Northpointe Bancshares (NYSE:NPB) Stock Price Expected to Rise, Piper Sandler Analyst Says

Northpointe Bancshares (NYSE:NPB) had its target price hoisted by investment analysts at Piper Sandler from $21.00 to $22.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 15.06% from the company’s previous close.

A number of other analysts also recently weighed in on NPB. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Northpointe Bancshares in a research report on Friday, May 29th. Brean Capital initiated coverage on shares of Northpointe Bancshares in a research report on Wednesday, April 22nd. They set a “neutral” rating and a $20.25 price target for the company. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $20.50.

Northpointe Bancshares Trading Down 0.3%

NYSE NPB opened at $19.12 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.44 and a debt-to-equity ratio of 2.96. Northpointe Bancshares has a twelve month low of $13.66 and a twelve month high of $19.56. The firm has a market capitalization of $661.17 million and a PE ratio of 8.61. The stock’s 50 day moving average is $17.72 and its 200 day moving average is $17.68.

Northpointe Bancshares (NYSE:NPB) last issued its quarterly 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 return on equity of 14.80% and a net margin of 17.92%. Research analysts forecast that Northpointe Bancshares will post 2.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Northpointe Bancshares

In other news, Director David Stevens Hooker sold 2,351 shares of Northpointe Bancshares stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $17.70, for a total value of $41,612.70. Following the completion of the transaction, the director owned 11,000 shares of the company’s stock, valued at $194,700. The trade was a 17.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 stock in a transaction dated Tuesday, May 12th. The stock was bought at an average cost of $17.21 per share, with a total value of $430,250.00. Following the transaction, the chief executive officer owned 2,312,650 shares in the company, valued at $39,800,706.50. The trade was a 1.09% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold 15,000 shares of company stock worth $265,391 over the last three months. Corporate insiders own 18.30% of the company’s stock.

Institutional Trading of Northpointe Bancshares

Institutional investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC bought a new stake in Northpointe Bancshares during the 1st quarter valued at about $26,000. Goldman Sachs Group Inc. bought a new position in shares of Northpointe Bancshares in the first quarter worth approximately $9,908,000. Jane Street Group LLC purchased a new stake in shares of Northpointe Bancshares during the first quarter valued at approximately $146,000. Geode Capital Management LLC grew its holdings in shares of Northpointe Bancshares by 138.9% during the second quarter. Geode Capital Management LLC now owns 234,789 shares of the company’s stock valued at $3,220,000 after buying an additional 136,490 shares during the last quarter. Finally, JPMorgan Chase & Co. bought a new stake in shares of Northpointe Bancshares during the second quarter valued at approximately $776,000.

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.