Northpointe Bancshares (NYSE:NPB – Free Report) had its price objective reduced by Keefe, Bruyette & Woods from $22.00 to $21.00 in a research report released on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.
Several other research firms have also recently issued reports on NPB. Piper Sandler increased their price objective on shares of Northpointe Bancshares from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, July 2nd. Weiss Ratings reissued a “sell (d)” rating on shares of Northpointe Bancshares in a report on Friday, May 29th. Finally, Brean Capital assumed coverage on Northpointe Bancshares in a research report on Wednesday, April 22nd. They issued a “neutral” rating and a $20.25 target price for the company. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $20.62.
View Our Latest Analysis on NPB
Northpointe Bancshares Stock Performance
Northpointe Bancshares (NYSE:NPB – Get Free Report) last released its earnings results on Tuesday, July 21st. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.08). Northpointe Bancshares had a net margin of 17.72% and a return on equity of 15.10%. The company had revenue of $64.32 million for the quarter. Sell-side analysts predict that Northpointe Bancshares will post 2.63 earnings per share for the current fiscal year.
Northpointe Bancshares Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 4th. Stockholders of record on Wednesday, July 15th will be given a dividend of $0.025 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.6%. Northpointe Bancshares’s payout ratio is 4.33%.
Insider Buying and Selling at Northpointe Bancshares
In related news, CEO Charles Alan Williams purchased 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were purchased at an average price of $17.21 per share, with a total value of $430,250.00. Following the purchase, the chief executive officer owned 2,312,650 shares of the company’s stock, valued at $39,800,706.50. This trade represents a 1.09% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David Stevens Hooker sold 7,500 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $19.30, for a total value of $144,750.00. Following the sale, the director owned 10,500 shares in the company, valued at approximately $202,650. The trade was a 41.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 22,500 shares of company stock valued at $410,141. 18.30% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in NPB. JPMorgan Chase & Co. raised its holdings 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 valued at $2,108,000 after acquiring an additional 66,798 shares during the period. Rockefeller Capital Management L.P. acquired a new position in Northpointe Bancshares in the 4th quarter worth approximately $965,000. Hsbc Holdings PLC boosted its stake in 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 during the period. Mendon Capital Advisors Corp grew its position in Northpointe Bancshares by 86.4% during the 1st quarter. Mendon Capital Advisors Corp now owns 308,624 shares of the company’s stock worth $5,327,000 after purchasing an additional 143,010 shares in the last quarter. Finally, Pale Fire Capital SE purchased a new position in Northpointe Bancshares during the 1st quarter worth approximately $177,000.
About Northpointe Bancshares
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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