Northpointe Bancshares (NYSE:NPB) Rating Lowered to Strong Sell at Zacks Research

Northpointe Bancshares (NYSE:NPB) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Piper Sandler raised their price objective on Northpointe Bancshares from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, July 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Northpointe Bancshares in a report on Friday, May 29th. Keefe, Bruyette & Woods lowered their target price on Northpointe Bancshares from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd. Finally, Brean Capital assumed coverage on Northpointe Bancshares in a research report on Wednesday, April 22nd. They issued a “neutral” rating and a $20.25 target price for the company. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $20.62.

Northpointe Bancshares Price Performance

Shares of NYSE:NPB opened at $17.32 on Tuesday. The company has a market cap of $599.10 million and a price-to-earnings ratio of 7.50. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.44 and a quick ratio of 1.38. The firm has a 50 day simple moving average of $18.03 and a 200 day simple moving average of $17.82. Northpointe Bancshares has a one year low of $14.27 and a one year high of $19.71.

Northpointe Bancshares (NYSE:NPB) last issued its earnings results on Tuesday, July 21st. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.08). The company had revenue of $64.32 million during the quarter. Northpointe Bancshares had a net margin of 17.72% and a return on equity of 15.10%. Research analysts predict that Northpointe Bancshares will post 2.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Northpointe Bancshares

In other Northpointe Bancshares news, CEO Charles Alan Williams purchased 25,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were bought at an average price of $17.21 per share, for a total transaction of $430,250.00. Following the completion of the acquisition, the chief executive officer owned 2,312,650 shares in the company, valued at approximately $39,800,706.50. This trade represents a 1.09% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David Stevens Hooker sold 7,500 shares of Northpointe Bancshares stock in a transaction on Friday, May 1st. The stock was sold at an average price of $17.82, for a total transaction of $133,650.00. Following the transaction, the director owned 11,500 shares in the company, valued at approximately $204,930. This trade represents a 39.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 22,500 shares of company stock valued at $410,141 in the last ninety days. Insiders own 18.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Segall Bryant & Hamill LLC bought a new stake in shares of Northpointe Bancshares in the 1st quarter valued at about $1,515,000. Bank of America Corp DE raised its position in shares of Northpointe Bancshares by 126.9% during the first quarter. Bank of America Corp DE now owns 215,544 shares of the company’s stock worth $3,720,000 after acquiring an additional 120,554 shares during the last quarter. Mendon Capital Advisors Corp raised its position in shares of Northpointe Bancshares by 86.4% during the first quarter. Mendon Capital Advisors Corp now owns 308,624 shares of the company’s stock worth $5,327,000 after acquiring an additional 143,010 shares during the last quarter. Pale Fire Capital SE acquired a new position in shares of Northpointe Bancshares in the first quarter worth approximately $177,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Northpointe Bancshares in the first quarter worth approximately $172,000.

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.