Northpointe Bancshares, Inc. $NPB Holdings Lowered by Cwm LLC

Key Points

• Cwm LLC has reduced its stake in Northpointe Bancshares by 65.8%, selling 87,476 shares and now holds 45,535 shares worth $624,000 as of the latest SEC filing.
• Several hedge funds have made significant investments in Northpointe Bancshares this year, with Wellington Management Group leading with a new stake valued at $47.5 million.
• The company released its quarterly earnings, reporting $0.57 earnings per share, exceeding analyst expectations, alongside a recently declared quarterly dividend of $0.025.

Cwm LLC trimmed its stake in shares of Northpointe Bancshares, Inc. (NYSE:NPB - Free Report) by 65.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,535 shares of the company's stock after selling 87,476 shares during the period. Cwm LLC owned about 0.13% of Northpointe Bancshares worth $624,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Wellington Management Group LLP purchased a new stake in shares of Northpointe Bancshares during the first quarter valued at $47,534,000. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Northpointe Bancshares during the first quarter valued at $11,025,000. Goldman Sachs Group Inc. purchased a new stake in shares of Northpointe Bancshares during the first quarter valued at $9,908,000. Jacobs Asset Management LLC purchased a new stake in shares of Northpointe Bancshares during the first quarter valued at $8,998,000. Finally, American Century Companies Inc. purchased a new stake in shares of Northpointe Bancshares during the first quarter valued at $7,081,000.

Analyst Ratings Changes

NPB has been the subject of several analyst reports. Piper Sandler upped their target price on Northpointe Bancshares from $17.50 to $19.50 and gave the company an "overweight" rating in a report on Wednesday, October 8th. Janney Montgomery Scott initiated coverage on Northpointe Bancshares in a report on Thursday, August 28th. They set a "neutral" rating and a $19.25 target price for the company. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Northpointe Bancshares in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $18.92.

Insider Activity at Northpointe Bancshares

In related news, Director David Stevens Hooker sold 65,161 shares of the business's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $18.21, for a total value of $1,186,581.81. Following the completion of the sale, the director owned 834,879 shares of the company's stock, valued at approximately $15,203,146.59. The trade was a 7.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 18.40% of the company's stock.

Northpointe Bancshares Stock Down 0.8%

NYSE:NPB opened at $16.51 on Friday. Northpointe Bancshares, Inc. has a 1-year low of $11.43 and a 1-year high of $18.85. 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 business's fifty day moving average price is $17.53 and its 200 day moving average price is $15.15.

Northpointe Bancshares (NYSE:NPB - Get Free Report) last posted its quarterly earnings results on Tuesday, October 21st. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.01. The business had revenue of $64.36 million for the quarter, compared to analyst estimates of $62.17 million.

Northpointe Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Wednesday, October 15th will be paid a $0.025 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $0.10 annualized dividend and a dividend yield of 0.6%.

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.

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