Rockefeller Capital Management L.P. Makes New Investment in Northpointe Bancshares, Inc. $NPB

Key Points

• Rockefeller Capital Management opened a new position in Northpointe Bancshares, buying 57,538 shares valued at about $965,000 in the fourth quarter.
• Insider activity was mixed: Director David Stevens Hooker sold 7,500 shares, while CEO Charles Alan Williams bought 25,000 shares, and insiders still own about 18.3% of the company.
• Northpointe Bancshares reported Q1 earnings of $0.62 per share, missing estimates, while analysts currently rate the stock Hold on average with a consensus price target of $20.50.

Rockefeller Capital Management L.P. acquired a new position in shares of Northpointe Bancshares, Inc. (NYSE:NPB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 57,538 shares of the company's stock, valued at approximately $965,000. Rockefeller Capital Management L.P. owned 0.17% of Northpointe Bancshares at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wellington Management Group LLP raised its position in Northpointe Bancshares by 2.6% in the 3rd quarter. Wellington Management Group LLP now owns 3,841,773 shares of the company's stock valued at $65,617,000 after purchasing an additional 95,953 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its position in shares of Northpointe Bancshares by 12.5% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,018,214 shares of the company's stock worth $33,866,000 after buying an additional 224,110 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Northpointe Bancshares by 84.1% during the third quarter. Vanguard Group Inc. now owns 1,063,156 shares of the company's stock worth $18,159,000 after buying an additional 485,525 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Northpointe Bancshares by 6.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 760,353 shares of the company's stock worth $12,759,000 after buying an additional 45,047 shares during the period. Finally, Jacobs Asset Management LLC raised its holdings in Northpointe Bancshares by 2.7% in the fourth quarter. Jacobs Asset Management LLC now owns 475,000 shares of the company's stock valued at $7,970,000 after acquiring an additional 12,500 shares in the last quarter.

Insider Transactions at Northpointe Bancshares

In related news, Director David Stevens Hooker sold 7,500 shares of the business's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $17.82, for a total value of $133,650.00. Following the transaction, the director owned 11,500 shares in the company, valued at $204,930. The trade was a 39.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles Alan Williams acquired 25,000 shares of Northpointe Bancshares stock in a transaction on Tuesday, May 12th. The shares were bought at an average cost of $17.21 per share, with a total value of $430,250.00. Following the completion of the purchase, the chief executive officer owned 2,312,650 shares in the company, valued at $39,800,706.50. The trade was a 1.09% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have sold 22,500 shares of company stock worth $410,141. Corporate insiders own 18.30% of the company's stock.

Northpointe Bancshares Stock Performance

Shares of Northpointe Bancshares stock opened at $18.85 on Friday. The firm's fifty day simple moving average is $17.73 and its 200-day simple moving average is $17.69. Northpointe Bancshares, Inc. has a 12 month low of $13.66 and a 12 month high of $19.71. The stock has a market capitalization of $651.97 million and a price-to-earnings ratio of 8.49. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.44 and a quick ratio of 1.38.

Northpointe Bancshares (NYSE:NPB - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.04). The business had revenue of $63.42 million for the quarter. Northpointe Bancshares had a return on equity of 14.80% and a net margin of 17.92%. As a group, equities analysts forecast that Northpointe Bancshares, Inc. will post 2.72 earnings per share for the current year.

Northpointe Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Wednesday, April 15th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.5%. Northpointe Bancshares's dividend payout ratio (DPR) is currently 4.50%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Piper Sandler lifted their price target on shares of Northpointe Bancshares from $21.00 to $22.00 and gave the stock an "overweight" rating in a research note on Thursday. Brean Capital assumed coverage on shares of Northpointe Bancshares in a research report on Wednesday, April 22nd. They issued a "neutral" rating and a $20.25 price objective on the stock. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Northpointe Bancshares in a report on Friday, May 29th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Northpointe Bancshares currently has a consensus rating of "Hold" and an average target price of $20.50.

Northpointe Bancshares Company Profile

Northpointe Bancshares, Inc is the bank holding company for Northpointe Bank, an FDIC-insured community bank based in Michigan. The company offers a full range of commercial and consumer banking solutions, serving retail, small business and corporate clients through both a physical branch network and digital platforms.

Northpointe Bank’s product suite includes interest-bearing checking and savings accounts, money market and certificate of deposit offerings, as well as residential mortgage lending, home equity financing and unsecured consumer loans.

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