Northpointe Bancshares (NYSE:NPB) Issues Quarterly Earnings Results

Northpointe Bancshares (NYSE:NPB) posted its earnings results on Tuesday. The company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.04), Zacks reports. The company had revenue of $63.42 million for the quarter. Northpointe Bancshares had a return on equity of 14.00% and a net margin of 17.70%.

Northpointe Bancshares Stock Performance

Northpointe Bancshares stock traded down $0.71 during midday trading on Tuesday, hitting $18.48. The company’s stock had a trading volume of 153,332 shares, compared to its average volume of 294,843. The company has a debt-to-equity ratio of 2.70, a current ratio of 1.40 and a quick ratio of 1.34. The company has a market cap of $637.38 million, a price-to-earnings ratio of 8.84 and a beta of 0.23. Northpointe Bancshares has a 1-year low of $12.52 and a 1-year high of $19.48. The company has a 50-day moving average price of $17.77 and a two-hundred day moving average price of $17.36.

Northpointe Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 4th. Shareholders of record on Wednesday, April 15th will be paid a $0.025 dividend. The ex-dividend date is Wednesday, April 15th. This represents a $0.10 annualized dividend and a yield of 0.5%. Northpointe Bancshares’s payout ratio is 4.78%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NPB shares. Piper Sandler increased 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 reaffirmed a “sell (d-)” rating on shares of Northpointe Bancshares in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $19.63.

Insiders Place Their Bets

In related news, Director Richard Jeffery Dean sold 57,619 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $17.55, for a total value of $1,011,213.45. Following the completion of the sale, the director directly owned 557,171 shares in the company, valued at approximately $9,778,351.05. The trade was a 9.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Amy M. Butler sold 9,911 shares of the business’s stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $18.02, for a total value of $178,596.22. Following the completion of the sale, the executive vice president owned 6,365 shares of the company’s stock, valued at approximately $114,697.30. This trade represents a 60.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 73,895 shares of company stock worth $1,301,197 in the last quarter. Corporate insiders own 18.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Invesco Ltd. acquired a new position in Northpointe Bancshares in the fourth quarter valued at about $189,000. VARCOV Co. acquired a new stake in Northpointe Bancshares during the fourth quarter worth about $452,000. Occudo Quantitative Strategies LP increased its holdings in Northpointe Bancshares by 16.3% in the 4th quarter. Occudo Quantitative Strategies LP now owns 26,068 shares of the company’s stock valued at $437,000 after buying an additional 3,657 shares during the period. Man Group plc bought a new position in Northpointe Bancshares in the 4th quarter valued at about $187,000. Finally, Engineers Gate Manager LP raised its position in shares of Northpointe Bancshares by 2.0% in the 4th quarter. Engineers Gate Manager LP now owns 39,289 shares of the company’s stock valued at $659,000 after buying an additional 772 shares in the last quarter.

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.