Northpointe Bancshares (NYSE:NPB) Releases Earnings Results, Misses Expectations By $0.08 EPS

Northpointe Bancshares (NYSE:NPB) released its quarterly earnings results on Tuesday. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.08), Zacks reports. Northpointe Bancshares had a return on equity of 14.80% and a net margin of 17.92%.

Northpointe Bancshares Stock Down 0.5%

NYSE:NPB traded down $0.09 during mid-day trading on Tuesday, reaching $18.64. The stock had a trading volume of 131,689 shares, compared to its average volume of 235,301. The company has a market capitalization of $644.57 million and a price-to-earnings ratio of 8.40. Northpointe Bancshares has a 1-year low of $14.11 and a 1-year high of $19.71. The stock’s 50 day simple moving average is $18.00 and its two-hundred day simple moving average is $17.80. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.44 and a quick ratio of 1.38.

Northpointe Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 4th. Investors of record on Wednesday, July 15th will be paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Wednesday, July 15th. Northpointe Bancshares’s dividend payout ratio (DPR) is 4.50%.

Wall Street Analysts Forecast Growth

NPB has been the topic of several analyst reports. Brean Capital initiated coverage on Northpointe Bancshares in a report on Wednesday, April 22nd. They set a “neutral” rating and a $20.25 price objective on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Northpointe Bancshares in a research note on Friday, May 29th. Finally, Piper Sandler raised their price target on shares of Northpointe Bancshares from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, July 2nd. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Northpointe Bancshares presently has an average rating of “Hold” and a consensus price target of $20.50.

Insider Activity at Northpointe Bancshares

In other Northpointe Bancshares news, Director David Stevens Hooker sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $19.30, for a total transaction of $144,750.00. Following the sale, the director owned 10,500 shares in the company, valued at $202,650. This represents a 41.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles Alan Williams bought 25,000 shares of Northpointe Bancshares stock in a transaction on Tuesday, May 12th. The shares were purchased at an average cost of $17.21 per share, for a total transaction of $430,250.00. Following the acquisition, the chief executive officer owned 2,312,650 shares in the company, valued at $39,800,706.50. The trade was a 1.09% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 22,500 shares of company stock worth $410,141 in the last 90 days. 18.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Northpointe Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in the company. Man Group plc acquired a new stake in shares of Northpointe Bancshares during the fourth quarter worth $187,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Northpointe Bancshares in the 4th quarter valued at about $176,000. Graham Capital Management L.P. acquired a new position in shares of Northpointe Bancshares in the 4th quarter valued at about $322,000. MetLife Investment Management LLC boosted its holdings in shares of Northpointe Bancshares by 68.4% in the 4th quarter. MetLife Investment Management LLC now owns 11,871 shares of the company’s stock valued at $199,000 after buying an additional 4,823 shares during the period. Finally, Brevan Howard Capital Management LP bought a new stake in shares of Northpointe Bancshares during the 3rd quarter valued at about $174,000.

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.