Persistent Asset Partners Ltd Has $322,000 Stock Position in Northpointe Bancshares, Inc. $NPB

Persistent Asset Partners Ltd lowered its position in Northpointe Bancshares, Inc. (NYSE:NPB) by 64.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,475 shares of the company’s stock after selling 41,721 shares during the period. Persistent Asset Partners Ltd’s holdings in Northpointe Bancshares were worth $322,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. bought a new stake in shares of Northpointe Bancshares in the first quarter worth about $829,000. Russell Investments Group Ltd. acquired a new position in shares of Northpointe Bancshares in the 1st quarter valued at approximately $2,055,000. Boston Partners bought a new stake in Northpointe Bancshares during the 1st quarter worth approximately $454,000. American Century Companies Inc. bought a new stake in Northpointe Bancshares during the 1st quarter worth approximately $7,081,000. Finally, Wellington Management Group LLP acquired a new stake in Northpointe Bancshares during the 1st quarter worth approximately $47,534,000.

Insider Buying and Selling

In other Northpointe Bancshares news, Director David Stevens Hooker sold 65,161 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $18.21, for a total value of $1,186,581.81. Following the sale, the director owned 834,879 shares in the company, valued at $15,203,146.59. This represents a 7.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 18.40% of the company’s stock.

Northpointe Bancshares Price Performance

NYSE:NPB opened at $16.75 on Friday. Northpointe Bancshares, Inc. has a 52-week low of $11.43 and a 52-week high of $18.85. The company has a market cap of $575.53 million and a P/E ratio of 10.67. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.32 and a current ratio of 1.39. The stock’s 50-day simple moving average is $17.14 and its 200 day simple moving average is $15.54.

Northpointe Bancshares (NYSE:NPB) last posted its quarterly earnings results on Tuesday, October 21st. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.01. The firm had revenue of $64.36 million for the quarter, compared to analyst estimates of $62.17 million. Northpointe Bancshares had a return on equity of 12.43% and a net margin of 16.09%.

Northpointe Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Wednesday, October 15th were paid a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.6%. The ex-dividend date was Wednesday, October 15th. Northpointe Bancshares’s dividend payout ratio (DPR) is 6.37%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Janney Montgomery Scott initiated coverage on shares of Northpointe Bancshares in a report on Thursday, August 28th. They set a “neutral” rating and a $19.25 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Northpointe Bancshares in a research note on Thursday. Finally, Piper Sandler boosted their price target on Northpointe Bancshares from $17.50 to $19.50 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $18.92.

About Northpointe Bancshares

Northpointe Bancshares, Inc operates as a bank holding company. It offers a nationwide mortgage purchase program, residential mortgage loans, digital deposit banking to retail customers and custodial deposit services. The company was founded by Charles A. Williams in 1998 and is headquartered in Grand Rapids, MI.