Northpointe Bancshares (NYSE:NPB) Announces Quarterly Earnings Results

Northpointe Bancshares (NYSE:NPB) posted its quarterly earnings data on Tuesday. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.21), Zacks reports. The business had revenue of $55.92 million during the quarter. Northpointe Bancshares had a net margin of 17.72% and a return on equity of 14.99%.

Northpointe Bancshares Price Performance

Shares of NYSE:NPB traded up $0.48 during trading on Tuesday, reaching $15.80. The stock had a trading volume of 287,349 shares, compared to its average volume of 238,724. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.34 and a current ratio of 1.40. The business has a fifty day moving average price of $16.40 and a 200-day moving average price of $17.36. The stock has a market cap of $546.36 million, a PE ratio of 6.84 and a beta of 0.16. Northpointe Bancshares has a 1-year low of $14.20 and a 1-year high of $19.71.

Northpointe Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 4th. Stockholders of record on Thursday, October 15th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.8%. This is a boost from Northpointe Bancshares’s previous quarterly dividend of $0.0250. The ex-dividend date is Thursday, October 15th. Northpointe Bancshares’s dividend payout ratio (DPR) is 5.19%.

Insider Activity at Northpointe Bancshares

In other news, CEO Charles Williams acquired 48,312 shares of Northpointe Bancshares stock in a transaction that occurred on Wednesday, August 26th. The stock was purchased at an average cost of $16.95 per share, with a total value of $818,888.40. Following the purchase, the chief executive officer owned 2,390,962 shares in the company, valued at $40,526,805.90. This trade represents a 2.06% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 18.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NPB. Weiss Ratings upgraded Northpointe Bancshares from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, September 9th. 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, Piper Sandler decreased their price objective on shares of Northpointe Bancshares from $21.50 to $20.00 and set an “overweight” rating on the stock in a report on Friday, October 9th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Northpointe Bancshares currently has an average rating of “Hold” and a consensus target price of $20.42.

Northpointe Bancshares Company Profile

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 and lending services to consumers and businesses.

Northpointe Bank offers residential mortgage products, including loans for home purchases and refinancing, as well as home equity lending. Its deposit products include checking, savings, money market and certificate of deposit accounts. The bank also provides personal and commercial banking services designed to meet the borrowing, cash-management and deposit needs of individuals and businesses.

Through a combination of digital banking capabilities, mortgage lending channels and its physical banking presence, Northpointe serves customers in Michigan and markets across the United States.