Northpointe Bancshares, Inc. (NYSE:NPB – Get Free Report)’s share price reached a new 52-week low during trading on Wednesday. The company traded as low as $15.40 and last traded at $15.5210, with a volume of 175775 shares. The stock had previously closed at $15.91.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the company. Piper Sandler raised their target price on Northpointe Bancshares from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, July 2nd. Keefe, Bruyette & Woods dropped their target price on shares of Northpointe Bancshares from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Thursday, July 23rd. Weiss Ratings upgraded shares of Northpointe Bancshares from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, September 9th. Finally, Zacks Research cut shares of Northpointe Bancshares from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $21.08.
Read Our Latest Research Report on Northpointe Bancshares
Northpointe Bancshares Stock Performance
Northpointe Bancshares (NYSE:NPB – Get Free Report) last released its earnings results on Tuesday, July 21st. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.08). The business had revenue of $64.32 million for the quarter. Northpointe Bancshares had a net margin of 17.72% and a return on equity of 14.99%. On average, analysts expect that Northpointe Bancshares, Inc. will post 2.48 EPS for the current year.
Northpointe Bancshares Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 4th. Investors of record on Wednesday, July 15th were issued a $0.0250 dividend. This represents a $0.10 annualized dividend and a yield of 0.7%. The ex-dividend date was Wednesday, July 15th. Northpointe Bancshares’s dividend payout ratio is currently 4.33%.
Insider Buying and Selling
In other Northpointe Bancshares news, CEO Charles Williams acquired 48,312 shares of Northpointe Bancshares stock in a transaction on Wednesday, August 26th. The shares were purchased at an average cost of $16.95 per share, with a total value of $818,888.40. Following the completion of the purchase, the chief executive officer owned 2,390,962 shares in the company, valued at $40,526,805.90. The trade was a 2.06% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David Hooker sold 7,500 shares of Northpointe Bancshares stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $19.30, for a total transaction of $144,750.00. Following the sale, the director directly owned 10,500 shares of the company’s stock, valued at $202,650. This represents a 41.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 18.30% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Northpointe Bancshares
Institutional investors have recently made changes to their positions in the stock. Mendon Capital Advisors Corp increased its position in shares of Northpointe Bancshares by 86.4% in the 1st quarter. Mendon Capital Advisors Corp now owns 308,624 shares of the company’s stock valued at $5,327,000 after buying an additional 143,010 shares in the last quarter. Bank of America Corp DE lifted its holdings in Northpointe Bancshares by 126.9% during the first quarter. Bank of America Corp DE now owns 215,544 shares of the company’s stock worth $3,720,000 after acquiring an additional 120,554 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Northpointe Bancshares in the second quarter valued at about $1,756,000. Segall Bryant & Hamill LLC acquired a new position in Northpointe Bancshares in the first quarter valued at about $1,515,000. Finally, Rockefeller Capital Management L.P. bought a new stake in shares of Northpointe Bancshares in the fourth quarter worth about $965,000.
About Northpointe Bancshares
Northpointe Bancshares, Inc is a bank holding company headquartered in Grand Rapids, Michigan. Through its principal subsidiary, Northpointe Bank, the company provides consumer, residential mortgage and commercial banking services to individuals, families, entrepreneurs and businesses.
Northpointe Bank offers deposit products such as checking and savings accounts, money market accounts and certificates of deposit. Its lending activities include residential mortgages, home equity financing, personal loans, commercial real estate loans and other business financing.
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