Mendon Capital Advisors Corp Invests $3.08 Million in Northpointe Bancshares, Inc. $NPB

Key Points

• Mendon Capital Advisors Corp acquired 213,070 shares of Northpointe Bancshares, valued at approximately $3,077,000, making it the fund's 21st largest position.
• Northpointe Bancshares recently announced a quarterly dividend of $0.025 per share, yielding 0.6% annually.
• Brokerages have set a consensus target price of $18.25 for Northpointe Bancshares, with an average rating of "Moderate Buy."

Mendon Capital Advisors Corp acquired a new position in shares of Northpointe Bancshares, Inc. (NYSE:NPB - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 213,070 shares of the company's stock, valued at approximately $3,077,000. Northpointe Bancshares comprises 1.5% of Mendon Capital Advisors Corp's investment portfolio, making the stock its 21st biggest holding. Mendon Capital Advisors Corp owned approximately 0.62% of Northpointe Bancshares at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of NPB. Charles Schwab Investment Management Inc. purchased a new stake in Northpointe Bancshares during the 1st quarter worth approximately $829,000. Russell Investments Group Ltd. acquired a new position in shares of Northpointe Bancshares in the 1st quarter worth approximately $2,055,000. Persistent Asset Partners Ltd acquired a new position in shares of Northpointe Bancshares in the 1st quarter worth approximately $941,000. Boston Partners acquired a new position in shares of Northpointe Bancshares in the 1st quarter worth approximately $454,000. Finally, American Century Companies Inc. acquired a new position in shares of Northpointe Bancshares in the 1st quarter worth approximately $7,081,000.

Northpointe Bancshares Stock Performance

NYSE:NPB traded down $0.29 during midday trading on Friday, reaching $18.16. 186,499 shares of the company traded hands, compared to its average volume of 174,872. Northpointe Bancshares, Inc. has a twelve month low of $11.43 and a twelve month 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 company has a fifty day moving average price of $16.06 and a 200 day moving average price of $14.49.

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

Northpointe Bancshares Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on NPB shares. Janney Montgomery Scott started coverage on Northpointe Bancshares in a research report on Thursday, August 28th. They issued a "neutral" rating and a $19.25 target price for the company. Piper Sandler lifted their target price 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. According to MarketBeat.com, Northpointe Bancshares has a consensus rating of "Moderate Buy" and an average price target 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.