Maltese Capital Management LLC Reduces Stock Position in Northpointe Bancshares, Inc. $NPB

Maltese Capital Management LLC trimmed its position in Northpointe Bancshares, Inc. (NYSE:NPB) by 34.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 380,800 shares of the company’s stock after selling 204,200 shares during the period. Maltese Capital Management LLC owned 1.11% of Northpointe Bancshares worth $6,504,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Cubist Systematic Strategies LLC purchased a new stake in shares of Northpointe Bancshares in the first quarter worth $26,000. Police & Firemen s Retirement System of New Jersey purchased a new position in Northpointe Bancshares during the second quarter worth about $33,000. State of Wyoming bought a new position in Northpointe Bancshares in the 2nd quarter worth about $54,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Northpointe Bancshares in the 2nd quarter worth about $79,000. Finally, Federated Hermes Inc. purchased a new stake in shares of Northpointe Bancshares in the 3rd quarter valued at about $82,000.

Wall Street Analysts Forecast Growth

NPB has been the subject of several recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Northpointe Bancshares in a report on Monday, December 29th. Piper Sandler lifted their target price on shares of Northpointe Bancshares from $19.50 to $20.00 and gave the company an “overweight” rating in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Northpointe Bancshares currently has a consensus rating of “Hold” and a consensus price target of $19.63.

Northpointe Bancshares Trading Down 1.3%

Shares of NPB stock opened at $17.31 on Tuesday. The business has a 50-day moving average price of $17.79 and a two-hundred day moving average price of $17.42. Northpointe Bancshares, Inc. has a 12-month low of $11.43 and a 12-month high of $19.48. The company has a quick ratio of 1.34, a current ratio of 1.39 and a debt-to-equity ratio of 2.24. The firm has a market cap of $595.08 million and a P/E ratio of 8.28.

Northpointe Bancshares (NYSE:NPB) last announced its quarterly earnings data on Tuesday, January 20th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.08). The firm had revenue of $65.14 million for the quarter, compared to analysts’ expectations of $64.70 million. Northpointe Bancshares had a net margin of 17.70% and a return on equity of 13.79%.

Northpointe Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 3rd. Shareholders of record on Thursday, January 15th were paid a dividend of $0.025 per share. The ex-dividend date of this dividend was Thursday, January 15th. This represents a $0.10 annualized dividend and a dividend yield of 0.6%. Northpointe Bancshares’s dividend payout ratio (DPR) is 4.78%.

Insider Transactions at Northpointe Bancshares

In other Northpointe Bancshares news, CEO Charles Alan Williams acquired 23,450 shares of the business’s stock in a transaction dated Thursday, February 12th. The stock was bought at an average price of $16.88 per share, with a total value of $395,836.00. Following the purchase, the chief executive officer owned 54,896 shares of the company’s stock, valued at approximately $926,644.48. This trade represents a 74.57% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard Jeffery Dean sold 57,619 shares of the stock in a transaction on Monday, March 9th. The shares were sold at an average price of $17.55, for a total transaction of $1,011,213.45. Following the transaction, the director directly owned 557,171 shares in the company, valued at approximately $9,778,351.05. This represents a 9.37% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 73,895 shares of company stock worth $1,301,197. 18.40% of the stock is currently owned by insiders.

Northpointe Bancshares Company 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.