North Reef Capital Management LP Sells 317,592 Shares of Northpointe Bancshares, Inc. $NPB

North Reef Capital Management LP cut its position in Northpointe Bancshares, Inc. (NYSE:NPB) by 52.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 283,752 shares of the company’s stock after selling 317,592 shares during the period. North Reef Capital Management LP owned about 0.83% of Northpointe Bancshares worth $4,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Cubist Systematic Strategies LLC purchased a new stake in Northpointe Bancshares in the 1st quarter worth $26,000. Police & Firemen s Retirement System of New Jersey bought a new stake in Northpointe Bancshares during the 2nd quarter valued at approximately $33,000. State of Wyoming bought a new position in Northpointe Bancshares in the 2nd quarter worth approximately $54,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Northpointe Bancshares during the 2nd quarter valued at approximately $79,000. Finally, Federated Hermes Inc. bought a new stake in shares of Northpointe Bancshares during the third quarter valued at approximately $82,000.

Northpointe Bancshares Stock Performance

Shares of Northpointe Bancshares stock opened at $17.31 on Tuesday. The company has a market capitalization of $595.08 million and a PE ratio of 8.28. The company has a 50-day simple moving average of $17.79 and a two-hundred day simple moving average of $17.42. Northpointe Bancshares, Inc. has a one year low of $11.43 and a one year high of $19.48. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.34 and a current ratio of 1.39.

Northpointe Bancshares (NYSE:NPB) last issued its quarterly earnings data on Tuesday, January 20th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.08). The firm had revenue of $65.14 million during the quarter, compared to analysts’ expectations 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 declared a quarterly dividend, which was paid on Tuesday, February 3rd. Shareholders of record on Thursday, January 15th were issued a $0.025 dividend. 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 payout ratio is currently 4.78%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Northpointe Bancshares in a research note on Monday, December 29th. Piper Sandler lifted their target price on Northpointe Bancshares from $19.50 to $20.00 and gave the stock an “overweight” rating in a report on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $19.63.

Insider Transactions at Northpointe Bancshares

In other news, EVP Amy M. Butler sold 9,911 shares of the company’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $18.02, for a total transaction of $178,596.22. Following the transaction, the executive vice president directly owned 6,365 shares of the company’s stock, valued at approximately $114,697.30. This represents a 60.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Charles Alan Williams acquired 23,450 shares of the firm’s stock in a transaction dated Thursday, February 12th. The shares were acquired at an average price of $16.88 per share, with a total value of $395,836.00. Following the acquisition, the chief executive officer owned 54,896 shares in the company, valued at approximately $926,644.48. The trade was a 74.57% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have sold 73,895 shares of company stock valued at $1,301,197. Corporate insiders own 18.40% of the company’s stock.

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.