Northpointe Bancshares (NYSE:NPB) Shares Gap Down Following Weak Earnings

Northpointe Bancshares, Inc. (NYSE:NPB)’s share price gapped down prior to trading on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $18.06, but opened at $17.59. Northpointe Bancshares shares last traded at $17.9750, with a volume of 450,623 shares changing hands.

The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.08). Northpointe Bancshares had a net margin of 16.09% and a return on equity of 12.43%. The business had revenue of $65.14 million for the quarter, compared to the consensus estimate of $64.70 million.

Northpointe Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 3rd. Stockholders of record on Thursday, January 15th will be paid a dividend of $0.025 per share. The ex-dividend date is Thursday, January 15th. This represents a $0.10 annualized dividend and a dividend yield of 0.6%. Northpointe Bancshares’s dividend payout ratio (DPR) is currently 6.37%.

Analyst Upgrades and Downgrades

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

Institutional Trading of Northpointe Bancshares

Several institutional investors have recently made changes to their positions in NPB. Boston Partners lifted its stake in shares of Northpointe Bancshares by 23.0% in the 2nd quarter. Boston Partners now owns 38,684 shares of the company’s stock valued at $530,000 after purchasing an additional 7,241 shares during the last quarter. Zhang Financial LLC purchased a new position in Northpointe Bancshares during the second quarter worth about $1,384,000. JPMorgan Chase & Co. increased its position in shares of Northpointe Bancshares by 118.0% during the third quarter. JPMorgan Chase & Co. now owns 123,408 shares of the company’s stock valued at $2,108,000 after acquiring an additional 66,798 shares during the last quarter. Boothbay Fund Management LLC increased its position in shares of Northpointe Bancshares by 28.0% during the third quarter. Boothbay Fund Management LLC now owns 202,765 shares of the company’s stock valued at $3,463,000 after acquiring an additional 44,315 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Northpointe Bancshares in the 3rd quarter worth approximately $200,000.

Northpointe Bancshares Price Performance

The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.34 and a current ratio of 1.39. The stock’s 50-day moving average is $17.29 and its two-hundred day moving average is $16.79. The stock has a market cap of $617.29 million and a PE ratio of 11.46.

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.