Mendon Capital Advisors Corp Makes New $3.08 Million Investment 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 stake in Northpointe Bancshares, Inc. (NYSE:NPB - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 213,070 shares of the company's stock, valued at approximately $3,077,000. Northpointe Bancshares makes up about 1.5% of Mendon Capital Advisors Corp's holdings, 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 reporting period.

Several other large investors have also bought and sold shares of the business. Wellington Management Group LLP acquired a new stake in shares of Northpointe Bancshares during the first quarter valued at about $47,534,000. Adage Capital Partners GP L.L.C. bought a new stake in Northpointe Bancshares during the 1st quarter worth approximately $11,025,000. Goldman Sachs Group Inc. bought a new position in shares of Northpointe Bancshares during the first quarter valued at $9,908,000. Jacobs Asset Management LLC acquired a new position in shares of Northpointe Bancshares during the first quarter worth $8,998,000. Finally, American Century Companies Inc. bought a new stake in shares of Northpointe Bancshares in the first quarter worth $7,081,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have 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 price target on the stock. Piper Sandler upped their price target on Northpointe Bancshares from $16.50 to $17.50 and gave the company 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 assigned a Hold rating to the company. According to MarketBeat, Northpointe Bancshares has an average rating of "Moderate Buy" and a consensus price target of $18.25.

Northpointe Bancshares Trading Up 1.0%

NPB stock traded up $0.18 during mid-day trading on Monday, reaching $18.35. 48,553 shares of the company traded hands, compared to its average volume of 143,264. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.39 and a quick ratio of 1.32. The firm's 50 day moving average price is $16.06 and its 200 day moving average price is $14.49. Northpointe Bancshares, Inc. has a fifty-two week low of $11.43 and a fifty-two week high of $18.78.

Northpointe Bancshares (NYSE:NPB - Get Free Report) last announced its quarterly earnings results 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 4th. Stockholders of record on Tuesday, July 15th were issued a $0.025 dividend. The ex-dividend date was Tuesday, July 15th. This represents a $0.10 annualized dividend and a dividend yield of 0.5%.

About Northpointe Bancshares

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.