Short Interest in Northpointe Bancshares, Inc. (NYSE:NPB) Declines By 35.1%

Northpointe Bancshares, Inc. (NYSE:NPBGet Free Report) was the target of a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 325,523 shares, a drop of 35.1% from the June 15th total of 501,200 shares. Approximately 1.2% of the company’s shares are sold short. Based on an average trading volume of 265,465 shares, the days-to-cover ratio is presently 1.2 days.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Brean Capital started coverage on Northpointe Bancshares in a research note on Wednesday, April 22nd. They set a “neutral” rating and a $20.25 price target on the stock. Piper Sandler upped their price objective on shares of Northpointe Bancshares from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, July 2nd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Northpointe Bancshares in a report on Friday, May 29th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $20.50.

Read Our Latest Research Report on Northpointe Bancshares

Insider Activity at Northpointe Bancshares

In other Northpointe Bancshares news, Director David Stevens Hooker sold 7,500 shares of the firm’s 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 transaction, the director directly owned 10,500 shares in the company, valued at $202,650. This trade represents a 41.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles Alan Williams bought 25,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were purchased at an average cost of $17.21 per share, with a total value of $430,250.00. Following the completion of the transaction, the chief executive officer owned 2,312,650 shares in the company, valued at $39,800,706.50. This represents a 1.09% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 22,500 shares of company stock valued at $410,141 in the last ninety days. Insiders own 18.30% of the company’s stock.

Hedge Funds Weigh In On Northpointe Bancshares

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of Northpointe Bancshares by 118.0% during the third quarter. JPMorgan Chase & Co. now owns 123,408 shares of the company’s stock worth $2,108,000 after purchasing an additional 66,798 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new stake in shares of Northpointe Bancshares in the 4th quarter worth $965,000. Hsbc Holdings PLC boosted its position in shares of Northpointe Bancshares by 156.8% in the 4th quarter. Hsbc Holdings PLC now owns 65,852 shares of the company’s stock worth $1,102,000 after purchasing an additional 40,207 shares in the last quarter. Pale Fire Capital SE purchased a new position in Northpointe Bancshares during the 1st quarter worth $177,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Northpointe Bancshares during the 1st quarter worth $361,000.

Northpointe Bancshares Stock Down 1.8%

Shares of NYSE NPB opened at $18.82 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.38 and a debt-to-equity ratio of 2.96. The stock has a market capitalization of $650.80 million and a PE ratio of 8.48. The stock’s fifty day simple moving average is $17.97 and its two-hundred day simple moving average is $17.78. Northpointe Bancshares has a 12-month low of $14.11 and a 12-month high of $19.71.

Northpointe Bancshares (NYSE:NPBGet Free Report) last released its quarterly earnings results on Tuesday, April 21st. The company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.04). The company had revenue of $63.42 million during the quarter. Northpointe Bancshares had a return on equity of 14.80% and a net margin of 17.92%. As a group, analysts expect that Northpointe Bancshares will post 2.72 EPS for the current fiscal year.

Northpointe Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 4th. Shareholders of record on Wednesday, July 15th will be paid a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.5%. The ex-dividend date is Wednesday, July 15th. Northpointe Bancshares’s payout ratio is 4.50%.

Northpointe Bancshares Company Profile

(Get Free Report)

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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