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

Northpointe Bancshares, Inc. (NYSE:NPB)’s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $15.40 and last traded at $15.5210, with a volume of 175775 shares. The stock had previously closed at $15.91.

Analysts Set New Price Targets

Several brokerages have recently commented on NPB. Weiss Ratings upgraded Northpointe Bancshares from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, September 9th. Keefe, Bruyette & Woods dropped their price target on Northpointe Bancshares from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Thursday, July 23rd. Zacks Research lowered Northpointe Bancshares from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. 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 research note on Thursday, July 2nd. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $21.08.

Northpointe Bancshares Price Performance

The stock has a market cap of $536.58 million, a PE ratio of 6.73 and a beta of 0.05. 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 business has a 50 day moving average price of $17.25 and a two-hundred day moving average price of $17.61.

Northpointe Bancshares (NYSE:NPB) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.08). Northpointe Bancshares had a return on equity of 14.99% and a net margin of 17.72%.The company had revenue of $64.32 million for the quarter. Research analysts expect that Northpointe Bancshares, Inc. will post 2.48 earnings per share for the current fiscal year.

Northpointe Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 4th. Stockholders of record on Wednesday, July 15th were given a $0.025 dividend. The ex-dividend date was Wednesday, July 15th. This represents a $0.10 annualized dividend and a dividend yield of 0.6%. Northpointe Bancshares’s payout ratio is 4.33%.

Insider Transactions at Northpointe Bancshares

In other news, CEO Charles Williams acquired 48,312 shares of Northpointe Bancshares stock in a transaction that occurred on Wednesday, August 26th. The stock was bought at an average price 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 in the company, valued at approximately $40,526,805.90. The trade was a 2.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David Hooker sold 7,500 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $19.30, for a total transaction of $144,750.00. Following the completion of the sale, the director owned 10,500 shares in the company, valued at $202,650. This represents a 41.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 18.30% of the company’s stock.

Institutional Investors Weigh In On Northpointe Bancshares

Several large investors have recently added to or reduced their stakes in the business. WINTON GROUP Ltd bought a new position in Northpointe Bancshares in the 2nd quarter worth about $218,000. Squarepoint Ops LLC bought a new stake in shares of Northpointe Bancshares during the 2nd quarter valued at about $765,000. Pale Fire Capital SE grew its holdings in shares of Northpointe Bancshares by 29.2% during the second quarter. Pale Fire Capital SE now owns 13,258 shares of the company’s stock worth $254,000 after purchasing an additional 3,000 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Northpointe Bancshares during the second quarter worth about $191,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Northpointe Bancshares in the second quarter worth approximately $1,756,000.

About Northpointe Bancshares

Northpointe Bancshares, Inc is a bank holding company headquartered in Grand Rapids, Michigan. Through its principal subsidiary, Northpointe Bank, the company provides consumer, residential mortgage and commercial banking services to individuals, families, entrepreneurs and businesses.

Northpointe Bank offers deposit products such as checking and savings accounts, money market accounts and certificates of deposit. Its lending activities include residential mortgages, home equity financing, personal loans, commercial real estate loans and other business financing.