Persistent Asset Partners Ltd Takes $941,000 Position in Northpointe Bancshares, Inc. (NYSE:NPB)

Key Points

• Persistent Asset Partners Ltd acquired 65,196 shares of Northpointe Bancshares, Inc. valued at approximately $941,000, holding around 0.21% of the company.
• Northpointe Bancshares reported earnings of $0.51 EPS for the last quarter, meeting analysts' expectations, with revenue of $58.96 million.
• Analysts at Piper Sandler have increased their target price for Northpointe Bancshares from $16.50 to $17.50, maintaining an "overweight" rating.

Persistent Asset Partners Ltd bought a new stake in shares of Northpointe Bancshares, Inc. (NYSE:NPB - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 65,196 shares of the company's stock, valued at approximately $941,000. Persistent Asset Partners Ltd owned approximately 0.21% of Northpointe Bancshares at the end of the most recent reporting period.

Separately, Russell Investments Group Ltd. purchased a new position in shares of Northpointe Bancshares during the 1st quarter valued at approximately $2,055,000.

Northpointe Bancshares Trading Up 0.3%

Shares of NYSE:NPB opened at $14.89 on Tuesday. Northpointe Bancshares, Inc. has a 1 year low of $11.43 and a 1 year high of $15.50. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.43 and a current ratio of 1.48. The company's 50 day simple moving average is $14.20.

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

Northpointe Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 4th. Investors of record on Tuesday, July 15th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, July 15th.

Analyst Upgrades and Downgrades

Separately, Piper Sandler increased their target price on Northpointe Bancshares from $16.50 to $17.50 and gave the company an "overweight" rating in a research report on Monday, July 28th.

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.

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