Northpointe Bancshares, Inc. (NYSE:NPB) Receives $20.62 Consensus Target Price from Analysts

Northpointe Bancshares, Inc. (NYSE:NPB) has received a consensus recommendation of “Hold” from the six brokerages that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $20.6250.

A number of equities research analysts recently weighed in on the company. Weiss Ratings restated a “sell (d)” rating on shares of Northpointe Bancshares in a report on Friday, May 29th. Piper Sandler upped their target price on Northpointe Bancshares from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, July 2nd. Zacks Research cut Northpointe Bancshares from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Brean Capital initiated coverage on shares of Northpointe Bancshares in a research report on Wednesday, April 22nd. They issued a “neutral” rating and a $20.25 price objective on the stock. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Northpointe Bancshares from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Thursday, July 23rd.

Northpointe Bancshares Stock Performance

NYSE:NPB opened at $17.24 on Thursday. The firm’s fifty day simple moving average is $18.02 and its 200-day simple moving average is $17.81. The company has a quick ratio of 1.38, a current ratio of 1.44 and a debt-to-equity ratio of 2.96. The stock has a market cap of $596.26 million, a PE ratio of 7.46 and a beta of 0.07. Northpointe Bancshares has a fifty-two week low of $14.49 and a fifty-two week high of $19.71.

Northpointe Bancshares (NYSE:NPB) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.08). Northpointe Bancshares had a net margin of 17.72% and a return on equity of 15.10%. The company had revenue of $64.32 million during the quarter. Analysts expect that Northpointe Bancshares will post 2.48 earnings per share for the current fiscal year.

Northpointe Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 4th. Shareholders of record on Wednesday, July 15th were issued 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 Wednesday, July 15th. Northpointe Bancshares’s dividend payout ratio is 4.33%.

Insider Activity at Northpointe Bancshares

In other news, Director David Stevens Hooker sold 7,500 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $19.30, for a total value of $144,750.00. Following the sale, the director directly owned 10,500 shares in the company, valued at $202,650. This represents a 41.67% decrease in their ownership of the stock. 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 acquired 25,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average cost of $17.21 per share, with a total value of $430,250.00. Following the completion of the purchase, the chief executive officer owned 2,312,650 shares in the company, valued at approximately $39,800,706.50. This represents a 1.09% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 15,000 shares of company stock worth $276,491 over the last quarter. Company insiders own 18.30% of the company’s stock.

Hedge Funds Weigh In On Northpointe Bancshares

Several hedge funds have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC purchased a new stake in shares of Northpointe Bancshares in the first quarter valued at $26,000. State of Alaska Department of Revenue acquired a new stake in shares of Northpointe Bancshares during the fourth quarter valued at $40,000. State of Wyoming purchased a new stake in Northpointe Bancshares during the 2nd quarter worth about $54,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Northpointe Bancshares during the 2nd quarter worth about $79,000. Finally, Police & Firemen s Retirement System of New Jersey raised its stake in Northpointe Bancshares by 131.2% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 5,524 shares of the company’s stock valued at $93,000 after purchasing an additional 3,135 shares during the last quarter.

About Northpointe Bancshares

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.