Jacobs Asset Management LLC Sells 50,000 Shares of Northpointe Bancshares, Inc. $NPB

Jacobs Asset Management LLC reduced its holdings in Northpointe Bancshares, Inc. (NYSE:NPB) by 10.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 425,000 shares of the company’s stock after selling 50,000 shares during the period. Northpointe Bancshares comprises about 4.4% of Jacobs Asset Management LLC’s holdings, making the stock its 7th largest holding. Jacobs Asset Management LLC’s holdings in Northpointe Bancshares were worth $7,336,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Pale Fire Capital SE acquired a new position in shares of Northpointe Bancshares in the 1st quarter valued at about $177,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Northpointe Bancshares during the first quarter worth approximately $172,000. Sei Investments Co. grew its position in Northpointe Bancshares by 165.2% during the first quarter. Sei Investments Co. now owns 50,117 shares of the company’s stock valued at $865,000 after purchasing an additional 31,220 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Northpointe Bancshares by 5.3% in the 1st quarter. Bank of New York Mellon Corp now owns 88,109 shares of the company’s stock valued at $1,521,000 after buying an additional 4,451 shares during the period. Finally, Hsbc Holdings PLC lifted its position in Northpointe Bancshares by 22.3% in the 1st quarter. Hsbc Holdings PLC now owns 80,507 shares of the company’s stock worth $1,385,000 after buying an additional 14,655 shares in the last quarter.

Insider Activity at Northpointe Bancshares

In related news, CEO Charles Alan Williams bought 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average cost of $17.21 per share, for a total transaction of $430,250.00. Following the purchase, the chief executive officer directly owned 2,312,650 shares in the company, valued at $39,800,706.50. This trade represents a 1.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Stevens Hooker sold 7,500 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $19.30, for a total transaction of $144,750.00. Following the transaction, the director owned 10,500 shares of the company’s stock, valued at approximately $202,650. The trade was a 41.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 22,500 shares of company stock valued at $410,141 over the last three months. 18.30% of the stock is owned by company insiders.

Northpointe Bancshares Trading Up 0.1%

Shares of NYSE:NPB opened at $17.23 on Friday. The company has a market cap of $595.95 million and a P/E ratio of 7.46. The stock’s 50-day moving average is $18.03 and its 200-day moving average is $17.82. Northpointe Bancshares, Inc. has a 52-week low of $14.25 and a 52-week high of $19.71. 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 (NYSE:NPB) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.08). Northpointe Bancshares had a return on equity of 15.10% and a net margin of 17.72%.The business had revenue of $64.32 million for the quarter. Equities research analysts predict that Northpointe Bancshares, Inc. will post 2.63 earnings per share for the current year.

Northpointe Bancshares Dividend Announcement

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

Wall Street Analyst Weigh In

NPB has been the topic of several research analyst reports. Keefe, Bruyette & Woods lowered their price target on shares of Northpointe Bancshares from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Thursday. Piper Sandler boosted their target price on shares of Northpointe Bancshares from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, July 2nd. Weiss Ratings restated a “sell (d)” rating on shares of Northpointe Bancshares in a research note on Friday, May 29th. Finally, 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 target on the stock. 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 company. Based on data from MarketBeat.com, Northpointe Bancshares has a consensus rating of “Hold” and a consensus target price of $20.62.

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.