Zhang Financial LLC Acquires New Shares in Northpointe Bancshares, Inc. $NPB

Zhang Financial LLC bought a new stake in Northpointe Bancshares, Inc. (NYSE:NPB) in the second quarter, HoldingsChannel reports. The fund bought 100,920 shares of the company’s stock, valued at approximately $1,384,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NPB. Charles Schwab Investment Management Inc. acquired a new position in Northpointe Bancshares in the first quarter valued at about $829,000. Russell Investments Group Ltd. acquired a new position in Northpointe Bancshares in the first quarter valued at about $2,055,000. Persistent Asset Partners Ltd acquired a new position in Northpointe Bancshares in the first quarter valued at about $941,000. Boston Partners acquired a new position in Northpointe Bancshares in the first quarter valued at about $454,000. Finally, American Century Companies Inc. acquired a new position in Northpointe Bancshares in the first quarter valued at about $7,081,000.

Insider Activity

In other news, Director David Stevens Hooker sold 65,161 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $18.21, for a total value of $1,186,581.81. Following the completion of the sale, the director directly owned 834,879 shares of the company’s stock, valued at $15,203,146.59. This trade represents a 7.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 18.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on NPB. Weiss Ratings reissued a “sell (e+)” rating on shares of Northpointe Bancshares in a research note on Wednesday, October 8th. Piper Sandler increased their price objective on Northpointe Bancshares from $17.50 to $19.50 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Finally, Janney Montgomery Scott started coverage on Northpointe Bancshares in a report on Thursday, August 28th. They set a “neutral” rating and a $19.25 price objective for the company. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $18.92.

Northpointe Bancshares Stock Down 0.3%

NPB stock opened at $16.50 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 2.16. The business has a 50 day moving average price of $17.55 and a two-hundred day moving average price of $15.25. The company has a market cap of $567.00 million and a price-to-earnings ratio of 16.50. Northpointe Bancshares, Inc. has a twelve month low of $11.43 and a twelve month high of $18.85.

Northpointe Bancshares (NYSE:NPB) last posted its quarterly earnings results on Tuesday, October 21st. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. The company had revenue of $64.36 million during the quarter, compared to the consensus estimate of $62.17 million.

Northpointe Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Wednesday, October 15th will be paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Wednesday, October 15th. Northpointe Bancshares’s dividend payout ratio (DPR) is currently 10.00%.

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.