Northpointe Bancshares, Inc. (NYSE:NPB) Short Interest Update

Northpointe Bancshares, Inc. (NYSE:NPB) was the recipient of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 450,452 shares, a growth of 37.8% from the February 26th total of 326,836 shares. Based on an average trading volume of 235,249 shares, the days-to-cover ratio is currently 1.9 days. Currently, 1.6% of the shares of the company are short sold.

Northpointe Bancshares Price Performance

Shares of NPB stock traded down $0.30 during trading hours on Friday, hitting $16.91. The stock had a trading volume of 90,563 shares, compared to its average volume of 232,559. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.39 and a quick ratio of 1.34. The stock has a market capitalization of $581.16 million and a price-to-earnings ratio of 8.09. Northpointe Bancshares has a one year low of $11.43 and a one year high of $19.48. The stock’s 50-day moving average price is $17.63 and its two-hundred day moving average price is $17.34.

Northpointe Bancshares (NYSE:NPB) last announced its quarterly earnings results on Tuesday, January 20th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.08). Northpointe Bancshares had a net margin of 17.70% and a return on equity of 13.79%. The firm had revenue of $65.14 million for the quarter, compared to the consensus estimate of $64.70 million.

Northpointe Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 3rd. Investors of record on Thursday, January 15th were issued a $0.025 dividend. The ex-dividend date of this dividend was Thursday, January 15th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.6%. Northpointe Bancshares’s dividend payout ratio (DPR) is 4.78%.

Insider Activity

In related news, EVP Amy M. Butler sold 9,911 shares of the firm’s stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $18.02, for a total value of $178,596.22. Following the transaction, the executive vice president owned 6,365 shares of the company’s stock, valued at approximately $114,697.30. This trade represents a 60.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Charles Alan Williams bought 23,450 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The shares were acquired at an average price of $16.88 per share, with a total value of $395,836.00. Following the completion of the transaction, the chief executive officer directly owned 54,896 shares of the company’s stock, valued at $926,644.48. This trade represents a 74.57% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 73,895 shares of company stock valued at $1,301,197 over the last three months. Insiders own 18.40% of the company’s stock.

Institutional Investors Weigh In On Northpointe Bancshares

A number of hedge funds have recently bought and sold shares of NPB. Cubist Systematic Strategies LLC bought a new position in Northpointe Bancshares during the first quarter valued at $26,000. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Northpointe Bancshares in the 2nd quarter worth $33,000. State of Alaska Department of Revenue bought a new stake in shares of Northpointe Bancshares in the 4th quarter worth about $40,000. State of Wyoming bought a new stake in shares of Northpointe Bancshares in the 2nd quarter worth about $54,000. Finally, Federated Hermes Inc. purchased a new stake in shares of Northpointe Bancshares during the 3rd quarter valued at about $82,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NPB shares. Piper Sandler boosted their price objective on shares of Northpointe Bancshares from $19.50 to $20.00 and gave the company an “overweight” rating in a research report on Monday, December 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Northpointe Bancshares in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $19.63.

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.