Insider Buying: Northpointe Bancshares (NYSE:NPB) Director Purchases $47,400.00 in Stock

Northpointe Bancshares, Inc. (NYSE:NPB) Director Rajeev Kumar Chaudhary acquired 3,000 shares of the business’s stock in a transaction dated Wednesday, October 28th. The stock was purchased at an average cost of $15.80 per share, with a total value of $47,400.00. Following the transaction, the director owned 3,000 shares of the company’s stock, valued at approximately $47,400. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Northpointe Bancshares Stock Performance

Shares of NPB opened at $15.77 on Friday. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.34 and a current ratio of 1.40. The company has a market capitalization of $545.33 million, a price-to-earnings ratio of 7.40 and a beta of 0.16. The company’s 50 day simple moving average is $16.11 and its 200 day simple moving average is $17.35. Northpointe Bancshares, Inc. has a 1 year low of $13.80 and a 1 year high of $19.71.

Northpointe Bancshares (NYSE:NPB) last announced its earnings results on Tuesday, October 20th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.21). The firm had revenue of $55.92 million for the quarter. Northpointe Bancshares had a return on equity of 13.88% and a net margin of 16.27%. On average, sell-side analysts predict that Northpointe Bancshares, Inc. will post 1.80 EPS for the current year.

Northpointe Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 4th. Shareholders of record on Thursday, October 15th will be paid 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 a boost from Northpointe Bancshares’s previous quarterly dividend of $0.0250. Northpointe Bancshares’s dividend payout ratio is currently 5.63%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NPB shares. Zacks Research raised Northpointe Bancshares from a “strong sell” rating to a “hold” rating in a research report on Monday, October 5th. Piper Sandler reduced their target price on Northpointe Bancshares from $20.00 to $19.50 and set an “overweight” rating on the stock in a research report on Thursday, October 22nd. Keefe, Bruyette & Woods decreased their price target 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. Finally, Weiss Ratings upgraded Northpointe Bancshares from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, September 9th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $20.25.

Hedge Funds Weigh In On Northpointe Bancshares

A number of hedge funds have recently made changes to their positions in the stock. Mendon Capital Advisors Corp boosted its holdings in Northpointe Bancshares by 86.4% in the first quarter. Mendon Capital Advisors Corp now owns 308,624 shares of the company’s stock valued at $5,327,000 after acquiring an additional 143,010 shares during the last quarter. Bank of America Corp DE increased its stake 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 acquiring an additional 120,554 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Northpointe Bancshares during the second quarter worth about $1,756,000. Segall Bryant & Hamill LLC acquired a new stake in Northpointe Bancshares during the first quarter worth about $1,515,000. Finally, Hsbc Holdings PLC increased its stake in Northpointe Bancshares by 22.3% during the first quarter. Hsbc Holdings PLC now owns 80,507 shares of the company’s stock worth $1,385,000 after acquiring an additional 14,655 shares during the last quarter.

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 products and lending services to individuals, families, and businesses.

Northpointe Bank offers residential mortgage loans, including home purchase and refinancing products, as well as consumer deposit accounts such as checking, savings, and certificates of deposit. The bank also provides commercial banking services and business loans, serving customers through a combination of digital banking capabilities and banking offices.

Founded in 1999, Northpointe Bank serves customers across the United States, with a particular emphasis on mortgage lending and relationship-based banking.