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

Northpointe Bancshares, Inc. (NYSE:NPB) was the recipient of a significant drop in short interest during the month of January. As of January 30th, there was short interest totaling 377,234 shares, a drop of 23.5% from the January 15th total of 492,976 shares. Approximately 1.3% of the company’s shares are short sold. Based on an average daily volume of 482,191 shares, the days-to-cover ratio is currently 0.8 days. Based on an average daily volume of 482,191 shares, the days-to-cover ratio is currently 0.8 days. Approximately 1.3% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Northpointe Bancshares in a research note on Monday, December 29th. Piper Sandler increased their target price on shares of Northpointe Bancshares from $19.50 to $20.00 and gave the company an “overweight” rating in a research report on Monday, December 22nd. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Northpointe Bancshares presently has a consensus rating of “Hold” and an average price target of $19.08.

Northpointe Bancshares Trading Up 1.5%

Shares of Northpointe Bancshares stock traded up $0.26 on Monday, hitting $17.62. 313,063 shares of the company’s stock traded hands, compared to its average volume of 321,077. The company has a fifty day moving average of $17.52 and a two-hundred day moving average of $17.15. Northpointe Bancshares has a one year low of $11.43 and a one year high of $19.48. The company has a market capitalization of $605.43 million and a price-to-earnings ratio of 8.43. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.39 and a quick ratio of 1.34.

Northpointe Bancshares (NYSE:NPB) last released its quarterly earnings data on Tuesday, January 20th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.08). Northpointe Bancshares had a net margin of 17.70% and a return on equity of 13.79%. The company had revenue of $65.14 million during the quarter, compared to the consensus estimate of $64.70 million.

Northpointe Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 3rd. Stockholders of record on Thursday, January 15th were issued a dividend of $0.025 per share. The ex-dividend date was Thursday, January 15th. This represents a $0.10 annualized dividend and a dividend yield of 0.6%. Northpointe Bancshares’s dividend payout ratio is currently 4.78%.

Insider Transactions at Northpointe Bancshares

In other Northpointe Bancshares news, CEO Charles Alan Williams bought 23,450 shares of Northpointe Bancshares stock in a transaction on Thursday, February 12th. The shares were purchased at an average cost of $16.88 per share, with a total value of $395,836.00. Following the acquisition, the chief executive officer directly owned 54,896 shares of the company’s stock, valued at $926,644.48. The trade was a 74.57% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $111,387.50. The SEC filing for this sale provides additional information. Company insiders own 18.40% of the company’s stock.

Institutional Trading of Northpointe Bancshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jacobs Asset Management LLC raised its stake in Northpointe Bancshares by 2.7% during the 4th quarter. Jacobs Asset Management LLC now owns 475,000 shares of the company’s stock worth $7,970,000 after buying an additional 12,500 shares during the period. Barclays PLC increased its holdings in shares of Northpointe Bancshares by 259.3% during the fourth quarter. Barclays PLC now owns 64,780 shares of the company’s stock valued at $1,087,000 after acquiring an additional 46,750 shares in the last quarter. Walleye Capital LLC bought a new stake in shares of Northpointe Bancshares during the fourth quarter valued at approximately $515,000. First Trust Advisors LP raised its position in shares of Northpointe Bancshares by 2.5% during the fourth quarter. First Trust Advisors LP now owns 32,593 shares of the company’s stock worth $547,000 after purchasing an additional 790 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Northpointe Bancshares by 29.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 112,761 shares of the company’s stock worth $1,892,000 after purchasing an additional 25,540 shares in the last quarter.

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.