Northpointe Bancshares (NYSE:NPB) Price Target Cut to $20.00 by Analysts at Piper Sandler

Northpointe Bancshares (NYSE:NPB) had its price objective dropped by analysts at Piper Sandler from $21.50 to $20.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target points to a potential upside of 25.75% from the stock’s current price.

A number of other analysts have also issued reports on the stock. Weiss Ratings upgraded shares of Northpointe Bancshares from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, September 9th. Zacks Research raised shares of Northpointe Bancshares from a “strong sell” rating to a “hold” rating in a report on Monday. Finally, Keefe, Bruyette & Woods dropped their price target 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. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Northpointe Bancshares currently has a consensus rating of “Hold” and a consensus price target of $20.42.

Northpointe Bancshares Stock Up 1.4%

Shares of NYSE NPB traded up $0.21 on Friday, hitting $15.90. The company had a trading volume of 83,919 shares, compared to its average volume of 234,762. The company has a quick ratio of 1.34, a current ratio of 1.40 and a debt-to-equity ratio of 2.66. Northpointe Bancshares has a 12-month low of $14.20 and a 12-month high of $19.71. The firm has a market capitalization of $549.99 million, a P/E ratio of 6.89 and a beta of 0.16. The business has a 50 day moving average of $16.62 and a two-hundred day moving average of $17.42.

Northpointe Bancshares (NYSE:NPB) last announced its earnings results on Tuesday, July 21st. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.08). The company had revenue of $64.32 million for the quarter. Northpointe Bancshares had a net margin of 17.72% and a return on equity of 14.99%. As a group, equities research analysts forecast that Northpointe Bancshares will post 2.48 earnings per share for the current fiscal year.

Insider Activity at Northpointe Bancshares

In other Northpointe Bancshares news, CEO Charles Williams bought 48,312 shares of Northpointe Bancshares stock in a transaction dated Wednesday, August 26th. The stock was bought at an average cost of $16.95 per share, for a total transaction of $818,888.40. Following the purchase, the chief executive officer owned 2,390,962 shares in the company, valued at $40,526,805.90. This represents a 2.06% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 18.30% of the company’s stock.

Institutional Trading of Northpointe Bancshares

Several institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its stake in Northpointe Bancshares by 126.9% in the first quarter. Bank of America Corp DE now owns 215,544 shares of the company’s stock worth $3,720,000 after purchasing an additional 120,554 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Northpointe Bancshares during the 2nd quarter worth approximately $1,756,000. Mendon Capital Advisors Corp lifted its holdings in Northpointe Bancshares by 86.4% during the 1st quarter. Mendon Capital Advisors Corp now owns 308,624 shares of the company’s stock worth $5,327,000 after buying an additional 143,010 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new position in shares of Northpointe Bancshares in the 4th quarter worth approximately $965,000. Finally, Segall Bryant & Hamill LLC acquired a new position in shares of Northpointe Bancshares in the 1st quarter worth approximately $1,515,000.

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 and lending services to consumers and businesses.

Northpointe Bank offers residential mortgage products, including loans for home purchases and refinancing, as well as home equity lending. Its deposit products include checking, savings, money market and certificate of deposit accounts. The bank also provides personal and commercial banking services designed to meet the borrowing, cash-management and deposit needs of individuals and businesses.

Through a combination of digital banking capabilities, mortgage lending channels and its physical banking presence, Northpointe serves customers in Michigan and markets across the United States.