Boothbay Fund Management LLC Grows Position in Northpointe Bancshares, Inc. $NPB

Boothbay Fund Management LLC boosted its position in shares of Northpointe Bancshares, Inc. (NYSE:NPB) by 28.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 202,765 shares of the company’s stock after purchasing an additional 44,315 shares during the period. Boothbay Fund Management LLC owned about 0.59% of Northpointe Bancshares worth $3,463,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Cubist Systematic Strategies LLC purchased a new position in shares of Northpointe Bancshares during the first quarter valued at approximately $26,000. Goldman Sachs Group Inc. bought a new position in Northpointe Bancshares in the 1st quarter valued at $9,908,000. Jane Street Group LLC purchased a new stake in Northpointe Bancshares in the first quarter worth $146,000. Geode Capital Management LLC increased its stake in Northpointe Bancshares by 138.9% in the second quarter. Geode Capital Management LLC now owns 234,789 shares of the company’s stock worth $3,220,000 after purchasing an additional 136,490 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Northpointe Bancshares during the second quarter worth $33,000.

Analyst Upgrades and Downgrades

NPB has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Northpointe Bancshares in a research note on Monday, December 29th. Piper Sandler boosted their price objective 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 equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $19.63.

Northpointe Bancshares Price Performance

Shares of NPB stock opened at $17.31 on Tuesday. Northpointe Bancshares, Inc. has a twelve month low of $11.43 and a twelve month high of $19.48. The stock has a market capitalization of $595.08 million and a price-to-earnings ratio of 8.28. The stock has a fifty day simple moving average of $17.79 and a two-hundred day simple moving average of $17.42. The company has a current ratio of 1.39, a quick ratio of 1.34 and a debt-to-equity ratio of 2.24.

Northpointe Bancshares (NYSE:NPB) last announced its quarterly earnings results on Tuesday, January 20th. The company reported $0.52 EPS for the quarter, missing the consensus estimate 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 disclosed 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. This represents a $0.10 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Thursday, January 15th. Northpointe Bancshares’s dividend payout ratio (DPR) is presently 4.78%.

Insider Activity at Northpointe Bancshares

In related news, CEO Charles Alan Williams purchased 23,450 shares of the business’s stock in a transaction dated Thursday, February 12th. The shares were acquired at an average cost of $16.88 per share, for a total transaction of $395,836.00. Following the acquisition, the chief executive officer owned 54,896 shares of the company’s stock, valued at $926,644.48. The trade was a 74.57% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Amy M. Butler sold 9,911 shares of the business’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $18.02, for a total value of $178,596.22. Following the completion of the transaction, the executive vice president directly owned 6,365 shares of the company’s stock, valued at approximately $114,697.30. The trade was a 60.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 73,895 shares of company stock valued at $1,301,197 over the last ninety days. 18.40% of the stock is owned by company insiders.

About Northpointe Bancshares

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.