Northpointe Bancshares (NYSE:NPB) Price Target Raised to $19.50

Northpointe Bancshares (NYSE:NPB) had its price objective upped by Piper Sandler from $17.50 to $19.50 in a research report sent to investors on Wednesday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Several other research firms have also weighed in on NPB. Janney Montgomery Scott initiated coverage on shares of Northpointe Bancshares in a report on Thursday, August 28th. They issued a “neutral” rating and a $19.25 target price on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Northpointe Bancshares in a research report on Saturday, September 27th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $18.92.

Northpointe Bancshares Trading Down 4.5%

Shares of NPB stock opened at $16.61 on Wednesday. Northpointe Bancshares has a 12 month low of $11.43 and a 12 month high of $18.85. The stock has a 50 day moving average of $17.23 and a two-hundred day moving average of $14.97. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 2.16.

Northpointe Bancshares (NYSE:NPB) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $0.51 EPS for the quarter, hitting analysts’ consensus estimates of $0.51. The business had revenue of $58.96 million for the quarter, compared to the consensus estimate of $56.92 million.

Northpointe Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Wednesday, October 15th will be given a dividend of $0.025 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $0.10 annualized dividend and a yield of 0.6%.

Insiders Place Their Bets

In other Northpointe Bancshares news, Director David Stevens Hooker sold 65,161 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $18.21, for a total value of $1,186,581.81. Following the completion of the transaction, the director directly owned 834,879 shares in the company, valued at $15,203,146.59. This trade represents a 7.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 18.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Northpointe Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC bought a new stake in Northpointe Bancshares in the first quarter valued at approximately $26,000. Police & Firemen s Retirement System of New Jersey bought a new stake in Northpointe Bancshares in the 2nd quarter valued at $33,000. State of Wyoming bought a new position in Northpointe Bancshares during the second quarter worth $54,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Northpointe Bancshares in the second quarter valued at about $79,000. Finally, New York State Common Retirement Fund bought a new position in shares of Northpointe Bancshares in the second quarter valued at about $97,000.

Northpointe Bancshares Company Profile

Northpointe Bancshares, Inc operates as a bank holding company. It offers a nationwide mortgage purchase program, residential mortgage loans, digital deposit banking to retail customers and custodial deposit services. The company was founded by Charles A. Williams in 1998 and is headquartered in Grand Rapids, MI.