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

Key Points

• Northpointe Bancshares raised its quarterly dividend 20% to $0.03 per share, payable November 4 to shareholders of record on October 15. The annualized dividend is $0.12, representing a 0.8% yield.
• The company’s latest quarterly earnings missed expectations, with EPS of $0.60 versus the $0.68 consensus estimate, despite revenue of $64.32 million. Analysts forecast full-year EPS of $2.48.
• CEO Charles Williams purchased 48,312 shares worth approximately $818,888, increasing his ownership by 2.06%; insiders collectively own 18.3% of the company.

Northpointe Bancshares, Inc. (NYSE:NPB - Get Free Report) declared a quarterly dividend on Tuesday, October 6th. Shareholders 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 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, October 15th. This is a 20.0% increase from Northpointe Bancshares's previous quarterly dividend of $0.0250.

Northpointe Bancshares Trading Up 1.5%

Shares of NYSE:NPB opened at $15.59 on Wednesday. The stock's 50-day simple moving average is $16.69 and its two-hundred day simple moving average is $17.44. The stock has a market capitalization of $539.13 million, a price-to-earnings ratio of 6.75 and a beta of 0.16. Northpointe Bancshares has a 52-week low of $14.20 and a 52-week high of $19.71. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.34 and a current ratio of 1.40.

Northpointe Bancshares (NYSE:NPB - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.08). The business had revenue of $64.32 million during the quarter. Northpointe Bancshares had a return on equity of 14.99% and a net margin of 17.72%. Analysts expect that Northpointe Bancshares will post 2.48 EPS for the current year.

Insider Buying and Selling

In other news, CEO Charles Williams purchased 48,312 shares of the stock in a transaction on Wednesday, August 26th. The shares were acquired at an average price of $16.95 per share, with a total value of $818,888.40. Following the completion of the acquisition, the chief executive officer directly owned 2,390,962 shares of the company's stock, valued at $40,526,805.90. This trade represents a 2.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 18.30% of the company's stock.

Hedge Funds Weigh In On Northpointe Bancshares

Several large investors have recently made changes to their positions in the business. WINTON GROUP Ltd bought a new position in shares of Northpointe Bancshares during the second quarter worth $218,000. Squarepoint Ops LLC purchased a new stake in Northpointe Bancshares during the second quarter valued at approximately $765,000. Pale Fire Capital SE lifted its position in Northpointe Bancshares by 29.2% in the second quarter. Pale Fire Capital SE now owns 13,258 shares of the company's stock worth $254,000 after buying an additional 3,000 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Northpointe Bancshares in the 2nd quarter worth about $191,000. Finally, Bank of New York Mellon Corp bought a new stake in Northpointe Bancshares in the second quarter worth about $1,756,000.

About Northpointe Bancshares

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.