Northpointe Bancshares (NYSE:NPB) Sets New 1-Year High – Here’s What Happened

Northpointe Bancshares, Inc. (NYSE:NPB)’s share price hit a new 52-week high on Thursday . The stock traded as high as $19.48 and last traded at $19.33, with a volume of 248418 shares trading hands. The stock had previously closed at $18.22.

Analysts Set New Price Targets

Several research firms have recently weighed in on NPB. Piper Sandler raised their price objective on shares of Northpointe Bancshares from $19.50 to $20.00 and gave the company an “overweight” rating in a research report on Monday, December 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Northpointe Bancshares in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.08.

Northpointe Bancshares Stock Performance

The company has a quick ratio of 1.34, a current ratio of 1.39 and a debt-to-equity ratio of 2.24. The stock’s 50-day moving average price is $17.31 and its 200 day moving average price is $16.80. The company has a market cap of $655.95 million and a P/E ratio of 9.13.

Northpointe Bancshares (NYSE:NPB) last announced its earnings results on Tuesday, January 20th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.08). The company had revenue of $65.14 million for the quarter, compared to the consensus estimate of $64.70 million. Northpointe Bancshares had a return on equity of 13.79% and a net margin of 17.70%.

Northpointe Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 3rd. Shareholders of record on Thursday, January 15th will be given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Thursday, January 15th. Northpointe Bancshares’s dividend payout ratio is 6.37%.

Institutional Investors Weigh In On Northpointe Bancshares

A number of large investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC bought a new stake in shares of Northpointe Bancshares during the first quarter valued at approximately $26,000. Goldman Sachs Group Inc. acquired a new position in shares of Northpointe Bancshares in the 1st quarter valued at $9,908,000. Jane Street Group LLC bought a new stake in shares of Northpointe Bancshares in the first quarter worth about $146,000. Zhang Financial LLC acquired a new stake in Northpointe Bancshares during the 2nd quarter worth approximately $1,384,000. Finally, Boston Partners lifted its position in Northpointe Bancshares by 23.0% in the 2nd quarter. Boston Partners now owns 38,684 shares of the company’s stock valued at $530,000 after acquiring an additional 7,241 shares in 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.