David Stevens Hooker Sells 7,500 Shares of Northpointe Bancshares (NYSE:NPB) Stock

Northpointe Bancshares, Inc. (NYSE:NPB) Director David Stevens Hooker sold 7,500 shares of the company’s stock in a transaction that occurred 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 sale, the director owned 10,500 shares in the company, valued at approximately $202,650. This trade represents a 41.67% decrease in their ownership of the stock. 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.

David Stevens Hooker also recently made the following trade(s):

• On Tuesday, June 9th, David Stevens Hooker sold 2,351 shares of Northpointe Bancshares stock. The stock was sold at an average price of $17.70, for a total value of $41,612.70.
• On Monday, June 8th, David Stevens Hooker sold 739 shares of Northpointe Bancshares stock. The stock was sold at an average price of $17.52, for a total value of $12,947.28.
• On Friday, June 5th, David Stevens Hooker sold 285 shares of Northpointe Bancshares stock. The shares were sold at an average price of $17.52, for a total value of $4,993.20.
• On Tuesday, June 2nd, David Stevens Hooker sold 4,125 shares of Northpointe Bancshares stock. The shares were sold at an average price of $17.50, for a total value of $72,187.50.
• On Friday, May 1st, David Stevens Hooker sold 7,500 shares of Northpointe Bancshares stock. The stock was sold at an average price of $17.82, for a total value of $133,650.00.

Northpointe Bancshares Stock Down 0.5%

NYSE NPB opened at $18.85 on Friday. 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 fifty day moving average of $17.76 and a two-hundred day moving average of $17.70. The firm has a market capitalization of $651.97 million and a price-to-earnings ratio of 8.49. Northpointe Bancshares, Inc. has a 52 week low of $13.66 and a 52 week high of $19.71.

Northpointe Bancshares (NYSE:NPB) last announced its earnings results on Tuesday, April 21st. The company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.04). The firm 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%. On average, analysts predict that Northpointe Bancshares, Inc. will post 2.72 earnings per share for the current year.

Northpointe Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Wednesday, April 15th were given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, April 15th. Northpointe Bancshares’s dividend payout ratio is 4.50%.

Institutional Investors Weigh In On Northpointe Bancshares

Large investors have recently added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. grew its stake in Northpointe Bancshares by 122.0% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,694,728 shares of the company’s stock worth $23,235,000 after purchasing an additional 931,240 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of Northpointe Bancshares during the first quarter valued at about $9,908,000. Vanguard Group Inc. boosted its holdings in shares of Northpointe Bancshares by 84.1% in the 3rd quarter. Vanguard Group Inc. now owns 1,063,156 shares of the company’s stock valued at $18,159,000 after buying an additional 485,525 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Northpointe Bancshares by 462.4% in the 3rd quarter. Millennium Management LLC now owns 373,891 shares of the company’s stock valued at $6,386,000 after buying an additional 307,409 shares in the last quarter. Finally, Mendon Capital Advisors Corp grew its position in shares of Northpointe Bancshares by 86.4% in the 1st quarter. Mendon Capital Advisors Corp now owns 308,624 shares of the company’s stock worth $5,327,000 after buying an additional 143,010 shares during the last quarter.

Analysts Set New Price Targets

NPB has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Northpointe Bancshares in a research report on Friday, May 29th. Brean Capital assumed coverage on Northpointe Bancshares in a research note on Wednesday, April 22nd. They set a “neutral” rating and a $20.25 price target for the company. Finally, Piper Sandler upped their price objective on Northpointe Bancshares from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $20.50.

About Northpointe Bancshares

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.