Northpointe Bancshares (NYSE:NPB) Sees Strong Trading Volume – Here’s What Happened

Northpointe Bancshares, Inc. (NYSE:NPB) shares saw strong trading volume on Monday . 169,225 shares traded hands during mid-day trading, a decline of 29% from the previous session’s volume of 236,940 shares.The stock last traded at $17.2550 and had previously closed at $17.19.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Brean Capital assumed coverage on Northpointe Bancshares in a research note on Wednesday, April 22nd. They set a “neutral” rating and a $20.25 target price for the company. Piper Sandler increased their price target on Northpointe Bancshares from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, July 2nd. Keefe, Bruyette & Woods decreased their price objective on Northpointe Bancshares from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Thursday, July 23rd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Northpointe Bancshares in a research note on Friday, May 29th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Northpointe Bancshares has a consensus rating of “Hold” and a consensus target price of $20.62.

Northpointe Bancshares Stock Performance

The stock’s 50-day simple moving average is $18.04 and its 200 day simple moving average is $17.82. The company has a market capitalization of $598.75 million and a PE ratio of 7.50. The company has a debt-to-equity ratio of 2.96, a quick ratio of 1.38 and a current ratio of 1.44.

Northpointe Bancshares (NYSE:NPB) last released its quarterly earnings data on Tuesday, July 21st. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.08). The firm had revenue of $64.32 million for the quarter. Northpointe Bancshares had a return on equity of 15.10% and a net margin of 17.72%. As a group, research analysts expect that Northpointe Bancshares, Inc. will post 2.63 earnings per share for the current fiscal year.

Northpointe Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 4th. Shareholders of record on Wednesday, July 15th will be issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, July 15th. Northpointe Bancshares’s payout ratio is 4.33%.

Insider Activity

In other news, Director David Stevens Hooker sold 7,500 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $17.82, for a total transaction of $133,650.00. Following the sale, the director owned 11,500 shares of the company’s stock, valued at approximately $204,930. This trade represents a 39.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles Alan Williams bought 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were acquired at an average price of $17.21 per share, with a total value of $430,250.00. Following the purchase, the chief executive officer owned 2,312,650 shares of the company’s stock, valued at $39,800,706.50. The trade was a 1.09% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have sold 22,500 shares of company stock valued at $410,141. Insiders own 18.30% of the company’s stock.

Institutional Trading of Northpointe Bancshares

Several institutional investors have recently modified their holdings of NPB. Cubist Systematic Strategies LLC acquired a new position in shares of Northpointe Bancshares in the 1st quarter valued at $26,000. State of Alaska Department of Revenue acquired a new stake in Northpointe Bancshares during the 4th quarter worth $40,000. State of Wyoming purchased a new stake in Northpointe Bancshares in the second quarter valued at $54,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Northpointe Bancshares in the second quarter valued at $79,000. Finally, Police & Firemen s Retirement System of New Jersey boosted its stake in Northpointe Bancshares by 131.2% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 5,524 shares of the company’s stock valued at $93,000 after acquiring an additional 3,135 shares in the last quarter.

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.