Northpointe Bancshares, Inc. (NYSE:NPB) Sees Significant Growth in Short Interest

Northpointe Bancshares, Inc. (NYSE:NPB) was the target of a large increase in short interest in March. As of March 13th, there was short interest totaling 450,452 shares, an increase of 37.8% from the February 26th total of 326,836 shares. Based on an average daily volume of 235,249 shares, the days-to-cover ratio is presently 1.9 days. Approximately 1.6% of the company’s stock are sold short.

Insider Activity

In related news, CEO Charles Alan Williams purchased 23,450 shares of the business’s stock in a transaction dated Thursday, February 12th. The shares were acquired at an average cost of $16.88 per share, for a total transaction of $395,836.00. Following the acquisition, the chief executive officer owned 54,896 shares of the company’s stock, valued at $926,644.48. The trade was a 74.57% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard Jeffery Dean sold 57,619 shares of the business’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $17.55, for a total value of $1,011,213.45. Following the completion of the transaction, the director directly owned 557,171 shares of the company’s stock, valued at approximately $9,778,351.05. The trade was a 9.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 73,895 shares of company stock worth $1,301,197. 18.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Northpointe Bancshares

Large investors have recently bought and sold shares of the stock. Hsbc Holdings PLC raised its holdings in shares of Northpointe Bancshares by 156.8% in the fourth quarter. Hsbc Holdings PLC now owns 65,852 shares of the company’s stock worth $1,102,000 after buying an additional 40,207 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new stake in shares of Northpointe Bancshares during the fourth quarter valued at $965,000. Invesco Ltd. acquired a new position in shares of Northpointe Bancshares in the 4th quarter valued at $189,000. VARCOV Co. acquired a new position in shares of Northpointe Bancshares in the 4th quarter valued at $452,000. Finally, Occudo Quantitative Strategies LP raised its stake in Northpointe Bancshares by 16.3% in the 4th quarter. Occudo Quantitative Strategies LP now owns 26,068 shares of the company’s stock worth $437,000 after acquiring an additional 3,657 shares during the last quarter.

Northpointe Bancshares Stock Up 0.3%

Shares of Northpointe Bancshares stock traded up $0.06 during trading on Monday, reaching $16.96. The company’s stock had a trading volume of 119,464 shares, compared to its average volume of 329,018. Northpointe Bancshares has a 1-year low of $11.43 and a 1-year high of $19.48. The company has a 50-day simple moving average of $17.63 and a two-hundred day simple moving average of $17.34. The company has a quick ratio of 1.34, a current ratio of 1.39 and a debt-to-equity ratio of 2.24. The company has a market cap of $582.74 million and a price-to-earnings ratio of 8.11.

Northpointe Bancshares (NYSE:NPB) last released 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). The business had revenue of $65.14 million during the quarter, compared to analysts’ expectations of $64.70 million. Northpointe Bancshares had a net margin of 17.70% and a return on equity of 13.79%.

Northpointe Bancshares Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Northpointe Bancshares in a research note on Monday, December 29th. Piper Sandler raised their price target on shares of Northpointe Bancshares from $19.50 to $20.00 and gave the company an “overweight” rating in a report on Monday, December 22nd. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.