Northpointe Bancshares, Inc. (NYSE:NPB) Receives Average Rating of “Hold” from Brokerages

Shares of Northpointe Bancshares, Inc. (NYSE:NPB) have earned a consensus recommendation of “Hold” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $20.6250.

A number of research firms recently weighed in on NPB. Brean Capital assumed coverage on shares of Northpointe Bancshares in a research note on Wednesday, April 22nd. They issued a “neutral” rating and a $20.25 price objective for the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Northpointe Bancshares in a research note on Friday, May 29th. Keefe, Bruyette & Woods dropped their price objective on Northpointe Bancshares from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. Zacks Research lowered Northpointe Bancshares from a “hold” rating to a “strong sell” rating in a report on Tuesday. Finally, Piper Sandler increased their price target on shares of Northpointe Bancshares from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, July 2nd.

Northpointe Bancshares Price Performance

Shares of NYSE:NPB opened at $17.32 on Thursday. The firm has a market capitalization of $599.10 million and a PE ratio of 7.50. The company has a quick ratio of 1.38, a current ratio of 1.44 and a debt-to-equity ratio of 2.96. The company has a 50-day moving average price of $18.03 and a two-hundred day moving average price of $17.82. Northpointe Bancshares has a twelve month low of $14.27 and a twelve month high of $19.71.

Northpointe Bancshares (NYSE:NPB) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.08). The business had revenue of $64.32 million during the quarter. Northpointe Bancshares had a net margin of 17.72% and a return on equity of 15.10%. Equities analysts forecast that Northpointe Bancshares will post 2.63 EPS for the current year.

Northpointe Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 4th. Investors of record on Wednesday, July 15th will be issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, July 15th. Northpointe Bancshares’s dividend payout ratio is 4.33%.

Insider Buying and Selling at Northpointe Bancshares

In other Northpointe Bancshares news, Director David Stevens Hooker sold 7,500 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $17.82, for a total value of $133,650.00. Following the completion of the transaction, the director directly owned 11,500 shares of the company’s stock, valued at $204,930. This trade represents a 39.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles Alan Williams purchased 25,000 shares of Northpointe Bancshares stock in a transaction dated Tuesday, May 12th. The shares were purchased at an average price of $17.21 per share, with a total value of $430,250.00. Following the completion of the transaction, the chief executive officer directly owned 2,312,650 shares in the company, valued at approximately $39,800,706.50. This represents a 1.09% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders sold 22,500 shares of company stock valued at $410,141. Insiders own 18.30% of the company’s stock.

Hedge Funds Weigh In On Northpointe Bancshares

A number of institutional investors have recently added to or reduced their stakes in NPB. JPMorgan Chase & Co. raised its holdings in shares of Northpointe Bancshares by 118.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 123,408 shares of the company’s stock valued at $2,108,000 after acquiring an additional 66,798 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new position in shares of Northpointe Bancshares during the fourth quarter worth about $965,000. Mendon Capital Advisors Corp grew its holdings in shares of Northpointe Bancshares by 86.4% during the first quarter. Mendon Capital Advisors Corp now owns 308,624 shares of the company’s stock worth $5,327,000 after purchasing an additional 143,010 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Northpointe Bancshares by 156.8% in the fourth quarter. Hsbc Holdings PLC now owns 65,852 shares of the company’s stock worth $1,102,000 after purchasing an additional 40,207 shares during the last quarter. Finally, Pale Fire Capital SE bought a new position in shares of Northpointe Bancshares in the first quarter worth approximately $177,000.

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.