Northpointe Bancshares, Inc. (NYSE:NPB) Raises Dividend to $0.03 Per Share

Northpointe Bancshares, Inc. (NYSE:NPB) declared a quarterly dividend on Tuesday, October 6th. Stockholders of record on Thursday, October 15th will be given a dividend of $0.03 per share on Wednesday, November 4th. This represents a $0.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Thursday, October 15th. This is a 20.0% increase from Northpointe Bancshares’s previous quarterly dividend of $0.0250.

Northpointe Bancshares Stock Up 1.5%

Shares of NYSE:NPB opened at $15.59 on Wednesday. The company has a market capitalization of $539.13 million, a price-to-earnings ratio of 6.75 and a beta of 0.16. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.40 and a quick ratio of 1.34. The business’s 50-day moving average is $16.69 and its 200-day moving average is $17.44. Northpointe Bancshares has a 1 year low of $14.20 and a 1 year high of $19.71.

Northpointe Bancshares (NYSE:NPB) last announced its earnings results on Tuesday, July 21st. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.08). Northpointe Bancshares had a net margin of 17.72% and a return on equity of 14.99%. The business had revenue of $64.32 million for the quarter. Equities research analysts predict that Northpointe Bancshares will post 2.48 earnings per share for the current year.

Insider Activity at Northpointe Bancshares

In other news, CEO Charles Williams bought 48,312 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The stock was acquired at an average cost of $16.95 per share, with a total value of $818,888.40. Following the transaction, the chief executive officer directly owned 2,390,962 shares of the company’s stock, valued at approximately $40,526,805.90. This represents a 2.06% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 18.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its holdings in shares of Northpointe Bancshares by 126.9% during the first quarter. Bank of America Corp DE now owns 215,544 shares of the company’s stock valued at $3,720,000 after acquiring an additional 120,554 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Northpointe Bancshares during the second quarter worth $1,756,000. Mendon Capital Advisors Corp raised its holdings in shares of Northpointe Bancshares by 86.4% in the 1st quarter. Mendon Capital Advisors Corp now owns 308,624 shares of the company’s stock worth $5,327,000 after acquiring an additional 143,010 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new stake in shares of Northpointe Bancshares in the 4th quarter worth about $965,000. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of Northpointe Bancshares in the 1st quarter worth about $1,515,000.

Northpointe Bancshares Company Profile

Northpointe Bancshares, Inc is a bank holding company headquartered in Grand Rapids, Michigan. It operates through Northpointe Bank, a financial institution focused on providing banking and lending services to consumers and businesses.

Northpointe Bank offers residential mortgage products, including loans for home purchases and refinancing, as well as home equity lending. Its deposit products include checking, savings, money market and certificate of deposit accounts. The bank also provides personal and commercial banking services designed to meet the borrowing, cash-management and deposit needs of individuals and businesses.

Through a combination of digital banking capabilities, mortgage lending channels and its physical banking presence, Northpointe serves customers in Michigan and markets across the United States.