Northpointe Bancshares (NYSE:NPB) Issues Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Northpointe Bancshares (NYSE:NPB) announced its earnings results on Tuesday. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.08), Zacks reports. Northpointe Bancshares had a net margin of 17.92% and a return on equity of 14.80%.

Northpointe Bancshares Stock Down 0.5%

NPB traded down $0.09 during trading hours on Tuesday, hitting $18.64. 131,689 shares of the company’s stock were exchanged, compared to its average volume of 235,301. Northpointe Bancshares has a 12-month low of $14.11 and a 12-month high of $19.71. The firm has a 50 day moving average of $18.00 and a 200 day moving average of $17.80. The firm has a market cap of $644.57 million and a P/E ratio of 8.40. The company has a current ratio of 1.44, a quick ratio of 1.38 and a debt-to-equity ratio of 2.96.

Northpointe Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 4th. Investors of record on Wednesday, July 15th will be paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, July 15th. Northpointe Bancshares’s dividend payout ratio is presently 4.50%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on NPB shares. Piper Sandler raised their price target on Northpointe Bancshares from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, July 2nd. Brean Capital initiated coverage on Northpointe Bancshares in a report on Wednesday, April 22nd. They issued a “neutral” rating and a $20.25 price objective on the stock. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Northpointe Bancshares in a research note on Friday, May 29th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.50.

Insider Activity at Northpointe Bancshares

In related news, CEO Charles Alan Williams acquired 25,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David Stevens Hooker sold 7,500 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $17.82, for a total value of $133,650.00. Following the sale, the director directly owned 11,500 shares in the company, valued at $204,930. This represents a 39.47% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 22,500 shares of company stock valued at $410,141 in the last three months. 18.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. raised its position in 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 valued at $23,235,000 after purchasing an additional 931,240 shares in the last quarter. Goldman Sachs Group Inc. acquired a new position in shares of Northpointe Bancshares during the first quarter worth about $9,908,000. Vanguard Group Inc. grew its position in shares of Northpointe Bancshares by 84.1% during the third quarter. Vanguard Group Inc. now owns 1,063,156 shares of the company’s stock worth $18,159,000 after buying an additional 485,525 shares in the last quarter. Millennium Management LLC increased its stake in shares of 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 buying an additional 307,409 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Northpointe Bancshares by 111.4% during the fourth quarter. JPMorgan Chase & Co. now owns 260,874 shares of the company’s stock worth $4,377,000 after buying an additional 137,466 shares during the period.

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.