Northpointe Bancshares (NYSE:NPB) Reaches New 52-Week High – Here’s What Happened

Northpointe Bancshares, Inc. (NYSE:NPB)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $19.56 and last traded at $19.3960, with a volume of 115426 shares changing hands. The stock had previously closed at $19.18.

Analysts Set New Price Targets

NPB has been the subject of a number of research analyst reports. Brean Capital started coverage on shares of Northpointe Bancshares in a research report on Wednesday, April 22nd. They set a “neutral” rating and a $20.25 price objective for the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Northpointe Bancshares in a research note on Friday, May 29th. Finally, Piper Sandler raised their price objective on Northpointe Bancshares from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Northpointe Bancshares presently has an average rating of “Hold” and a consensus target price of $20.50.

Northpointe Bancshares Stock Performance

The company has a current ratio of 1.44, a quick ratio of 1.38 and a debt-to-equity ratio of 2.96. The company’s 50-day simple moving average is $17.73 and its 200-day simple moving average is $17.69. The stock has a market capitalization of $651.97 million and a price-to-earnings ratio of 8.49.

Northpointe Bancshares (NYSE:NPB) last issued its quarterly earnings results on Tuesday, April 21st. The company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.04). Northpointe Bancshares had a return on equity of 14.80% and a net margin of 17.92%.The business had revenue of $63.42 million for the quarter. On average, analysts expect that Northpointe Bancshares, Inc. will post 2.72 EPS for the current year.

Northpointe Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Wednesday, April 15th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, April 15th. Northpointe Bancshares’s dividend payout ratio (DPR) is currently 4.50%.

Insider Activity

In other Northpointe Bancshares news, Director David Stevens Hooker sold 7,500 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were 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 approximately $204,930. This represents a 39.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles Alan Williams bought 25,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were purchased at an average cost of $17.21 per share, with a total value of $430,250.00. Following the transaction, the chief executive officer directly owned 2,312,650 shares in the company, valued at approximately $39,800,706.50. This trade represents a 1.09% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 22,500 shares of company stock worth $410,141 over the last ninety days. Company insiders own 18.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NPB. Cubist Systematic Strategies LLC acquired a new position in Northpointe Bancshares in the first quarter valued at $26,000. State of Alaska Department of Revenue bought a new stake in shares of Northpointe Bancshares during the 4th quarter valued at about $40,000. State of Wyoming bought a new stake in shares of Northpointe Bancshares during the 2nd quarter valued at about $54,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Northpointe Bancshares during the 2nd quarter valued at about $79,000. Finally, Police & Firemen s Retirement System of New Jersey grew its stake in Northpointe Bancshares by 131.2% during 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 purchasing an additional 3,135 shares during the period.

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.