Wellington Management Group LLP Has $70.04 Million Stock Holdings in Northpointe Bancshares, Inc. $NPB

Key Points

• Wellington Management reduced its Northpointe Bancshares stake by 19% in the second quarter, selling 856,258 shares and retaining 3.65 million shares worth approximately $70.04 million, or 10.56% of the company.
• Analyst sentiment is mixed: the consensus rating is “Hold” with a $21.08 target price, while ratings range from “strong sell” to “overweight.” Northpointe’s latest quarterly EPS of $0.60 missed estimates of $0.68.
• Northpointe declared a quarterly dividend of $0.025 per share, equivalent to a $0.10 annualized payout and a 0.6% yield. CEO Charles Alan Williams also bought 48,312 shares for roughly $819,000, while a director sold 7,500 shares.

Wellington Management Group LLP decreased its stake in shares of Northpointe Bancshares, Inc. (NYSE:NPB - Free Report) by 19.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,651,674 shares of the company's stock after selling 856,258 shares during the quarter. Wellington Management Group LLP owned about 10.56% of Northpointe Bancshares worth $70,039,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cubist Systematic Strategies LLC bought a new position in shares of Northpointe Bancshares in the first quarter valued at $26,000. State of Wyoming acquired a new stake in Northpointe Bancshares in the second quarter valued at $54,000. Police & Firemen s Retirement System of New Jersey increased its stake in shares of Northpointe Bancshares by 131.2% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 5,524 shares of the company's stock worth $93,000 after purchasing an additional 3,135 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Northpointe Bancshares during the 2nd quarter worth about $79,000. Finally, IFP Advisors Inc raised its holdings in shares of Northpointe Bancshares by 71,433.3% in the 4th quarter. IFP Advisors Inc now owns 6,438 shares of the company's stock valued at $108,000 after purchasing an additional 6,429 shares during the period.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on NPB shares. Zacks Research downgraded shares of Northpointe Bancshares from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. Keefe, Bruyette & Woods cut their price objective on Northpointe Bancshares from $22.00 to $21.00 and set an "outperform" rating for the company in a research report on Thursday, July 23rd. Weiss Ratings reissued a "sell (d)" rating on shares of Northpointe Bancshares in a report on Wednesday, August 26th. Finally, Piper Sandler increased their price target on Northpointe Bancshares from $21.00 to $22.00 and gave the company an "overweight" rating in a research note on Thursday, July 2nd. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $21.08.

Northpointe Bancshares Stock Up 1.7%

NPB stock opened at $16.87 on Thursday. Northpointe Bancshares, Inc. has a fifty-two week low of $15.42 and a fifty-two week high of $19.71. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.40 and a quick ratio of 1.34. The stock has a market capitalization of $583.54 million, a price-to-earnings ratio of 7.30 and a beta of 0.05. The business's fifty day moving average price is $17.77 and its two-hundred day moving average price is $17.72.

Northpointe Bancshares (NYSE:NPB - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.08). Northpointe Bancshares had a net margin of 17.72% and a return on equity of 14.99%. The business had revenue of $64.32 million during the quarter. On average, equities analysts anticipate that Northpointe Bancshares, Inc. will post 2.48 earnings per share for the current year.

Northpointe Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 4th. Stockholders of record on Wednesday, July 15th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $0.10 annualized dividend and a dividend yield of 0.6%. Northpointe Bancshares's dividend payout ratio (DPR) is currently 4.33%.

Insider Buying and Selling

In related news, CEO Charles Alan Williams acquired 48,312 shares of the stock in a transaction on Wednesday, August 26th. The shares were purchased at an average price of $16.95 per share, for a total transaction of $818,888.40. Following the purchase, the chief executive officer directly owned 2,390,962 shares in the company, valued at approximately $40,526,805.90. The trade was a 2.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David Stevens Hooker sold 7,500 shares of Northpointe Bancshares stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $19.30, for a total value of $144,750.00. Following the completion of the transaction, the director directly owned 10,500 shares of the company's stock, valued at $202,650. This represents a 41.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 11,647 shares of company stock valued at $217,813. 18.30% of the stock is owned by company insiders.

Northpointe Bancshares 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.

Want to see what other hedge funds are holding NPB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northpointe Bancshares, Inc. (NYSE:NPB - Free Report).

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