Northpointe Bancshares, Inc. (NYSE:NPB) Short Interest Up 60.7% in May

Northpointe Bancshares, Inc. (NYSE:NPB) saw a significant growth in short interest in the month of May. As of May 29th, there was short interest totaling 428,777 shares, a growth of 60.7% from the May 14th total of 266,872 shares. Approximately 1.5% of the company’s shares are short sold. Based on an average daily volume of 113,643 shares, the short-interest ratio is presently 3.8 days.

Northpointe Bancshares Stock Performance

Shares of NPB opened at $17.86 on Wednesday. The stock has a 50 day moving average price of $17.75 and a 200 day moving average price of $17.61. 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 market capitalization of $617.53 million, a price-to-earnings ratio of 8.04 and a beta of 0.12. Northpointe Bancshares has a 52-week low of $12.86 and a 52-week high of $19.48.

Northpointe Bancshares (NYSE:NPB) last announced its earnings results on Tuesday, April 21st. The company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.04). The business had revenue of $63.42 million during the quarter. Northpointe Bancshares had a net margin of 17.92% and a return on equity of 14.80%. Research analysts predict that Northpointe Bancshares will post 2.72 EPS for the current fiscal year.

Northpointe Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Wednesday, April 15th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Wednesday, April 15th. Northpointe Bancshares’s payout ratio is presently 4.50%.

Insider Transactions at Northpointe Bancshares

In other Northpointe Bancshares news, Director David Stevens Hooker sold 2,351 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $17.70, for a total transaction of $41,612.70. Following the sale, the director directly owned 11,000 shares in the company, valued at $194,700. This represents a 17.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 purchased 25,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were acquired at an average price of $17.21 per share, for a total transaction of $430,250.00. Following the completion of the purchase, the chief executive officer directly owned 2,312,650 shares of the company’s stock, valued at approximately $39,800,706.50. This trade represents a 1.09% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 15,000 shares of company stock worth $265,391 over the last quarter. Insiders own 18.30% of the company’s stock.

Institutional Investors Weigh In On Northpointe Bancshares

Several institutional investors have recently made changes to their positions in NPB. Cubist Systematic Strategies LLC purchased a new stake in shares of Northpointe Bancshares during the 1st quarter worth $26,000. Goldman Sachs Group Inc. acquired a new position in shares of Northpointe Bancshares during the 1st quarter worth $9,908,000. Jane Street Group LLC acquired a new position in shares of Northpointe Bancshares during the 1st quarter worth $146,000. Geode Capital Management LLC raised its stake in shares of Northpointe Bancshares by 138.9% during the 2nd quarter. Geode Capital Management LLC now owns 234,789 shares of the company’s stock worth $3,220,000 after buying an additional 136,490 shares during the last quarter. Finally, JPMorgan Chase & Co. purchased a new position in Northpointe Bancshares during the 2nd quarter valued at about $776,000.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NPB. Brean Capital began coverage on shares of Northpointe Bancshares in a report on Wednesday, April 22nd. They issued a “neutral” rating and a $20.25 target price on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Northpointe Bancshares in a report on Friday, May 29th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $19.83.

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.