Northpointe Bancshares (NYSE:NPB – Get Free Report) had its target price cut by equities researchers at Piper Sandler from $20.00 to $19.50 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 28.72% from the company’s current price.
Several other brokerages also recently commented on NPB. Weiss Ratings raised Northpointe Bancshares from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, September 9th. Zacks Research upgraded Northpointe Bancshares from a “strong sell” rating to a “hold” rating in a research report on Monday, October 5th. Finally, Keefe, Bruyette & Woods cut their price objective on Northpointe Bancshares from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Thursday, July 23rd. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $20.25.
View Our Latest Analysis on NPB
Northpointe Bancshares Stock Down 4.0%
Shares of NYSE:NPB opened at $15.15 on Thursday. The company has a fifty day moving average of $16.33 and a 200-day moving average of $17.33. Northpointe Bancshares has a 52-week low of $13.80 and a 52-week high of $19.71. The company has a market capitalization of $523.88 million, a PE ratio of 7.11 and a beta of 0.16. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.34 and a current ratio of 1.40.
Northpointe Bancshares (NYSE:NPB – Get Free Report) last issued its quarterly earnings data on Tuesday, October 20th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.21). The business had revenue of $55.92 million during the quarter. Northpointe Bancshares had a return on equity of 13.88% and a net margin of 16.27%. On average, equities analysts predict that Northpointe Bancshares will post 2.44 EPS for the current fiscal year.
Insider Transactions at Northpointe Bancshares
In other news, CEO Charles Williams purchased 48,312 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were acquired at an average price of $16.95 per share, with a total value of $818,888.40. Following the completion of the transaction, the chief executive officer owned 2,390,962 shares of the company’s stock, valued at $40,526,805.90. The trade was a 2.06% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 18.30% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue lifted its stake in shares of Northpointe Bancshares by 62.8% in the 3rd 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 during the period. Pale Fire Capital SE grew its stake 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 purchasing an additional 3,000 shares during the period. Bank of New York Mellon Corp grew its stake in Northpointe Bancshares by 5.3% during the first quarter. Bank of New York Mellon Corp now owns 88,109 shares of the company’s stock worth $1,521,000 after purchasing an additional 4,451 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Northpointe Bancshares in the first quarter worth approximately $172,000. Finally, WINTON GROUP Ltd acquired a new position in Northpointe Bancshares in the second quarter valued at approximately $218,000.
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 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.
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