Northpointe Bancshares, Inc. (NYSE:NPB) Short Interest Down 31.9% in March

Northpointe Bancshares, Inc. (NYSE:NPB) was the target of a large decline in short interest in the month of March. As of March 31st, there was short interest totaling 306,983 shares, a decline of 31.9% from the March 15th total of 450,452 shares. Approximately 1.1% of the shares of the company are short sold. Based on an average daily trading volume, of 206,609 shares, the days-to-cover ratio is currently 1.5 days.

Analysts Set New Price Targets

A number of research firms have weighed in on NPB. Piper Sandler lifted their price objective on shares of Northpointe Bancshares from $19.50 to $20.00 and gave the company an “overweight” rating in a report on Monday, December 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Northpointe Bancshares in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Northpointe Bancshares currently has a consensus rating of “Hold” and a consensus price target of $19.63.

Northpointe Bancshares Price Performance

Shares of NYSE:NPB traded up $0.06 during midday trading on Tuesday, reaching $18.81. 56,711 shares of the company’s stock traded hands, compared to its average volume of 305,103. Northpointe Bancshares has a 1 year low of $11.43 and a 1 year high of $19.48. The company has a market cap of $648.69 million, a P/E ratio of 8.99 and a beta of 0.23. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.34 and a current ratio of 1.40. The company has a fifty day simple moving average of $17.60 and a two-hundred day simple moving average of $17.31.

Northpointe Bancshares (NYSE:NPB) last issued its quarterly earnings results on Tuesday, January 20th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.08). The company had revenue of $65.14 million during the quarter, compared to analysts’ expectations of $64.70 million. Northpointe Bancshares had a return on equity of 14.00% and a net margin of 17.70%.

Northpointe Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 4th. Investors of record on Wednesday, April 15th will be paid a $0.025 dividend. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a $0.10 dividend on an annualized basis and a yield of 0.5%. Northpointe Bancshares’s dividend payout ratio (DPR) is currently 4.78%.

Insider Transactions at Northpointe Bancshares

In related news, Director Richard Jeffery Dean sold 57,619 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $17.55, for a total transaction of $1,011,213.45. Following the sale, the director directly owned 557,171 shares of the company’s stock, valued at $9,778,351.05. This trade represents a 9.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles Alan Williams purchased 23,450 shares of Northpointe Bancshares stock in a transaction that occurred on Thursday, February 12th. The shares were bought at an average price of $16.88 per share, with a total value of $395,836.00. Following the completion of the transaction, the chief executive officer owned 54,896 shares of the company’s stock, valued at $926,644.48. This represents a 74.57% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold 73,895 shares of company stock worth $1,301,197 over the last quarter. 18.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Northpointe Bancshares

A number of hedge funds have recently made changes to their positions in NPB. Cubist Systematic Strategies LLC purchased a new position in shares of Northpointe Bancshares in the first quarter valued at approximately $26,000. Goldman Sachs Group Inc. acquired a new position in Northpointe Bancshares in the 1st quarter valued at $9,908,000. Jane Street Group LLC acquired a new position in Northpointe Bancshares in the 1st quarter valued at $146,000. Geode Capital Management LLC lifted its holdings in Northpointe Bancshares by 138.9% in the 2nd quarter. Geode Capital Management LLC now owns 234,789 shares of the company’s stock valued at $3,220,000 after purchasing an additional 136,490 shares in the last quarter. Finally, JPMorgan Chase & Co. purchased a new position in Northpointe Bancshares in the 2nd quarter valued at $776,000.

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.