Northpointe Bancshares, Inc. (NYSE:NPB – Get Free Report) Director Rajeev Kumar Chaudhary acquired 3,000 shares of the stock in a transaction that occurred on Wednesday, October 28th. The stock was purchased at an average price of $15.80 per share, for a total transaction of $47,400.00. Following the completion of the transaction, the director owned 3,000 shares in the company, valued at $47,400. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.
Northpointe Bancshares Price Performance
Shares of NYSE:NPB opened at $16.20 on Friday. Northpointe Bancshares, Inc. has a 52 week low of $13.80 and a 52 week high of $19.71. The company has a 50-day moving average price of $16.14 and a 200 day moving average price of $17.36. The company has a market cap of $560.20 million, a P/E ratio of 7.60 and a beta of 0.16. The company has a quick ratio of 1.34, a current ratio of 1.40 and a debt-to-equity ratio of 2.66.
Northpointe Bancshares (NYSE:NPB – Get Free Report) last released its quarterly earnings data on Tuesday, October 20th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.21). Northpointe Bancshares had a return on equity of 13.88% and a net margin of 16.27%. The company had revenue of $55.92 million for the quarter. Research analysts predict that Northpointe Bancshares, Inc. will post 1.80 earnings per share for the current year.
Northpointe Bancshares Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 4th. Investors of record on Thursday, October 15th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.7%. This is an increase 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 5.63%.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the company. Piper Sandler reduced their price target 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. 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 reduced 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. Finally, Zacks Research raised Northpointe Bancshares from a “strong sell” rating to a “hold” rating in a research note on Monday, October 5th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $20.25.
Get Our Latest Analysis on NPB
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NPB. Bank of America Corp DE lifted its stake in shares of Northpointe Bancshares by 126.9% in the 1st quarter. Bank of America Corp DE now owns 215,544 shares of the company’s stock valued at $3,720,000 after purchasing an additional 120,554 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Northpointe Bancshares in the second quarter valued at approximately $1,756,000. Mendon Capital Advisors Corp raised its holdings in Northpointe Bancshares by 86.4% in the first 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 during the period. Rockefeller Capital Management L.P. acquired a new position in Northpointe Bancshares during the fourth quarter valued at approximately $965,000. Finally, Segall Bryant & Hamill LLC acquired a new position in Northpointe Bancshares during the first quarter valued at approximately $1,515,000.
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.
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