American Century Companies Inc. Takes Position in Northpointe Bancshares, Inc. $NPB

Key Points

• American Century Companies Inc. recently acquired 490,405 shares of Northpointe Bancshares worth approximately $7.08 million, representing about 1.62% ownership in the company.
• Piper Sandler upgraded Northpointe Bancshares' price target from $16.50 to $17.50 and gave it an "overweight" rating, contributing to a consensus "Buy" rating with an average target price of $17.75.
• Northpointe Bancshares announced a $0.025 quarterly dividend on August 4th, yielding an annualized dividend of 0.6%.

American Century Companies Inc. bought a new stake in Northpointe Bancshares, Inc. (NYSE:NPB - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 490,405 shares of the company's stock, valued at approximately $7,081,000. American Century Companies Inc. owned approximately 1.62% of Northpointe Bancshares as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in NPB. Russell Investments Group Ltd. acquired a new stake in Northpointe Bancshares in the first quarter worth about $2,055,000. Persistent Asset Partners Ltd acquired a new stake in Northpointe Bancshares in the first quarter worth about $941,000. Charles Schwab Investment Management Inc. acquired a new stake in Northpointe Bancshares in the first quarter worth about $829,000. Finally, Boston Partners acquired a new stake in Northpointe Bancshares in the first quarter worth about $454,000.

Northpointe Bancshares Price Performance

NPB traded up $0.25 during midday trading on Tuesday, reaching $18.07. 265,382 shares of the company were exchanged, compared to its average volume of 167,505. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 2.16. Northpointe Bancshares, Inc. has a one year low of $11.43 and a one year high of $18.09. The company's 50-day simple moving average is $15.41.

Northpointe Bancshares (NYSE:NPB - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 announced a quarterly dividend, which was paid on Monday, August 4th. Shareholders of record on Tuesday, July 15th were issued a dividend of $0.025 per share. The ex-dividend date was Tuesday, July 15th. This represents a $0.10 dividend on an annualized basis and a yield of 0.6%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Janney Montgomery Scott assumed coverage on Northpointe Bancshares in a research report on Thursday, August 28th. They issued a "neutral" rating and a $19.25 price objective for the company. Piper Sandler lifted their price objective on Northpointe Bancshares from $16.50 to $17.50 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently 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.