Jacobs Asset Management LLC Makes New $9 Million Investment in Northpointe Bancshares, Inc. $NPB

Key Points

• Jacobs Asset Management LLC has acquired a new position in Northpointe Bancshares, purchasing 623,148 shares valued at approximately $8.998 million, making it the 5th largest position in their portfolio.
• Northpointe Bancshares reported $0.51 earnings per share for the last quarter, aligning with analysts' expectations, and achieved revenue of $58.96 million, exceeding estimates.
• The company recently declared a quarterly dividend of $0.025 per share, representing an annualized rate of $0.10, and a dividend yield of 0.6%.

Jacobs Asset Management LLC acquired a new stake in Northpointe Bancshares, Inc. (NYSE:NPB - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 623,148 shares of the company's stock, valued at approximately $8,998,000. Northpointe Bancshares makes up approximately 5.6% of Jacobs Asset Management LLC's investment portfolio, making the stock its 5th largest position. Jacobs Asset Management LLC owned approximately 2.05% of Northpointe Bancshares as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new stake in Northpointe Bancshares during the 1st quarter valued at $47,534,000. American Century Companies Inc. bought a new position in Northpointe Bancshares in the 1st quarter worth $7,081,000. Boston Partners bought a new position in Northpointe Bancshares in the 1st quarter worth $454,000. Persistent Asset Partners Ltd bought a new position in Northpointe Bancshares in the 1st quarter worth $941,000. Finally, Russell Investments Group Ltd. bought a new position in Northpointe Bancshares in the 1st quarter worth $2,055,000.

Northpointe Bancshares Trading Up 0.7%

Shares of NYSE:NPB traded up $0.13 during midday trading on Friday, reaching $17.83. 156,465 shares of the company's stock traded hands, compared to its average volume of 142,418. The stock's 50 day moving average price is $15.14. Northpointe Bancshares, Inc. has a one year low of $11.43 and a one year high of $17.94. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.39 and a quick ratio of 1.32.

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

Northpointe Bancshares Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NPB. Piper Sandler upped their target price on shares of 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 shares of Northpointe Bancshares in a research report on Thursday. They issued a "neutral" rating and a $19.25 target price on the stock. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $18.25.

Northpointe Bancshares 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.