Northpointe Bancshares (NYSE:NPB) Releases Earnings Results, Misses Estimates By $0.04 EPS

Northpointe Bancshares (NYSE:NPB) issued its earnings results on Tuesday. The company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.04), Zacks reports. Northpointe Bancshares had a return on equity of 14.74% and a net margin of 17.92%.The firm had revenue of $63.42 million for the quarter.

Northpointe Bancshares Trading Down 5.0%

NYSE NPB opened at $17.59 on Thursday. The firm has a market capitalization of $606.78 million, a P/E ratio of 7.92 and a beta of 0.23. The business has a fifty day simple moving average of $17.80 and a 200 day simple moving average of $17.37. Northpointe Bancshares has a 12 month low of $12.52 and a 12 month high of $19.48. The company has a current ratio of 1.40, a quick ratio of 1.34 and a debt-to-equity ratio of 2.70.

Northpointe Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 4th. Investors of record on Wednesday, April 15th will be given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, April 15th. Northpointe Bancshares’s dividend payout ratio is presently 4.78%.

Insider Activity at Northpointe Bancshares

In other news, Director Richard Jeffery Dean sold 57,619 shares of the firm’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $17.55, for a total transaction of $1,011,213.45. Following the completion of the sale, the director directly owned 557,171 shares of the company’s stock, valued at $9,778,351.05. This trade represents a 9.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Amy M. Butler sold 6,365 shares of the firm’s stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $17.50, for a total value of $111,387.50. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 73,895 shares of company stock valued at $1,301,197. 18.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Northpointe Bancshares

Several large investors have recently made changes to their positions in NPB. Adage Capital Partners GP L.L.C. increased 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 valued at $23,235,000 after purchasing an additional 931,240 shares during the last quarter. Goldman Sachs Group Inc. purchased a new position in Northpointe Bancshares in the first quarter valued at about $9,908,000. Vanguard Group Inc. boosted its stake in 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 acquiring an additional 485,525 shares during the last quarter. Millennium Management LLC boosted its stake in 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 acquiring an additional 307,409 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Northpointe Bancshares by 111.4% in the fourth quarter. JPMorgan Chase & Co. now owns 260,874 shares of the company’s stock valued at $4,377,000 after acquiring an additional 137,466 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NPB. Brean Capital began coverage on Northpointe Bancshares in a research report on Wednesday. They set a “neutral” rating and a $20.25 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Northpointe Bancshares in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $19.83.

Northpointe Bancshares Company Profile

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.