Northpointe Bancshares (NYSE:NPB) Stock Gets Price Target Reduction from Piper Sandler

Northpointe Bancshares (NYSE:NPB) had its price target cut by Piper Sandler from $20.00 to $19.50 in a research note published on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages also recently weighed in on NPB. Keefe, Bruyette & Woods cut their price target on shares of Northpointe Bancshares from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd. Zacks Research upgraded shares of Northpointe Bancshares from a “strong sell” rating to a “hold” rating in a research report on Monday, October 5th. Finally, Weiss Ratings raised shares of Northpointe Bancshares from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, September 9th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Northpointe Bancshares currently has a consensus rating of “Hold” and an average price target of $20.25.

Northpointe Bancshares Trading Down 0.2%

Shares of Northpointe Bancshares stock opened at $15.42 on Thursday. The company has a quick ratio of 1.34, a current ratio of 1.40 and a debt-to-equity ratio of 2.66. The firm has a market cap of $533.12 million, a price-to-earnings ratio of 7.24 and a beta of 0.16. The business has a fifty day simple moving average of $16.25 and a 200-day simple moving average of $17.31. Northpointe Bancshares has a fifty-two week low of $13.80 and a fifty-two week high of $19.71.

Northpointe Bancshares (NYSE:NPB) last announced its earnings results on Tuesday, October 20th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.21). The firm had revenue of $55.92 million for the quarter. Northpointe Bancshares had a net margin of 16.27% and a return on equity of 13.88%. On average, equities analysts forecast that Northpointe Bancshares will post 1.80 EPS for the current fiscal year.

Northpointe Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 4th. Shareholders of record on Thursday, October 15th will be issued a $0.03 dividend. This is an increase from Northpointe Bancshares’s previous quarterly dividend of $0.0250. This represents a $0.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, October 15th. Northpointe Bancshares’s dividend payout ratio is currently 5.63%.

Insider Activity at Northpointe Bancshares

In related news, CEO Charles Williams acquired 48,312 shares of the business’s stock in a transaction dated Wednesday, August 26th. The stock was bought at an average price of $16.95 per share, for a total transaction of $818,888.40. Following the transaction, the chief executive officer owned 2,390,962 shares of the company’s stock, valued at approximately $40,526,805.90. The trade was a 2.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 18.30% of the company’s stock.

Hedge Funds Weigh In On Northpointe Bancshares

A number of hedge funds have recently modified their holdings of NPB. State of Alaska Department of Revenue lifted its holdings in shares of Northpointe Bancshares by 62.8% during the third quarter. State of Alaska Department of Revenue now owns 3,920 shares of the company’s stock valued at $57,000 after purchasing an additional 1,512 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Northpointe Bancshares in the 1st quarter valued at $172,000. Pale Fire Capital SE purchased a new position in Northpointe Bancshares in the 1st quarter worth about $177,000. WINTON GROUP Ltd purchased a new position in Northpointe Bancshares in the 2nd quarter worth about $218,000. Finally, Sterling Capital Management LLC increased its stake in Northpointe Bancshares by 1,109.6% in the 1st quarter. Sterling Capital Management LLC now owns 14,310 shares of the company’s stock worth $247,000 after purchasing an additional 13,127 shares in the last quarter.

About Northpointe Bancshares

Northpointe Bancshares, Inc is a bank holding company headquartered in Grand Rapids, Michigan. It operates through Northpointe Bank, a financial institution focused on providing banking products and lending services to individuals, families, and businesses.

Northpointe Bank offers residential mortgage loans, including home purchase and refinancing products, as well as consumer deposit accounts such as checking, savings, and certificates of deposit. The bank also provides commercial banking services and business loans, serving customers through a combination of digital banking capabilities and banking offices.

Founded in 1999, Northpointe Bank serves customers across the United States, with a particular emphasis on mortgage lending and relationship-based banking.