Northpointe Bancshares, Inc. (NYSE:NPB) to Issue $0.03 Quarterly Dividend

Northpointe Bancshares, Inc. (NYSE:NPB) announced a quarterly dividend on Monday, July 6th. Investors of record on Wednesday, July 15th will be paid a dividend of 0.025 per share on Tuesday, August 4th. This represents a c) dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Wednesday, July 15th.

Northpointe Bancshares Stock Up 0.5%

NPB stock traded up $0.10 during trading on Tuesday, reaching $19.12. 3,393 shares of the company traded hands, compared to its average volume of 241,806. Northpointe Bancshares has a 12 month low of $13.66 and a 12 month high of $19.71. The business has a 50 day simple moving average of $17.76 and a 200 day simple moving average of $17.70. The company has a market capitalization of $661.24 million and a price-to-earnings ratio of 8.61. 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 earnings results on Tuesday, April 21st. The company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.04). The company had revenue of $63.42 million during the quarter. Northpointe Bancshares had a net margin of 17.92% and a return on equity of 14.80%. On average, equities research analysts anticipate that Northpointe Bancshares will post 2.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director David Stevens Hooker sold 7,500 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $17.82, for a total value of $133,650.00. Following the transaction, the director directly owned 11,500 shares of the company’s stock, valued at $204,930. This represents a 39.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles Alan Williams bought 25,000 shares of Northpointe Bancshares stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average price of $17.21 per share, with a total value 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. The trade was a 1.09% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders sold 22,500 shares of company stock valued at $410,141. Corporate insiders own 18.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NPB. Adage Capital Partners GP L.L.C. raised its position in shares of Northpointe Bancshares by 122.0% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,694,728 shares of the company’s stock worth $23,235,000 after acquiring an additional 931,240 shares during the period. Goldman Sachs Group Inc. purchased a new position in shares of Northpointe Bancshares in the 1st quarter valued at about $9,908,000. Vanguard Group Inc. raised its holdings in Northpointe Bancshares by 84.1% in the 3rd quarter. Vanguard Group Inc. now owns 1,063,156 shares of the company’s stock worth $18,159,000 after purchasing an additional 485,525 shares during the period. Millennium Management LLC raised its holdings in Northpointe Bancshares by 462.4% in the 3rd quarter. Millennium Management LLC now owns 373,891 shares of the company’s stock worth $6,386,000 after purchasing an additional 307,409 shares during the period. Finally, Mendon Capital Advisors Corp boosted its position in Northpointe Bancshares by 86.4% during the first quarter. Mendon Capital Advisors Corp now owns 308,624 shares of the company’s stock worth $5,327,000 after purchasing an additional 143,010 shares in the last quarter.

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.