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, July 2nd. Keefe, Bruyette & Woods cut their target price on shares of Northpointe Bancshares from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Thursday, July 23rd. Zacks Research lowered shares of Northpointe Bancshares from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Northpointe Bancshares in a research report on Friday, May 29th. Finally, Brean Capital assumed coverage on shares of Northpointe Bancshares in a research report on Wednesday, April 22nd. They set a “neutral” rating and a $20.25 price target for the company. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $20.62.

Insider Buying and Selling at Northpointe Bancshares

In related news, Director David Stevens Hooker sold 7,500 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $19.30, for a total transaction of $144,750.00. Following the completion of the sale, the director directly owned 10,500 shares of the company’s stock, valued at approximately $202,650. This trade represents a 41.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 15,000 shares of company stock valued at $276,491 in the last ninety days. 18.30% of the stock is currently owned by corporate insiders.

Northpointe Bancshares Profile

Northpointe Bancshares, Inc is the bank holding company for Northpointe Bank, an FDIC-insured community bank based in Michigan. The company offers a full range of commercial and consumer banking solutions, serving retail, small business and corporate clients through both a physical branch network and digital platforms.

Northpointe Bank’s product suite includes interest-bearing checking and savings accounts, money market and certificate of deposit offerings, as well as residential mortgage lending, home equity financing and unsecured consumer loans.