Northpointe Bancshares (NYSE:NPB) Given New $19.50 Price Target at Piper Sandler

Key Points

• Piper Sandler lowered Northpointe Bancshares’ price target from $20.00 to $19.50 while maintaining an “overweight” rating, implying 28.72% upside from the $15.15 share price.
• Analyst sentiment is mixed, with two Buy, two Hold and one Sell rating; MarketBeat reports an overall “Hold” consensus and an average price target of $20.25.
• Northpointe reported quarterly EPS of $0.39, missing the $0.60 consensus estimate, while revenue reached $55.92 million. CEO Charles Williams separately purchased 48,312 shares, increasing his stake by 2.06%.

Northpointe Bancshares (NYSE:NPB - Get Free Report) had its price objective lowered by research analysts at Piper Sandler from $20.00 to $19.50 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Piper Sandler's target price points to a potential upside of 28.72% from the company's current price.

Other equities research analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods reduced their price target on shares of Northpointe Bancshares from $22.00 to $21.00 and set an "outperform" rating for the company in a research report on Thursday, July 23rd. Zacks Research raised Northpointe Bancshares from a "strong sell" rating to a "hold" rating in a research note on Monday, October 5th. Finally, Weiss Ratings upgraded Northpointe Bancshares from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, September 9th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Northpointe Bancshares has an average rating of "Hold" and a consensus target price of $20.25.

Northpointe Bancshares Stock Performance

Shares of NPB opened at $15.15 on Thursday. The stock has a market capitalization of $523.88 million, a PE ratio of 7.11 and a beta of 0.16. The business's fifty day moving average price is $16.33 and its 200 day moving average price is $17.33. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.40 and a quick ratio of 1.34. Northpointe Bancshares has a 12-month low of $13.80 and a 12-month high of $19.71.

Northpointe Bancshares (NYSE:NPB - Get Free Report) last issued its quarterly earnings data on Tuesday, October 20th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.21). Northpointe Bancshares had a return on equity of 13.88% and a net margin of 16.27%. The business had revenue of $55.92 million for the quarter. Equities research analysts forecast that Northpointe Bancshares will post 2.44 EPS for the current year.

Insider Activity

In related news, CEO Charles Williams purchased 48,312 shares of the business's stock in a transaction dated Wednesday, August 26th. The shares were bought at an average price of $16.95 per share, with a total value of $818,888.40. Following the purchase, the chief executive officer directly owned 2,390,962 shares in the company, valued at $40,526,805.90. This trade represents a 2.06% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 18.30% of the stock is owned by company insiders.

Institutional Trading of Northpointe Bancshares

A number of large investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue lifted its position in Northpointe Bancshares by 62.8% during the third quarter. State of Alaska Department of Revenue now owns 3,920 shares of the company's stock worth $57,000 after acquiring an additional 1,512 shares during the last quarter. Pale Fire Capital SE raised its stake in Northpointe Bancshares by 29.2% in the 2nd quarter. Pale Fire Capital SE now owns 13,258 shares of the company's stock worth $254,000 after purchasing an additional 3,000 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Northpointe Bancshares by 5.3% in the 1st quarter. Bank of New York Mellon Corp now owns 88,109 shares of the company's stock valued at $1,521,000 after purchasing an additional 4,451 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Northpointe Bancshares in the 1st quarter valued at about $172,000. Finally, WINTON GROUP Ltd acquired a new position in shares of Northpointe Bancshares during the 2nd quarter worth approximately $218,000.

Northpointe Bancshares Company Profile

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.

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