Northpointe Bancshares (NYSE:NPB) Announces Quarterly Earnings Results, Misses Expectations By $0.21 EPS

Northpointe Bancshares (NYSE:NPB) announced its earnings results on Tuesday. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.21), Zacks reports. Northpointe Bancshares had a net margin of 17.72% and a return on equity of 14.99%.

Northpointe Bancshares Stock Up 3.1%

Shares of NPB stock traded up $0.48 during trading on Tuesday, hitting $15.80. 287,289 shares of the company were exchanged, compared to its average volume of 238,724. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.34 and a current ratio of 1.40. The firm has a market capitalization of $546.36 million, a price-to-earnings ratio of 6.84 and a beta of 0.16. The business’s 50-day simple moving average is $16.40 and its 200 day simple moving average is $17.36. Northpointe Bancshares has a twelve month low of $14.20 and a twelve month high of $19.71.

Northpointe Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 4th. Stockholders of record on Thursday, October 15th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.8%. This is a positive change from Northpointe Bancshares’s previous quarterly dividend of $0.0250. The ex-dividend date of this dividend is Thursday, October 15th. Northpointe Bancshares’s payout ratio is currently 5.19%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NPB. Zacks Research upgraded shares of Northpointe Bancshares from a “strong sell” rating to a “hold” rating in a research report on Monday, October 5th. Piper Sandler dropped their price target on Northpointe Bancshares from $21.50 to $20.00 and set an “overweight” rating on the stock in a report on Friday, October 9th. Weiss Ratings upgraded Northpointe Bancshares from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, September 9th. Finally, Keefe, Bruyette & Woods cut their price objective on Northpointe Bancshares from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Thursday, July 23rd. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $20.42.

Insider Activity at Northpointe Bancshares

In related news, CEO Charles Williams purchased 48,312 shares of the company’s stock in a transaction dated Wednesday, August 26th. The shares were acquired at an average cost of $16.95 per share, with a total value of $818,888.40. Following the completion of the purchase, the chief executive officer owned 2,390,962 shares of the company’s stock, valued at $40,526,805.90. The trade was a 2.06% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 18.30% of the stock is currently owned by corporate insiders.

About Northpointe Bancshares

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 and lending services to consumers and businesses.

Northpointe Bank offers residential mortgage products, including loans for home purchases and refinancing, as well as home equity lending. Its deposit products include checking, savings, money market and certificate of deposit accounts. The bank also provides personal and commercial banking services designed to meet the borrowing, cash-management and deposit needs of individuals and businesses.

Through a combination of digital banking capabilities, mortgage lending channels and its physical banking presence, Northpointe serves customers in Michigan and markets across the United States.