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

Northpointe Bancshares, Inc. (NYSE:NPB) saw a large increase in short interest in the month of May. As of May 29th, there was short interest totaling 428,777 shares, an increase of 60.7% from the May 14th total of 266,872 shares. Based on an average trading volume of 113,643 shares, the short-interest ratio is presently 3.8 days. Currently, 1.5% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

NPB has been the topic of several recent analyst reports. Brean Capital initiated coverage on shares of Northpointe Bancshares in a research report on Wednesday, April 22nd. They set a “neutral” rating and a $20.25 price objective on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Northpointe Bancshares in a research report on Friday, May 29th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $19.83.

Insider Buying and Selling

In other Northpointe Bancshares news, Director David Stevens Hooker sold 2,351 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $17.70, for a total transaction of $41,612.70. Following the sale, the director owned 11,000 shares in the company, valued at approximately $194,700. This trade represents a 17.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles Alan Williams bought 25,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were purchased at an average price of $17.21 per share, for a total transaction of $430,250.00. Following the purchase, 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 position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have sold 15,000 shares of company stock worth $265,391. 18.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Northpointe Bancshares

Several large investors have recently bought and sold shares of NPB. Cubist Systematic Strategies LLC bought a new stake in Northpointe Bancshares in the first quarter worth $26,000. State of Alaska Department of Revenue bought a new stake in Northpointe Bancshares in the fourth quarter worth $40,000. State of Wyoming bought a new stake in Northpointe Bancshares in the second quarter worth $54,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Northpointe Bancshares in the second quarter worth $79,000. Finally, Police & Firemen s Retirement System of New Jersey increased its position in Northpointe Bancshares by 131.2% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 5,524 shares of the company’s stock worth $93,000 after purchasing an additional 3,135 shares during the last quarter.

Northpointe Bancshares Trading Up 0.8%

Northpointe Bancshares stock opened at $17.94 on Thursday. The stock has a market cap of $620.40 million, a P/E ratio of 8.08 and a beta of 0.12. 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 has a 1 year low of $12.90 and a 1 year high of $19.48. The firm’s 50 day moving average price is $17.75 and its 200-day moving average price is $17.62.

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

Northpointe Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Wednesday, April 15th were given a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.6%. The ex-dividend date was Wednesday, April 15th. Northpointe Bancshares’s payout ratio is currently 4.50%.

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.