Northpointe Bancshares (NYSE:NPB) Stock Rating Cut to Strong Sell at Zacks Research

Zacks Research lowered shares of Northpointe Bancshares (NYSE:NPB) from a hold rating to a strong sell rating in a research report sent to investors on Tuesday,Zacks reports.

Several other equities analysts have also recently issued reports on NPB. Keefe, Bruyette & Woods dropped 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. Weiss Ratings raised shares of Northpointe Bancshares from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, September 9th. Finally, Piper Sandler decreased their price objective on Northpointe Bancshares from $20.00 to $19.50 and set an “overweight” rating on the stock in a research note on Thursday, October 22nd. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $20.25.

Northpointe Bancshares Price Performance

Northpointe Bancshares stock opened at $16.14 on Tuesday. Northpointe Bancshares has a 52-week low of $13.80 and a 52-week high of $19.71. The company’s 50 day moving average is $16.04 and its two-hundred day moving average is $17.32. 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 $558.29 million, a PE ratio of 7.58 and a beta of 0.09.

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

Northpointe Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 4th. Shareholders of record on Thursday, October 15th were paid a $0.03 dividend. The ex-dividend date was Thursday, October 15th. This is a positive change from Northpointe Bancshares’s previous quarterly dividend of $0.0250. This represents a $0.12 dividend on an annualized basis and a yield of 0.7%. Northpointe Bancshares’s dividend payout ratio (DPR) is 5.63%.

Insiders Place Their Bets

In related news, COO Joseph B. Long acquired 3,240 shares of the firm’s stock in a transaction dated Friday, October 23rd. The stock was acquired at an average cost of $15.37 per share, for a total transaction of $49,798.80. Following the completion of the acquisition, the chief operating officer directly owned 3,240 shares of the company’s stock, valued at approximately $49,798.80. The trade was a ? increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Carrie L. Boer purchased 12,000 shares of the stock in a transaction dated Friday, October 23rd. The shares were purchased at an average price of $15.40 per share, for a total transaction of $184,800.00. Following the completion of the transaction, the director owned 12,000 shares in the company, valued at $184,800. This trade represents a ? increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have acquired 196,552 shares of company stock valued at $3,146,387. Corporate insiders own 18.30% of the company’s stock.

Institutional Trading of Northpointe Bancshares

Several institutional investors and hedge funds have recently bought and sold shares of NPB. State of Alaska Department of Revenue grew its position in 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 in the last quarter. WINTON GROUP Ltd bought a new stake in Northpointe Bancshares in the second quarter worth $218,000. Squarepoint Ops LLC acquired a new position in Northpointe Bancshares during the second quarter worth $765,000. Pale Fire Capital SE increased its position in Northpointe Bancshares by 29.2% during the second quarter. Pale Fire Capital SE now owns 13,258 shares of the company’s stock worth $254,000 after buying an additional 3,000 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Northpointe Bancshares during the second quarter worth $191,000.

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 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.