Northpointe Bancshares (NYSE:NPB) CEO Purchases 50,000 Shares of Company Stock

Northpointe Bancshares, Inc. (NYSE:NPB) CEO Charles Williams purchased 50,000 shares of the firm’s stock in a transaction on Friday, October 23rd. The stock was bought at an average price of $15.42 per share, with a total value of $771,000.00. Following the acquisition, the chief executive officer owned 2,525,962 shares in the company, valued at $38,950,334.04. This trade represents a 2.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Charles Alan Williams also recently made the following trade(s):

• On Monday, October 26th, Charles Williams acquired 50,000 shares of Northpointe Bancshares stock. The stock was purchased at an average cost of $15.32 per share, with a total value of $766,000.00.
• On Wednesday, August 26th, Charles Williams acquired 48,312 shares of Northpointe Bancshares stock. The shares were purchased at an average price of $16.95 per share, for a total transaction of $818,888.40.
• On Tuesday, August 25th, Charles Williams bought 30,000 shares of Northpointe Bancshares stock. The shares were purchased at an average cost of $16.95 per share, for a total transaction of $508,500.00.

Northpointe Bancshares Stock Up 3.2%

NPB traded up $0.49 on Tuesday, reaching $15.72. The company’s stock had a trading volume of 372,532 shares, compared to its average volume of 242,782. The stock has a market cap of $543.60 million, a price-to-earnings ratio of 7.38 and a beta of 0.16. Northpointe Bancshares, Inc. has a 1 year low of $13.80 and a 1 year high of $19.71. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.40 and a quick ratio of 1.34. The business’s 50 day moving average is $16.26 and its 200 day moving average is $17.39.

Northpointe Bancshares (NYSE:NPB) last posted its quarterly earnings data on Tuesday, October 20th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.21). Northpointe Bancshares had a return on equity of 13.88% and a net margin of 16.27%. The business had revenue of $55.92 million for the quarter. As a group, research analysts forecast that Northpointe Bancshares, Inc. will post 1.80 EPS for the current fiscal year.

Northpointe Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 4th. Investors of record on Thursday, October 15th will be issued a $0.03 dividend. This is a boost from Northpointe Bancshares’s previous quarterly dividend of $0.0250. This represents a $0.12 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, October 15th. Northpointe Bancshares’s dividend payout ratio is currently 5.63%.

Trending Headlines about Northpointe Bancshares

Here are the key news stories impacting Northpointe Bancshares this week:

• Positive Sentiment: $30 million stock buyback: Northpointe Bancshares announced a $30 million common-stock repurchase program. Buybacks can support the share price, reduce shares outstanding, and potentially improve future earnings per share. MarketScreener article
• Positive Sentiment: CEO buying signals confidence: CEO Charles Williams purchased 100,000 shares across October 23 and October 26 for approximately $1.54 million. The purchases increased his direct ownership to 2,575,962 shares, aligning management financially with shareholders. InsiderTrades CEO profile
• Positive Sentiment: Additional insider purchases: Director Carrie L. Boer bought 12,000 shares for $184,800, while COO Joseph B. Long purchased 3,240 shares for approximately $49,800. Multiple insiders buying shares at prices near $15.40 may reinforce the perception that NPB is undervalued. SEC director filing
• Negative Sentiment: Fundamental caution remains: Northpointe’s latest reported quarterly earnings missed consensus expectations, so investors may view the buyback and insider buying as support for the valuation while continuing to monitor earnings recovery and credit conditions.

Hedge Funds Weigh In On Northpointe Bancshares

A number of hedge funds have recently added to or reduced their stakes in NPB. State of Alaska Department of Revenue boosted its holdings in Northpointe Bancshares by 62.8% in the third quarter. State of Alaska Department of Revenue now owns 3,920 shares of the company’s stock worth $57,000 after purchasing an additional 1,512 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Northpointe Bancshares during the first quarter worth $172,000. Pale Fire Capital SE acquired a new stake in shares of Northpointe Bancshares during the first quarter worth $177,000. WINTON GROUP Ltd bought a new position in shares of Northpointe Bancshares in the 2nd quarter worth about $218,000. Finally, Sterling Capital Management LLC lifted its position in shares of Northpointe Bancshares by 1,109.6% in the 1st quarter. Sterling Capital Management LLC now owns 14,310 shares of the company’s stock worth $247,000 after buying an additional 13,127 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms have commented on NPB. Keefe, Bruyette & Woods reduced their price objective on shares of Northpointe Bancshares from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Thursday, July 23rd. Weiss Ratings raised shares of Northpointe Bancshares from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, September 9th. Piper Sandler cut their target price on shares of Northpointe Bancshares from $20.00 to $19.50 and set an “overweight” rating on the stock in a research note on Thursday, October 22nd. Finally, Zacks Research raised shares of Northpointe Bancshares from a “strong sell” rating to a “hold” rating in a research report on Monday, October 5th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $20.25.

About Northpointe Bancshares

Northpointe Bancshares, Inc is a bank holding company headquartered in Grand Rapids, Michigan. It operates through Northpointe Bank, a financial institution focused on providing banking products and lending services to individuals, families, and businesses.

Northpointe Bank offers residential mortgage loans, including home purchase and refinancing products, as well as consumer deposit accounts such as checking, savings, and certificates of deposit. The bank also provides commercial banking services and business loans, serving customers through a combination of digital banking capabilities and banking offices.

Founded in 1999, Northpointe Bank serves customers across the United States, with a particular emphasis on mortgage lending and relationship-based banking.