Analysts Set Northpointe Bancshares, Inc. (NYSE:NPB) PT at $20.62

Northpointe Bancshares, Inc. (NYSE:NPB) has earned a consensus recommendation of “Hold” from the five analysts that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $21.0833.

Several research analysts recently commented on the company. Zacks Research cut Northpointe Bancshares from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Piper Sandler lifted their price objective on Northpointe Bancshares from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, July 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Northpointe Bancshares in a research report on Wednesday. Finally, Keefe, Bruyette & Woods cut their target price on Northpointe Bancshares from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Thursday, July 23rd.

Northpointe Bancshares Stock Performance

Northpointe Bancshares stock opened at $17.05 on Monday. Northpointe Bancshares has a 12-month low of $15.42 and a 12-month high of $19.71. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.40 and a quick ratio of 1.34. The company has a market capitalization of $589.59 million, a price-to-earnings ratio of 7.38 and a beta of 0.07. The firm’s fifty day moving average price is $17.85 and its 200 day moving average price is $17.73.

Northpointe Bancshares (NYSE:NPB) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.08). The firm had revenue of $64.32 million during the quarter. Northpointe Bancshares had a net margin of 17.72% and a return on equity of 14.99%. On average, research analysts forecast that Northpointe Bancshares will post 2.48 EPS for the current fiscal year.

Northpointe Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 4th. Investors of record on Wednesday, July 15th were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Wednesday, July 15th. Northpointe Bancshares’s payout ratio is 4.33%.

Insider Buying and Selling at Northpointe Bancshares

In other Northpointe Bancshares news, Director David Stevens Hooker sold 7,500 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $19.30, for a total transaction of $144,750.00. Following the transaction, the director directly owned 10,500 shares in the company, valued at $202,650. This represents a 41.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles Alan Williams acquired 48,312 shares of the firm’s stock in a transaction on Wednesday, August 26th. The shares were bought at an average cost of $16.95 per share, with a total value of $818,888.40. Following the completion of the acquisition, the chief executive officer owned 2,390,962 shares in the company, valued at $40,526,805.90. This represents a 2.06% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 15,772 shares of company stock worth $290,001 over the last ninety days. 18.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Northpointe Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of NPB. Adage Capital Partners GP L.L.C. grew its position in shares of Northpointe Bancshares by 122.0% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,694,728 shares of the company’s stock worth $23,235,000 after acquiring an additional 931,240 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of Northpointe Bancshares during the 1st quarter valued at approximately $9,908,000. Vanguard Group Inc. raised its position in shares of Northpointe Bancshares by 84.1% during the 3rd quarter. Vanguard Group Inc. now owns 1,063,156 shares of the company’s stock valued at $18,159,000 after acquiring an additional 485,525 shares in the last quarter. Millennium Management LLC lifted its stake in Northpointe Bancshares by 462.4% during the third quarter. Millennium Management LLC now owns 373,891 shares of the company’s stock worth $6,386,000 after purchasing an additional 307,409 shares during the last quarter. Finally, Mendon Capital Advisors Corp lifted its stake in Northpointe Bancshares by 86.4% during the first quarter. Mendon Capital Advisors Corp now owns 308,624 shares of the company’s stock worth $5,327,000 after purchasing an additional 143,010 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.