Boston Partners Grows Stake in Northpointe Bancshares, Inc. $NPB

Boston Partners lifted its stake in shares of Northpointe Bancshares, Inc. (NYSE:NPB) by 23.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,684 shares of the company’s stock after purchasing an additional 7,241 shares during the period. Boston Partners owned 0.11% of Northpointe Bancshares worth $530,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of NPB. Cubist Systematic Strategies LLC purchased a new position in Northpointe Bancshares in the first quarter valued at approximately $26,000. Jane Street Group LLC bought a new stake in shares of Northpointe Bancshares in the first quarter valued at $146,000. Charles Schwab Investment Management Inc. purchased a new position in shares of Northpointe Bancshares during the 1st quarter valued at $829,000. Persistent Asset Partners Ltd bought a new position in shares of Northpointe Bancshares during the 1st quarter worth $941,000. Finally, Zhang Financial LLC bought a new position in shares of Northpointe Bancshares during the 2nd quarter worth $1,384,000.

Northpointe Bancshares Stock Up 1.5%

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

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

Northpointe Bancshares Announces Dividend

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

Insider Buying and Selling

In other news, Director David Stevens Hooker sold 65,161 shares of the business’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $18.21, for a total transaction of $1,186,581.81. Following the completion of the transaction, the director directly owned 834,879 shares in the company, valued at $15,203,146.59. The trade was a 7.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 18.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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