Northpointe Bancshares (NYSE:NPB) Director Sells 7,500 Shares

Northpointe Bancshares, Inc. (NYSE:NPB) Director David Stevens Hooker sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $19.30, for a total transaction of $144,750.00. Following the sale, the director directly owned 10,500 shares in the company, valued at approximately $202,650. The trade was a 41.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

David Stevens Hooker also recently made the following trade(s):

• On Tuesday, June 9th, David Stevens Hooker sold 2,351 shares of Northpointe Bancshares stock. The stock was sold at an average price of $17.70, for a total transaction of $41,612.70.
• On Monday, June 8th, David Stevens Hooker sold 739 shares of Northpointe Bancshares stock. The stock was sold at an average price of $17.52, for a total value of $12,947.28.
• On Friday, June 5th, David Stevens Hooker sold 285 shares of Northpointe Bancshares stock. The shares were sold at an average price of $17.52, for a total value of $4,993.20.
• On Tuesday, June 2nd, David Stevens Hooker sold 4,125 shares of Northpointe Bancshares stock. The stock was sold at an average price of $17.50, for a total value of $72,187.50.
• On Friday, May 1st, David Stevens Hooker sold 7,500 shares of Northpointe Bancshares stock. The stock was sold at an average price of $17.82, for a total transaction of $133,650.00.

Northpointe Bancshares Stock Down 2.4%

Northpointe Bancshares stock traded down $0.46 during trading on Thursday, reaching $18.85. The stock had a trading volume of 269,102 shares, compared to its average volume of 244,482. The company has a quick ratio of 1.38, a current ratio of 1.44 and a debt-to-equity ratio of 2.96. Northpointe Bancshares, Inc. has a 52-week low of $13.66 and a 52-week high of $19.71. The stock has a market cap of $651.97 million and a PE ratio of 8.49. The business has a 50 day moving average price of $17.72 and a 200 day moving average price of $17.68.

Northpointe Bancshares (NYSE:NPB) last announced its quarterly earnings data on Tuesday, April 21st. The company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates 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, analysts predict that Northpointe Bancshares, Inc. will post 2.72 EPS for the current year.

Northpointe Bancshares Dividend Announcement

The firm also recently declared 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 dividend payout ratio (DPR) is currently 4.50%.

Hedge Funds Weigh In On Northpointe Bancshares

Several hedge funds have recently made changes to their positions in NPB. Adage Capital Partners GP L.L.C. boosted its position in shares of Northpointe Bancshares by 122.0% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,694,728 shares of the company’s stock worth $23,235,000 after purchasing an additional 931,240 shares in the last quarter. Goldman Sachs Group Inc. acquired a new position in Northpointe Bancshares during the first quarter worth about $9,908,000. Vanguard Group Inc. lifted its holdings in shares of Northpointe Bancshares by 84.1% in the third quarter. Vanguard Group Inc. now owns 1,063,156 shares of the company’s stock valued at $18,159,000 after purchasing an additional 485,525 shares in the last quarter. Millennium Management LLC grew its position in shares of Northpointe Bancshares by 462.4% in the third quarter. Millennium Management LLC now owns 373,891 shares of the company’s stock valued at $6,386,000 after purchasing an additional 307,409 shares during the last quarter. Finally, Mendon Capital Advisors Corp raised its position in shares of 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 during the last quarter.

Analyst Ratings Changes

NPB has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Northpointe Bancshares in a report on Friday, May 29th. Piper Sandler upped their price target on Northpointe Bancshares from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Brean Capital assumed coverage on shares of Northpointe Bancshares in a research note on Wednesday, April 22nd. They issued a “neutral” rating and a $20.25 price target on the stock. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $20.50.

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.