Northpointe Bancshares, Inc. (NYSE:NPB) Short Interest Update

Northpointe Bancshares, Inc. (NYSE:NPB) was the target of a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 492,976 shares, an increase of 53.6% from the December 31st total of 320,976 shares. Currently, 1.8% of the shares of the stock are short sold. Based on an average daily volume of 581,590 shares, the days-to-cover ratio is currently 0.8 days. Based on an average daily volume of 581,590 shares, the days-to-cover ratio is currently 0.8 days. Currently, 1.8% of the shares of the stock are short sold.

Insider Activity

In other Northpointe Bancshares news, EVP Amy M. Butler sold 6,365 shares of the stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $17.50, for a total value of $111,387.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 18.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Northpointe Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NPB. Cubist Systematic Strategies LLC acquired a new position in shares of Northpointe Bancshares during the 1st quarter valued at about $26,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Northpointe Bancshares during the 2nd quarter valued at approximately $33,000. State of Alaska Department of Revenue purchased a new position in Northpointe Bancshares in the fourth quarter worth approximately $40,000. State of Wyoming purchased a new stake in Northpointe Bancshares in the second quarter valued at $54,000. Finally, Federated Hermes Inc. purchased a new position in shares of Northpointe Bancshares during the 3rd quarter worth $82,000.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Piper Sandler increased their price target on Northpointe Bancshares from $19.50 to $20.00 and gave the company an “overweight” rating in a report on Monday, December 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Northpointe Bancshares in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $19.08.

Northpointe Bancshares Stock Performance

Shares of Northpointe Bancshares stock traded up $0.52 on Monday, reaching $17.76. 430,126 shares of the stock were exchanged, compared to its average volume of 526,996. Northpointe Bancshares has a twelve month low of $11.43 and a twelve month high of $19.48. The business has a 50 day moving average price of $17.54 and a two-hundred day moving average price of $16.95. The company has a quick ratio of 1.34, a current ratio of 1.39 and a debt-to-equity ratio of 2.24. The firm has a market capitalization of $610.41 million and a price-to-earnings ratio of 8.50.

Northpointe Bancshares (NYSE:NPB) last announced its quarterly earnings data on Tuesday, January 20th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.08). The business had revenue of $65.14 million for the quarter, compared to analyst estimates of $64.70 million. Northpointe Bancshares had a net margin of 17.70% and a return on equity of 13.79%.

Northpointe Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 3rd. Shareholders of record on Thursday, January 15th will be given a dividend of $0.025 per share. The ex-dividend date is Thursday, January 15th. This represents a $0.10 dividend on an annualized basis and a yield of 0.6%. Northpointe Bancshares’s dividend payout ratio is currently 4.78%.

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.