Northpointe Bancshares (NYSE:NPB) Announces Earnings Results, Misses Estimates By $0.08 EPS

Northpointe Bancshares (NYSE:NPB) issued its quarterly earnings data on Tuesday. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.08), Zacks reports. Northpointe Bancshares had a return on equity of 12.43% and a net margin of 16.09%.

Northpointe Bancshares Stock Performance

NYSE:NPB traded down $0.74 during trading hours on Tuesday, reaching $18.05. The company had a trading volume of 709,148 shares, compared to its average volume of 618,629. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.39 and a quick ratio of 1.34. Northpointe Bancshares has a 1-year low of $11.43 and a 1-year high of $19.22. The business’s 50 day moving average price is $17.25 and its 200-day moving average price is $16.76. The firm has a market cap of $620.25 million and a PE ratio of 11.50.

Northpointe Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 3rd. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.6%. Northpointe Bancshares’s dividend payout ratio (DPR) is presently 6.37%.

Analyst Ratings Changes

A number of research firms have recently weighed in on NPB. Piper Sandler raised their price target 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 report on Monday, December 29th. Two investment analysts have 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, the stock presently has an average rating of “Hold” and an average target price of $19.08.

Hedge Funds Weigh In On Northpointe Bancshares

Several large investors have recently made changes to their positions in NPB. Adage Capital Partners GP L.L.C. raised its position in shares of Northpointe Bancshares by 122.0% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,694,728 shares of the company’s stock valued at $23,235,000 after buying an additional 931,240 shares during the last quarter. Goldman Sachs Group Inc. acquired a new stake in Northpointe Bancshares in the 1st quarter valued at about $9,908,000. Vanguard Group Inc. lifted its stake in Northpointe Bancshares by 84.1% in the 3rd quarter. Vanguard Group Inc. now owns 1,063,156 shares of the company’s stock worth $18,159,000 after purchasing an additional 485,525 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Northpointe Bancshares by 462.4% during the 3rd quarter. Millennium Management LLC now owns 373,891 shares of the company’s stock worth $6,386,000 after purchasing an additional 307,409 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Northpointe Bancshares by 138.9% in the second 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.

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.