Northpointe Bancshares, Inc. (NYSE:NPB – Get 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
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:NPB – Get 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
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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