Northpointe Bancshares (NYSE:NPB) Cut to “Strong Sell” at Zacks Research

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

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

Northpointe Bancshares Trading Up 2.5%

Shares of Northpointe Bancshares stock opened at $16.14 on Tuesday. Northpointe Bancshares has a 1 year low of $13.80 and a 1 year high of $19.71. The firm has a market cap of $558.29 million, a PE ratio of 7.39 and a beta of 0.09. The stock has a fifty day moving average price of $16.04 and a 200-day moving average price of $17.32. 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 (NYSE:NPB) last issued its quarterly earnings results on Tuesday, October 20th. The company reported $0.39 earnings per share 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%. Equities research analysts anticipate that Northpointe Bancshares will post 1.80 EPS for the current year.

Insider Buying and Selling at Northpointe Bancshares

In other Northpointe Bancshares news, Director Carrie L. Boer bought 12,000 shares of the stock in a transaction on Friday, October 23rd. The shares were acquired at an average price of $15.40 per share, with a total value of $184,800.00. Following the acquisition, the director directly owned 12,000 shares of the company’s stock, valued at $184,800. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles Williams bought 50,000 shares of the company’s stock in a transaction on Monday, October 26th. The shares were bought at an average price of $15.32 per share, for a total transaction of $766,000.00. Following the transaction, the chief executive officer owned 2,575,962 shares of the company’s stock, valued at approximately $39,463,737.84. This represents a 1.98% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 196,552 shares of company stock valued at $3,146,387 over the last 90 days. 18.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Northpointe Bancshares

A number of large investors have recently made changes to their positions in NPB. Mendon Capital Advisors Corp grew its position in shares of Northpointe Bancshares by 86.4% in the first quarter. Mendon Capital Advisors Corp now owns 308,624 shares of the company’s stock valued at $5,327,000 after purchasing an additional 143,010 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Northpointe Bancshares by 126.9% during the 1st quarter. Bank of America Corp DE now owns 215,544 shares of the company’s stock valued at $3,720,000 after purchasing an additional 120,554 shares during the period. Bank of New York Mellon Corp purchased a new stake in Northpointe Bancshares during the 2nd quarter worth about $1,756,000. Segall Bryant & Hamill LLC purchased a new stake in Northpointe Bancshares during the 1st quarter worth about $1,515,000. Finally, Hsbc Holdings PLC lifted its holdings in Northpointe Bancshares by 22.3% during the 1st quarter. Hsbc Holdings PLC now owns 80,507 shares of the company’s stock worth $1,385,000 after purchasing an additional 14,655 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.