Northpointe Bancshares, Inc. (NYSE:NPB) Short Interest Update

Northpointe Bancshares, Inc. (NYSE:NPB) saw a large drop in short interest in June. As of June 30th, there was short interest totaling 325,523 shares, a drop of 35.1% from the June 15th total of 501,200 shares. Based on an average daily volume of 265,465 shares, the short-interest ratio is presently 1.2 days. Currently, 1.2% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

NPB has been the topic of several analyst reports. Brean Capital started coverage on shares of Northpointe Bancshares in a research note on Wednesday, April 22nd. They issued a “neutral” rating and a $20.25 price objective on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Northpointe Bancshares in a research report on Friday, May 29th. Finally, Piper Sandler lifted their price target on shares of Northpointe Bancshares from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, July 2nd. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $20.50.

Northpointe Bancshares Trading Down 1.8%

Shares of Northpointe Bancshares stock opened at $18.82 on Friday. The company has a debt-to-equity ratio of 2.96, a quick ratio of 1.38 and a current ratio of 1.44. Northpointe Bancshares has a 52 week low of $14.11 and a 52 week high of $19.71. The stock has a 50 day moving average price of $17.97 and a two-hundred day moving average price of $17.78. The stock has a market capitalization of $650.80 million and a PE ratio of 8.48.

Northpointe Bancshares (NYSE:NPB) last issued its earnings results 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). Northpointe Bancshares had a return on equity of 14.80% and a net margin of 17.92%.The firm had revenue of $63.42 million for the quarter. As a group, equities analysts anticipate that Northpointe Bancshares will post 2.72 earnings per share for the current fiscal year.

Northpointe Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 4th. Stockholders of record on Wednesday, July 15th will be issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Wednesday, July 15th. Northpointe Bancshares’s dividend payout ratio (DPR) is currently 4.50%.

Insider Buying and Selling

In related news, CEO Charles Alan Williams acquired 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was acquired at an average price of $17.21 per share, with a total value of $430,250.00. Following the purchase, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director David Stevens Hooker sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $19.30, for a total transaction of $144,750.00. Following the completion of the sale, the director owned 10,500 shares in the company, valued at $202,650. This represents a 41.67% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 22,500 shares of company stock worth $410,141. 18.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Northpointe Bancshares

Hedge funds have recently bought and sold shares of the company. Cubist Systematic Strategies LLC purchased a new stake in shares of Northpointe Bancshares in the first quarter valued at about $26,000. Goldman Sachs Group Inc. bought a new stake in Northpointe Bancshares in the 1st quarter worth about $9,908,000. Jane Street Group LLC bought a new stake in Northpointe Bancshares in the 1st quarter worth about $146,000. Geode Capital Management LLC increased its stake in Northpointe Bancshares by 138.9% in the 2nd quarter. Geode Capital Management LLC now owns 234,789 shares of the company’s stock valued at $3,220,000 after buying an additional 136,490 shares during the last quarter. Finally, JPMorgan Chase & Co. purchased a new stake in Northpointe Bancshares in the 2nd quarter valued at about $776,000.

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.