Mendon Capital Advisors Corp Increases Holdings in Northpointe Bancshares, Inc. $NPB

Mendon Capital Advisors Corp increased its position in Northpointe Bancshares, Inc. (NYSE:NPB) by 86.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 308,624 shares of the company’s stock after purchasing an additional 143,010 shares during the quarter. Northpointe Bancshares makes up about 1.5% of Mendon Capital Advisors Corp’s portfolio, making the stock its 24th biggest position. Mendon Capital Advisors Corp owned approximately 0.89% of Northpointe Bancshares worth $5,327,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Boston Partners grew its position in shares of Northpointe Bancshares by 1.5% during the 4th quarter. Boston Partners now owns 41,577 shares of the company’s stock worth $698,000 after buying an additional 634 shares in the last quarter. Engineers Gate Manager LP raised its holdings in shares of Northpointe Bancshares by 2.0% in the fourth quarter. Engineers Gate Manager LP now owns 39,289 shares of the company’s stock valued at $659,000 after acquiring an additional 772 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Northpointe Bancshares by 2.5% in the fourth quarter. First Trust Advisors LP now owns 32,593 shares of the company’s stock valued at $547,000 after acquiring an additional 790 shares in the last quarter. SG Americas Securities LLC lifted its stake in Northpointe Bancshares by 11.7% in the fourth quarter. SG Americas Securities LLC now owns 14,236 shares of the company’s stock worth $239,000 after acquiring an additional 1,489 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in Northpointe Bancshares in the first quarter worth about $26,000.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. 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 report on Thursday. Weiss Ratings reiterated a “sell (d)” rating on shares of Northpointe Bancshares in a research note on Friday, May 29th. Brean Capital started coverage on shares of Northpointe Bancshares in a report on Wednesday, April 22nd. They set a “neutral” rating and a $20.25 price objective on the stock. Finally, 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. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Northpointe Bancshares presently has a consensus rating of “Hold” and an average price target of $20.62.

Northpointe Bancshares Price Performance

NPB opened at $17.23 on Monday. The firm has a market capitalization of $595.95 million and a PE ratio of 7.46. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.44 and a quick ratio of 1.38. The business’s 50-day moving average is $18.03 and its two-hundred day moving average is $17.82. Northpointe Bancshares, Inc. has a 1 year low of $14.25 and a 1 year high of $19.71.

Northpointe Bancshares (NYSE:NPB) last released its quarterly earnings results 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 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%. Research analysts anticipate that Northpointe Bancshares, Inc. will post 2.63 earnings per share for the current fiscal year.

Northpointe Bancshares Dividend Announcement

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

Insider Buying and Selling at Northpointe Bancshares

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

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.