EJF Capital LLC Purchases New Holdings in Northpointe Bancshares, Inc. $NPB

Key Points

• EJF Capital LLC acquired 258,933 shares of Northpointe Bancshares, Inc., valued at approximately $3,739,000, making it the company's 12th biggest holding.
• Northpointe Bancshares recently declared a quarterly dividend of $0.025 per share, representing an annualized yield of 0.6%.
• Analysts have rated Northpointe Bancshares as a Moderate Buy with a consensus price target of $18.25, indicating positive sentiment among research firms.

EJF Capital LLC acquired a new position in shares of Northpointe Bancshares, Inc. (NYSE:NPB - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 258,933 shares of the company's stock, valued at approximately $3,739,000. Northpointe Bancshares accounts for approximately 2.4% of EJF Capital LLC's portfolio, making the stock its 12th biggest holding. EJF Capital LLC owned 0.85% of Northpointe Bancshares at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NPB. Wellington Management Group LLP purchased a new stake in shares of Northpointe Bancshares during the 1st quarter worth about $47,534,000. Adage Capital Partners GP L.L.C. bought a new position in shares of Northpointe Bancshares in the 1st quarter valued at approximately $11,025,000. Jacobs Asset Management LLC bought a new position in shares of Northpointe Bancshares in the 1st quarter valued at approximately $8,998,000. American Century Companies Inc. bought a new position in shares of Northpointe Bancshares in the 1st quarter valued at approximately $7,081,000. Finally, Curi RMB Capital LLC bought a new position in shares of Northpointe Bancshares in the 1st quarter valued at approximately $2,889,000.

Northpointe Bancshares Stock Up 0.2%

Shares of NPB traded up $0.04 during trading hours on Tuesday, hitting $18.04. 42,259 shares of the stock traded hands, compared to its average volume of 143,438. Northpointe Bancshares, Inc. has a 1-year low of $11.43 and a 1-year high of $18.78. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 2.16. The business has a fifty day moving average of $15.76 and a 200-day moving average of $14.38.

Northpointe Bancshares (NYSE:NPB - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. The company had revenue of $58.96 million for the quarter, compared to the consensus estimate of $56.92 million.

Northpointe Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 4th. Shareholders of record on Tuesday, July 15th were given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Tuesday, July 15th.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NPB. Piper Sandler lifted their price target on Northpointe Bancshares from $16.50 to $17.50 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Janney Montgomery Scott began coverage on Northpointe Bancshares in a research report on Thursday, August 28th. They issued a "neutral" rating and a $19.25 price target on the stock. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Northpointe Bancshares currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.25.

Northpointe Bancshares Company Profile

Northpointe Bancshares, Inc operates as a bank holding company. It offers a nationwide mortgage purchase program, residential mortgage loans, digital deposit banking to retail customers and custodial deposit services. The company was founded by Charles A. Williams in 1998 and is headquartered in Grand Rapids, MI.