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

Northpointe Bancshares, Inc. (NYSE:NPB) saw a large drop in short interest in the month of 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. Currently, 1.2% of the company’s stock are short sold. Based on an average daily volume of 265,465 shares, the days-to-cover ratio is presently 1.2 days.

Insider Buying and Selling

In other news, CEO Charles Alan Williams acquired 25,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was acquired at an average price of $17.21 per share, for a total transaction of $430,250.00. Following the completion of the acquisition, the chief executive officer owned 2,312,650 shares in the company, valued at $39,800,706.50. This trade represents a 1.09% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David Stevens Hooker sold 7,500 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $17.82, for a total value of $133,650.00. Following the completion of the transaction, the director owned 11,500 shares of the company’s stock, valued at approximately $204,930. This trade represents a 39.47% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 22,500 shares of company stock valued at $410,141. 18.30% of the stock is currently owned by company insiders.

Institutional Trading of Northpointe Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. lifted its stake in shares of Northpointe Bancshares by 122.0% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,694,728 shares of the company’s stock worth $23,235,000 after buying an additional 931,240 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in shares of Northpointe Bancshares during the first quarter valued at approximately $9,908,000. Vanguard Group Inc. raised its holdings in Northpointe Bancshares by 84.1% in the 3rd quarter. Vanguard Group Inc. now owns 1,063,156 shares of the company’s stock worth $18,159,000 after acquiring an additional 485,525 shares during the last quarter. Millennium Management LLC raised its holdings in Northpointe Bancshares by 462.4% in the 3rd quarter. Millennium Management LLC now owns 373,891 shares of the company’s stock worth $6,386,000 after acquiring an additional 307,409 shares during the last quarter. Finally, Mendon Capital Advisors Corp lifted its position in Northpointe Bancshares by 86.4% in the 1st quarter. Mendon Capital Advisors Corp now owns 308,624 shares of the company’s stock valued at $5,327,000 after acquiring an additional 143,010 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NPB. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Northpointe Bancshares in a research report on Friday, May 29th. Brean Capital assumed coverage on shares of Northpointe Bancshares in a research report on Wednesday, April 22nd. They set a “neutral” rating and a $20.25 price target for the company. Finally, Piper Sandler boosted their price objective on shares of Northpointe Bancshares from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, July 2nd. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $20.50.

Northpointe Bancshares Stock Down 2.0%

NPB stock traded down $0.38 on Friday, reaching $18.78. 28,395 shares of the company traded hands, compared to its average volume of 236,601. The firm has a fifty day simple moving average of $17.95 and a 200-day simple moving average of $17.78. The company has a market cap of $649.41 million and a P/E ratio of 8.46. Northpointe Bancshares has a one year low of $14.11 and a one year high of $19.71. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.44 and a quick ratio of 1.38.

Northpointe Bancshares (NYSE:NPB) last released its earnings results on Tuesday, April 21st. The company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.04). Northpointe Bancshares had a return on equity of 14.80% and a net margin of 17.92%.The company had revenue of $63.42 million during the quarter. Research analysts anticipate that Northpointe Bancshares will post 2.72 earnings per share for the current year.

Northpointe Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 4th. Investors of record on Wednesday, July 15th will be paid a $0.025 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $0.10 dividend on an annualized basis and a yield of 0.5%. Northpointe Bancshares’s payout ratio is presently 4.50%.

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.