Northpointe Bancshares (NYSE:NPB) Stock Gets Downgrade from Zacks Research

Northpointe Bancshares (NYSE:NPB) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday, Zacks reports.

NPB has been the subject of a number of other research reports. Piper Sandler lowered their price target on Northpointe Bancshares from $20.00 to $19.50 and set an “overweight” rating for the company in a report on Thursday, October 22nd. Weiss Ratings upgraded Northpointe Bancshares from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, September 9th. Finally, Keefe, Bruyette & Woods reduced their price objective on Northpointe Bancshares from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.25.

Northpointe Bancshares Price Performance

Northpointe Bancshares stock opened at $16.14 on Tuesday. The stock has a market cap of $558.29 million, a price-to-earnings ratio of 7.58 and a beta of 0.09. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.40 and a quick ratio of 1.34. Northpointe Bancshares has a 1 year low of $13.80 and a 1 year high of $19.71. The firm has a 50-day moving average of $16.04 and a two-hundred day moving average of $17.32.

Northpointe Bancshares (NYSE:NPB) last issued its earnings results on Tuesday, October 20th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.21). The company had revenue of $55.92 million during the quarter. Northpointe Bancshares had a return on equity of 13.88% and a net margin of 16.27%. On average, research analysts forecast that Northpointe Bancshares will post 1.80 earnings per share for the current year.

Insider Buying and Selling at Northpointe Bancshares

In other Northpointe Bancshares news, Director Rajeev Kumar Chaudhary bought 3,000 shares of the business’s stock in a transaction on Wednesday, October 28th. The shares were acquired at an average price of $15.80 per share, with a total value of $47,400.00. Following the transaction, the director owned 3,000 shares of the company’s stock, valued at approximately $47,400. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Carrie L. Boer purchased 12,000 shares of Northpointe Bancshares stock in a transaction dated Friday, October 23rd. The stock was acquired at an average price of $15.40 per share, with a total value of $184,800.00. Following the acquisition, the director owned 12,000 shares in the company, valued at approximately $184,800. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 196,552 shares of company stock valued at $3,146,387 in the last 90 days. Insiders own 18.30% of the company’s stock.

Hedge Funds Weigh In On Northpointe Bancshares

Large investors have recently bought and sold shares of the business. State of Alaska Department of Revenue raised its position in shares of Northpointe Bancshares by 62.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 3,920 shares of the company’s stock worth $57,000 after acquiring an additional 1,512 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Northpointe Bancshares during the second quarter valued at about $191,000. Pale Fire Capital SE purchased a new position in Northpointe Bancshares in the first quarter valued at about $177,000. WINTON GROUP Ltd purchased a new position in shares of Northpointe Bancshares in the 2nd quarter worth approximately $218,000. Finally, Strs Ohio raised its stake in shares of Northpointe Bancshares by 640.0% during the 1st quarter. Strs Ohio now owns 14,800 shares of the company’s stock worth $255,000 after acquiring an additional 12,800 shares in the last quarter.

Northpointe Bancshares Company Profile

Northpointe Bancshares, Inc is a bank holding company headquartered in Grand Rapids, Michigan. It operates through Northpointe Bank, a financial institution focused on providing banking products and lending services to individuals, families, and businesses.

Northpointe Bank offers residential mortgage loans, including home purchase and refinancing products, as well as consumer deposit accounts such as checking, savings, and certificates of deposit. The bank also provides commercial banking services and business loans, serving customers through a combination of digital banking capabilities and banking offices.

Founded in 1999, Northpointe Bank serves customers across the United States, with a particular emphasis on mortgage lending and relationship-based banking.