Northpointe Bancshares (NYSE:NPB) Hits New 52-Week High – What’s Next?

Northpointe Bancshares, Inc. (NYSE:NPB) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $19.56 and last traded at $19.3960, with a volume of 115426 shares changing hands. The stock had previously closed at $19.18.

Analyst Ratings Changes

Several research firms recently weighed in on NPB. Brean Capital assumed coverage on Northpointe Bancshares in a research note on Wednesday, April 22nd. They set a “neutral” rating and a $20.25 target price for the company. Weiss Ratings reissued 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 issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Northpointe Bancshares currently has an average rating of “Hold” and an average target price of $19.83.

Northpointe Bancshares Stock Performance

The firm has a fifty day simple moving average of $17.72 and a 200-day simple moving average of $17.67. The company has a quick ratio of 1.38, a current ratio of 1.44 and a debt-to-equity ratio of 2.96. The company has a market cap of $669.64 million, a PE ratio of 8.72 and a beta of 0.12.

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%. On average, research analysts forecast that Northpointe Bancshares, Inc. will post 2.72 EPS for the current fiscal year.

Northpointe Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Wednesday, April 15th were paid a $0.025 dividend. The ex-dividend date was Wednesday, April 15th. This represents a $0.10 dividend on an annualized basis and a yield of 0.5%. Northpointe Bancshares’s payout ratio is currently 4.50%.

Insider Activity at Northpointe Bancshares

In other news, Director David Stevens Hooker sold 2,351 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $17.70, for a total transaction of $41,612.70. Following the transaction, the director directly owned 11,000 shares in the company, valued at approximately $194,700. This trade represents a 17.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles Alan Williams bought 25,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average cost of $17.21 per share, for a total transaction of $430,250.00. Following the completion of the acquisition, the chief executive officer directly owned 2,312,650 shares in the company, valued at approximately $39,800,706.50. This trade represents a 1.09% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 15,000 shares of company stock valued at $265,391 over the last three months. Corporate insiders own 18.30% of the company’s stock.

Institutional Investors Weigh In On Northpointe Bancshares

Institutional investors and hedge funds have recently made changes to their positions in the business. Segall Bryant & Hamill LLC acquired a new position in Northpointe Bancshares in the 1st quarter valued at about $1,515,000. Bank of America Corp DE grew its stake in shares of Northpointe Bancshares by 126.9% in the 1st quarter. Bank of America Corp DE now owns 215,544 shares of the company’s stock valued at $3,720,000 after purchasing an additional 120,554 shares during the last quarter. Mendon Capital Advisors Corp increased its holdings in shares of Northpointe Bancshares by 86.4% in the first quarter. Mendon Capital Advisors Corp now owns 308,624 shares of the company’s stock valued at $5,327,000 after purchasing an additional 143,010 shares during the period. Pale Fire Capital SE purchased a new stake in shares of Northpointe Bancshares during the first quarter worth approximately $177,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Northpointe Bancshares during the first quarter worth $172,000.

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.