Bank of New York Mellon Corp Invests $1.76 Million in Northpointe Bancshares, Inc. $NPB

Key Points

• Bank of New York Mellon acquired 91,571 Northpointe Bancshares shares worth approximately $1.76 million, representing about 0.26% of the company. Other institutional investors, including Bank of America and Mendon Capital Advisors, also increased their positions.
• Analyst sentiment is mixed: NPB has an average rating of “Hold” and a consensus price target of $21.08, while ratings range from “strong sell” to “overweight.”
• Northpointe reported quarterly EPS of $0.60, below the $0.68 consensus estimate, while its stock opened at $17.22. The company also maintains a quarterly dividend of $0.025 per share, equivalent to a 0.6% annual yield.

Bank of New York Mellon Corp acquired a new stake in Northpointe Bancshares, Inc. (NYSE:NPB - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 91,571 shares of the company's stock, valued at approximately $1,756,000. Bank of New York Mellon Corp owned about 0.26% of Northpointe Bancshares as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in NPB. Segall Bryant & Hamill LLC acquired a new stake in shares of Northpointe Bancshares in the first quarter valued at about $1,515,000. Bank of America Corp DE increased its position in shares of Northpointe Bancshares by 126.9% during the 1st quarter. Bank of America Corp DE now owns 215,544 shares of the company's stock worth $3,720,000 after purchasing an additional 120,554 shares during the last quarter. Mendon Capital Advisors Corp boosted its holdings in shares of Northpointe Bancshares by 86.4% in the 1st quarter. Mendon Capital Advisors Corp now owns 308,624 shares of the company's stock valued at $5,327,000 after buying an additional 143,010 shares during the last quarter. Pale Fire Capital SE bought a new position in shares of Northpointe Bancshares in the first quarter valued at $177,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Northpointe Bancshares in the first quarter valued at $172,000.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NPB shares. Zacks Research lowered shares of Northpointe Bancshares from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. Keefe, Bruyette & Woods lowered their price target on Northpointe Bancshares from $22.00 to $21.00 and set an "outperform" rating on the stock in a research report on Thursday, July 23rd. Piper Sandler boosted their target price on Northpointe Bancshares from $21.00 to $22.00 and gave the stock an "overweight" rating in a report on Thursday, July 2nd. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Northpointe Bancshares in a research report on Wednesday, August 26th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $21.08.

Insider Transactions at Northpointe Bancshares

In other Northpointe Bancshares news, CEO Charles Williams purchased 48,312 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were acquired 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Hooker sold 7,500 shares of Northpointe Bancshares stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $19.30, for a total transaction of $144,750.00. Following the completion of the sale, the director owned 10,500 shares of the company's stock, valued at $202,650. This trade represents a 41.67% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 18.30% of the stock is currently owned by company insiders.

Northpointe Bancshares Price Performance

Shares of NYSE NPB opened at $17.22 on Wednesday. The firm has a market cap of $595.50 million, a P/E ratio of 7.46 and a beta of 0.05. The business's 50 day moving average is $17.64 and its 200-day moving average is $17.71. The company has a current ratio of 1.40, a quick ratio of 1.34 and a debt-to-equity ratio of 2.66. Northpointe Bancshares, Inc. has a 1-year low of $15.42 and a 1-year high of $19.71.

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

Northpointe Bancshares Dividend Announcement

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

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.

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