Northpointe Bancshares (NYSE:NPB) Announces Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Northpointe Bancshares (NYSE:NPB) issued its earnings results on Tuesday. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.08), Zacks reports. Northpointe Bancshares had a return on equity of 12.43% and a net margin of 16.09%.

Northpointe Bancshares Stock Down 3.9%

Shares of Northpointe Bancshares stock traded down $0.74 during trading hours on Tuesday, reaching $18.05. 709,148 shares of the company were exchanged, compared to its average volume of 618,629. The firm has a market cap of $620.25 million and a PE ratio of 11.50. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.34 and a current ratio of 1.39. Northpointe Bancshares has a 1 year low of $11.43 and a 1 year high of $19.22. The stock’s fifty day moving average is $17.25 and its 200 day moving average is $16.76.

Northpointe Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 3rd. Stockholders of record on Thursday, January 15th will be given a dividend of $0.025 per share. The ex-dividend date of this dividend is Thursday, January 15th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.6%. Northpointe Bancshares’s dividend payout ratio is currently 6.37%.

Hedge Funds Weigh In On Northpointe Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in NPB. BNP Paribas Financial Markets acquired a new stake in Northpointe Bancshares during the 2nd quarter worth $370,000. Bank of America Corp DE lifted its stake in Northpointe Bancshares by 51.4% in the second quarter. Bank of America Corp DE now owns 38,543 shares of the company’s stock valued at $528,000 after buying an additional 13,093 shares during the last quarter. Mendon Capital Advisors Corp boosted its holdings in shares of Northpointe Bancshares by 5.2% in the second quarter. Mendon Capital Advisors Corp now owns 224,050 shares of the company’s stock valued at $3,072,000 after acquiring an additional 10,980 shares during the period. Sei Investments Co. acquired a new position in shares of Northpointe Bancshares in the 2nd quarter valued at $356,000. Finally, Jump Financial LLC acquired a new position in Northpointe Bancshares in the second quarter valued at $317,000.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Piper Sandler raised their price target on shares of Northpointe Bancshares from $19.50 to $20.00 and gave the stock an “overweight” rating in a report on Monday, December 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Northpointe Bancshares in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $19.08.

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.