Northpointe Bancshares (NYSE:NPB) Sees Strong Trading Volume – Here’s What Happened

Northpointe Bancshares, Inc. (NYSE:NPB) shares saw an uptick in trading volume on Monday . 169,225 shares changed hands during trading, a decline of 29% from the previous session’s volume of 236,940 shares.The stock last traded at $17.2550 and had previously closed at $17.19.

Analysts Set New Price Targets

NPB has been the topic of a number of recent analyst reports. Piper Sandler boosted their price target on shares of Northpointe Bancshares from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, July 2nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Northpointe Bancshares in a research report on Friday, May 29th. Brean Capital started coverage on shares of Northpointe Bancshares in a research note on Wednesday, April 22nd. They set a “neutral” rating and a $20.25 target price for the company. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Northpointe Bancshares from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Thursday. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Northpointe Bancshares presently has a consensus rating of “Hold” and a consensus target price of $20.62.

Northpointe Bancshares Stock Down 0.1%

The firm has a 50 day moving average of $18.03 and a 200 day moving average of $17.82. The firm has a market cap of $593.91 million and a price-to-earnings ratio of 7.44. The company has a quick ratio of 1.38, a current ratio of 1.44 and a debt-to-equity ratio of 2.96.

Northpointe Bancshares (NYSE:NPB) last issued its earnings results on Tuesday, July 21st. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.08). Northpointe Bancshares had a return on equity of 15.10% and a net margin of 17.72%.The business had revenue of $64.32 million during the quarter. As a group, sell-side analysts predict that Northpointe Bancshares, Inc. will post 2.63 earnings per share for the current year.

Northpointe Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 4th. Stockholders 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 annualized dividend and a dividend yield of 0.6%. Northpointe Bancshares’s payout ratio is currently 4.33%.

Insiders Place Their Bets

In related news, CEO Charles Alan Williams purchased 25,000 shares of Northpointe Bancshares stock in a transaction on Tuesday, May 12th. The stock was acquired at an average cost 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 of the company’s stock, valued at $39,800,706.50. This trade represents a 1.09% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David Stevens Hooker sold 7,500 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $17.82, for a total transaction of $133,650.00. Following the completion of the sale, the director owned 11,500 shares of the company’s stock, valued at $204,930. The trade was a 39.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 22,500 shares of company stock worth $410,141 in the last quarter. 18.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Northpointe Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC acquired a new stake in shares of Northpointe Bancshares in the 1st quarter valued at about $26,000. State of Alaska Department of Revenue acquired a new position in Northpointe Bancshares during the 4th quarter worth approximately $40,000. State of Wyoming acquired a new position in Northpointe Bancshares during the 2nd quarter worth approximately $54,000. Police & Firemen s Retirement System of New Jersey boosted its holdings 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 acquiring an additional 3,135 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Northpointe Bancshares in the second quarter worth approximately $79,000.

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.