Northpointe Bancshares (NYSE:NPB) Stock Gets Price Target Cut from Piper Sandler

Northpointe Bancshares (NYSE:NPB) had its target price decreased by Piper Sandler from $21.50 to $20.00 in a report released on Friday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other equities analysts have also weighed in on NPB. Weiss Ratings raised shares of Northpointe Bancshares from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, September 9th. Zacks Research upgraded shares of Northpointe Bancshares from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. Finally, Keefe, Bruyette & Woods reduced their price objective on Northpointe Bancshares from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Thursday, July 23rd. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Northpointe Bancshares presently has a consensus rating of “Hold” and an average target price of $20.42.

Northpointe Bancshares Stock Up 0.2%

Northpointe Bancshares stock opened at $15.87 on Friday. The firm has a market capitalization of $548.78 million, a price-to-earnings ratio of 6.87 and a beta of 0.16. Northpointe Bancshares has a fifty-two week low of $14.20 and a fifty-two week high of $19.71. The stock’s fifty day moving average is $16.59 and its two-hundred day moving average is $17.42. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.34 and a current ratio of 1.40.

Northpointe Bancshares (NYSE:NPB) last posted its earnings results on Tuesday, July 21st. The company reported $0.60 earnings per share 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 for the quarter. Analysts predict that Northpointe Bancshares will post 2.44 EPS for the current fiscal year.

Northpointe Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 4th. Investors of record on Thursday, October 15th will be issued a $0.03 dividend. This is an increase from Northpointe Bancshares’s previous quarterly dividend of $0.0250. This represents a $0.12 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, October 15th. Northpointe Bancshares’s dividend payout ratio is presently 4.33%.

Insider Activity

In other news, CEO Charles Williams purchased 48,312 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The shares were acquired at an average cost of $16.95 per share, with a total value of $818,888.40. Following the transaction, the chief executive officer owned 2,390,962 shares in the company, valued at approximately $40,526,805.90. The trade was a 2.06% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 18.30% of the company’s stock.

Hedge Funds Weigh In On Northpointe Bancshares

A number of large investors have recently bought and sold shares of the business. Jacobs Asset Management LLC lifted its holdings in shares of Northpointe Bancshares by 2.7% in the 4th quarter. Jacobs Asset Management LLC now owns 475,000 shares of the company’s stock worth $7,970,000 after purchasing an additional 12,500 shares during the last quarter. Mendon Capital Advisors Corp increased its stake in Northpointe Bancshares by 86.4% during the 1st quarter. Mendon Capital Advisors Corp now owns 308,624 shares of the company’s stock valued at $5,327,000 after buying an additional 143,010 shares during the period. Bank of America Corp DE raised its holdings in Northpointe Bancshares by 126.9% during the first quarter. Bank of America Corp DE now owns 215,544 shares of the company’s stock worth $3,720,000 after purchasing an additional 120,554 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Northpointe Bancshares in the second quarter valued at $1,756,000. Finally, Segall Bryant & Hamill LLC acquired a new stake in Northpointe Bancshares in the 1st quarter valued at about $1,515,000.

Northpointe Bancshares Company Profile

Northpointe Bancshares, Inc is a bank holding company headquartered in Grand Rapids, Michigan. It operates through Northpointe Bank, a financial institution focused on providing banking and lending services to consumers and businesses.

Northpointe Bank offers residential mortgage products, including loans for home purchases and refinancing, as well as home equity lending. Its deposit products include checking, savings, money market and certificate of deposit accounts. The bank also provides personal and commercial banking services designed to meet the borrowing, cash-management and deposit needs of individuals and businesses.

Through a combination of digital banking capabilities, mortgage lending channels and its physical banking presence, Northpointe serves customers in Michigan and markets across the United States.