Northpointe Bancshares (NYSE:NPB) Reaches New 1-Year Low After Earnings Miss

Northpointe Bancshares, Inc. (NYSE:NPB) shares hit a new 52-week low during trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $13.80 and last traded at $14.7410, with a volume of 353,175 shares traded. The stock had previously closed at $15.78.

The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.21). Northpointe Bancshares had a return on equity of 14.99% and a net margin of 17.72%. The business had revenue of $55.92 million for the quarter.

Northpointe Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 4th. Stockholders of record on Thursday, October 15th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.8%. This is an increase from Northpointe Bancshares’s previous quarterly dividend of $0.0250. Northpointe Bancshares’s payout ratio is currently 5.19%.

Analyst Ratings Changes

NPB has been the subject of several research analyst reports. Piper Sandler decreased their price target on shares of Northpointe Bancshares from $21.50 to $20.00 and set an “overweight” rating for the company in a research note on Friday, October 9th. Weiss Ratings upgraded Northpointe Bancshares from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, September 9th. Keefe, Bruyette & Woods decreased their target price on Northpointe Bancshares from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Thursday, July 23rd. Finally, Zacks Research upgraded Northpointe Bancshares from a “strong sell” rating to a “hold” rating in a research note on Monday, October 5th. Two investment 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’s stock. According to data from MarketBeat.com, Northpointe Bancshares has an average rating of “Hold” and an average price target of $20.42.

Insider Activity at Northpointe Bancshares

In other news, CEO Charles Williams bought 48,312 shares of Northpointe Bancshares stock in a transaction that occurred on Wednesday, August 26th. The shares were acquired at an average price of $16.95 per share, with a total value of $818,888.40. Following the completion of the purchase, the chief executive officer directly owned 2,390,962 shares in the company, valued at $40,526,805.90. The trade was a 2.06% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 18.30% of the stock is owned by insiders.

Institutional Trading of Northpointe Bancshares

Several hedge funds have recently added to or reduced their stakes in NPB. State of Alaska Department of Revenue lifted its stake in shares of Northpointe Bancshares by 62.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 3,920 shares of the company’s stock valued at $57,000 after acquiring an additional 1,512 shares during the last quarter. WINTON GROUP Ltd bought a new stake in shares of Northpointe Bancshares during the 2nd quarter valued at about $218,000. Squarepoint Ops LLC purchased a new stake in Northpointe Bancshares in the second quarter worth $765,000. Pale Fire Capital SE grew its holdings in Northpointe Bancshares by 29.2% in the second quarter. Pale Fire Capital SE now owns 13,258 shares of the company’s stock worth $254,000 after purchasing an additional 3,000 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Northpointe Bancshares in the 2nd quarter worth about $191,000.

Northpointe Bancshares Stock Down 6.6%

The stock has a market cap of $509.54 million, a PE ratio of 6.36 and a beta of 0.16. The company has a 50 day moving average price of $16.38 and a two-hundred day moving average price of $17.35. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.40 and a quick ratio of 1.34.

About Northpointe Bancshares

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.