Northpointe Bancshares, Inc. $NPB Shares Acquired by Mendon Capital Advisors Corp

Mendon Capital Advisors Corp lifted its position in Northpointe Bancshares, Inc. (NYSE:NPB) by 86.4% during the 1st quarter, Holdings Channel.com reports. The fund owned 308,624 shares of the company’s stock after acquiring an additional 143,010 shares during the period. Northpointe Bancshares accounts for 1.5% of Mendon Capital Advisors Corp’s investment portfolio, making the stock its 24th biggest holding. Mendon Capital Advisors Corp’s holdings in Northpointe Bancshares were worth $5,327,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC purchased a new stake in Northpointe Bancshares during the 1st quarter valued at about $26,000. State of Alaska Department of Revenue acquired a new stake in Northpointe Bancshares during the 4th quarter worth about $40,000. State of Wyoming acquired a new position in shares of Northpointe Bancshares in the 2nd quarter valued at about $54,000. Police & Firemen s Retirement System of New Jersey boosted its position in Northpointe Bancshares by 131.2% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 5,524 shares of the company’s stock worth $93,000 after purchasing an additional 3,135 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Northpointe Bancshares during the 2nd quarter worth approximately $79,000.

Wall Street Analysts Forecast Growth

NPB has been the subject of several analyst reports. Brean Capital began coverage on shares of Northpointe Bancshares in a research note on Wednesday, April 22nd. They issued a “neutral” rating and a $20.25 target price for the company. Keefe, Bruyette & Woods decreased their price objective on shares of Northpointe Bancshares from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Thursday. Piper Sandler increased their target price 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. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Northpointe Bancshares in a research note on Friday, May 29th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.62.

Northpointe Bancshares Price Performance

Northpointe Bancshares stock opened at $17.23 on Monday. The stock has a market capitalization of $595.95 million and a P/E ratio of 7.46. The company’s fifty day moving average price is $18.03 and its 200 day moving average price is $17.82. 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, Inc. has a 1 year low of $14.25 and a 1 year high of $19.71.

Northpointe Bancshares (NYSE:NPB) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.08). The company had revenue of $64.32 million for the quarter. Northpointe Bancshares had a return on equity of 15.10% and a net margin of 17.72%. As a group, equities research analysts anticipate that Northpointe Bancshares, Inc. will post 2.63 earnings per share for the current fiscal year.

Northpointe Bancshares Announces Dividend

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

Insider Buying and Selling

In other news, CEO Charles Alan Williams bought 25,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average price of $17.21 per share, for a total transaction of $430,250.00. Following the completion of the transaction, the chief executive officer directly owned 2,312,650 shares in the company, valued at $39,800,706.50. The trade was a 1.09% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David Stevens Hooker sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $17.82, for a total value of $133,650.00. Following the completion of the transaction, the director owned 11,500 shares in the company, valued at approximately $204,930. This trade represents a 39.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 22,500 shares of company stock valued at $410,141 in the last three months. Insiders own 18.30% of the company’s stock.

About Northpointe Bancshares

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.