Northpointe Bancshares, Inc. (NYSE:NPB) Short Interest Up 60.7% in May

Northpointe Bancshares, Inc. (NYSE:NPB) was the recipient of a significant growth in short interest in May. As of May 29th, there was short interest totaling 428,777 shares, a growth of 60.7% from the May 14th total of 266,872 shares. Currently, 1.5% of the shares of the stock are short sold. Based on an average trading volume of 113,643 shares, the days-to-cover ratio is presently 3.8 days.

Northpointe Bancshares Price Performance

Northpointe Bancshares stock traded up $0.17 during trading hours on Tuesday, hitting $18.01. The stock had a trading volume of 4,028 shares, compared to its average volume of 239,734. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.44 and a quick ratio of 1.38. The stock has a market capitalization of $622.61 million, a price-to-earnings ratio of 8.11 and a beta of 0.12. Northpointe Bancshares has a 1-year low of $12.86 and a 1-year high of $19.48. The stock’s fifty day moving average is $17.74 and its two-hundred day moving average is $17.61.

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

Northpointe Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Wednesday, April 15th were issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Wednesday, April 15th. Northpointe Bancshares’s payout ratio is 4.50%.

Insider Buying and Selling at Northpointe Bancshares

In other Northpointe Bancshares news, CEO Charles Alan Williams acquired 25,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was purchased at an average price of $17.21 per share, for a total transaction of $430,250.00. Following the completion of the transaction, the chief executive officer owned 2,312,650 shares of the company’s stock, valued at $39,800,706.50. The trade was a 1.09% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David Stevens Hooker sold 7,500 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $17.82, for a total value of $133,650.00. Following the completion of the transaction, the director owned 11,500 shares of the company’s stock, valued at $204,930. The trade was a 39.47% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 15,000 shares of company stock valued at $265,391 in the last quarter. 18.30% of the stock is currently owned by company insiders.

Institutional Trading of Northpointe Bancshares

Large investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC acquired a new stake in shares of Northpointe Bancshares during the first quarter valued at $26,000. State of Alaska Department of Revenue acquired a new stake in shares of Northpointe Bancshares during the fourth quarter valued at $40,000. State of Wyoming acquired a new stake in shares of Northpointe Bancshares during the second quarter valued at $54,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Northpointe Bancshares during the second quarter valued at $79,000. Finally, Police & Firemen s Retirement System of New Jersey boosted its stake in shares of Northpointe Bancshares by 131.2% during 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 acquiring an additional 3,135 shares during the last quarter.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Northpointe Bancshares in a research report on Friday, May 29th. Brean Capital assumed coverage on Northpointe Bancshares in a research report on Wednesday, April 22nd. They issued a “neutral” rating and a $20.25 price objective for the company. One investment 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’s stock. Based on data from MarketBeat, Northpointe Bancshares currently has an average rating of “Hold” and an average price target of $19.83.

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.