Boothbay Fund Management LLC Purchases 44,315 Shares of Northpointe Bancshares, Inc. $NPB

Boothbay Fund Management LLC lifted its position in Northpointe Bancshares, Inc. (NYSE:NPB) by 28.0% during the third quarter, Holdings Channel reports. The institutional investor owned 202,765 shares of the company’s stock after buying an additional 44,315 shares during the quarter. Boothbay Fund Management LLC’s holdings in Northpointe Bancshares were worth $3,463,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Cubist Systematic Strategies LLC purchased a new position in 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 2nd quarter worth $33,000. State of Wyoming purchased a new position in Northpointe Bancshares during the 2nd quarter worth $54,000. Federated Hermes Inc. acquired a new position in Northpointe Bancshares during the 3rd quarter valued at about $82,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Northpointe Bancshares during the 2nd quarter valued at about $79,000.

Analyst Ratings Changes

NPB has been the subject of several recent analyst reports. Piper Sandler raised their price target on Northpointe Bancshares from $19.50 to $20.00 and gave the stock an “overweight” rating in a report on Monday, December 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Northpointe Bancshares in a research report on Monday, December 29th. One analyst has 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. Based on data from MarketBeat, Northpointe Bancshares currently has a consensus rating of “Hold” and an average target price of $19.63.

Insider Activity at Northpointe Bancshares

In related news, EVP Amy M. Butler sold 6,365 shares of the company’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $17.50, for a total value of $111,387.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Richard Jeffery Dean sold 57,619 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The stock was 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 of the company’s stock, valued at $9,778,351.05. This represents a 9.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 73,895 shares of company stock worth $1,301,197 over the last quarter. Insiders own 18.40% of the company’s stock.

Northpointe Bancshares Price Performance

NYSE NPB opened at $17.31 on Tuesday. The company has a market cap of $595.08 million and a price-to-earnings ratio of 8.28. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.39 and a quick ratio of 1.34. The stock’s fifty day moving average price is $17.79 and its 200 day moving average price is $17.42. Northpointe Bancshares, Inc. has a 1 year low of $11.43 and a 1 year high of $19.48.

Northpointe Bancshares (NYSE:NPB) last issued its quarterly earnings results on Tuesday, January 20th. The company reported $0.52 EPS 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 analyst estimates of $64.70 million. Northpointe Bancshares had a return on equity of 13.79% and a net margin of 17.70%.

Northpointe Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 3rd. Investors of record on Thursday, January 15th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Thursday, January 15th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.6%. Northpointe Bancshares’s payout ratio is 4.78%.

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.