Northpointe Bancshares, Inc. (NYSE:NPB – Get Free Report) shares hit a new 52-week high on Wednesday . The company traded as high as $19.56 and last traded at $19.3960, with a volume of 115426 shares trading hands. The stock had previously closed at $19.18.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on NPB shares. Brean Capital began coverage on shares of Northpointe Bancshares in a research note on Wednesday, April 22nd. They issued a “neutral” rating and a $20.25 price target on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Northpointe Bancshares in a report on Friday, May 29th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $19.83.
Read Our Latest Report on Northpointe Bancshares
Northpointe Bancshares Price Performance
Northpointe Bancshares (NYSE:NPB – Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.04). Northpointe Bancshares had a net margin of 17.92% and a return on equity of 14.80%. The business had revenue of $63.42 million during the quarter. As a group, equities analysts forecast that Northpointe Bancshares, Inc. will post 2.72 earnings per share for the current fiscal year.
Northpointe Bancshares Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Wednesday, April 15th were paid a $0.025 dividend. The ex-dividend date was Wednesday, April 15th. This represents a $0.10 annualized dividend and a dividend yield of 0.5%. Northpointe Bancshares’s payout ratio is 4.50%.
Insider Buying and Selling at Northpointe Bancshares
In related news, CEO Charles Alan Williams acquired 25,000 shares of Northpointe Bancshares stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average cost of $17.21 per share, for a total transaction of $430,250.00. Following the completion of the purchase, the chief executive officer owned 2,312,650 shares in the company, valued at approximately $39,800,706.50. The trade was a 1.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Stevens Hooker sold 2,351 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $17.70, for a total value of $41,612.70. Following the completion of the sale, the director directly owned 11,000 shares in the company, valued at $194,700. This represents a 17.61% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 15,000 shares of company stock worth $265,391. Insiders own 18.30% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC acquired a new position in Northpointe Bancshares during the 1st quarter worth approximately $26,000. State of Alaska Department of Revenue purchased a new stake in shares of Northpointe Bancshares during the 4th quarter worth $40,000. State of Wyoming acquired a new position in shares of Northpointe Bancshares during the second quarter worth $54,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Northpointe Bancshares during the second quarter worth $79,000. Finally, Police & Firemen s Retirement System of New Jersey raised its stake in Northpointe Bancshares by 131.2% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 5,524 shares of the company’s stock valued at $93,000 after buying an additional 3,135 shares in the last quarter.
Northpointe Bancshares Company Profile
Northpointe Bancshares, Inc is the bank holding company for Northpointe Bank, an FDIC-insured community bank based in Michigan. The company offers a full range of commercial and consumer banking solutions, serving retail, small business and corporate clients through both a physical branch network and digital platforms.
Northpointe Bank’s product suite includes interest-bearing checking and savings accounts, money market and certificate of deposit offerings, as well as residential mortgage lending, home equity financing and unsecured consumer loans.
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