Wellington Management Group LLP Sells 856,258 Shares of Northpointe Bancshares, Inc. $NPB

Wellington Management Group LLP reduced its position in shares of Northpointe Bancshares, Inc. (NYSE:NPB) by 19.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,651,674 shares of the company’s stock after selling 856,258 shares during the period. Wellington Management Group LLP owned approximately 0.11% of Northpointe Bancshares worth $70,039,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Cubist Systematic Strategies LLC bought a new position in shares of Northpointe Bancshares in the 1st quarter valued at $26,000. State of Wyoming acquired a new stake in Northpointe Bancshares in the second quarter valued at about $54,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Northpointe Bancshares in the second quarter valued at about $79,000. Police & Firemen s Retirement System of New Jersey grew its position in Northpointe Bancshares by 131.2% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 5,524 shares of the company’s stock valued at $93,000 after acquiring an additional 3,135 shares during the last quarter. Finally, New York State Common Retirement Fund acquired a new position in Northpointe Bancshares during the second quarter worth about $97,000.

Northpointe Bancshares Stock Performance

NYSE:NPB opened at $16.87 on Thursday. The stock has a market cap of $583.54 million, a P/E ratio of 7.30 and a beta of 0.05. The company has a current ratio of 1.40, a quick ratio of 1.34 and a debt-to-equity ratio of 2.66. The stock’s 50-day moving average is $17.77 and its 200-day moving average is $17.72. Northpointe Bancshares, Inc. has a 1-year low of $15.42 and a 1-year high of $19.71.

Northpointe Bancshares (NYSE:NPB) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter. Equities research analysts anticipate that Northpointe Bancshares, Inc. will post 2.48 earnings per share for the current year.

Northpointe Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 4th. Shareholders of record on Wednesday, July 15th were given a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.6%. The ex-dividend date was Wednesday, July 15th. Northpointe Bancshares’s dividend payout ratio is 4.33%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NPB. Zacks Research downgraded shares of Northpointe Bancshares from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Piper Sandler increased their price objective on shares of Northpointe Bancshares from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, July 2nd. Weiss Ratings restated a “sell (d)” rating on shares of Northpointe Bancshares in a research report on Wednesday, August 26th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Northpointe Bancshares from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Northpointe Bancshares has a consensus rating of “Hold” and a consensus target price of $21.08.

Insider Buying and Selling at Northpointe Bancshares

In related news, Director David Stevens Hooker sold 7,500 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $19.30, for a total value of $144,750.00. Following the completion of the sale, the director directly owned 10,500 shares in the company, valued at $202,650. This represents a 41.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 48,312 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were bought at an average cost of $16.95 per share, with a total value of $818,888.40. Following the completion of the transaction, the chief executive officer owned 2,390,962 shares in the company, valued at $40,526,805.90. The trade was a 2.06% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold 11,647 shares of company stock valued at $217,813 in the last ninety days. Insiders own 18.30% of the company’s stock.

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.