Northpointe Bancshares (NYSE:NPB) Stock Moved Up to "Hold" by Zacks Research

Key Points

• Zacks Research upgraded Northpointe Bancshares from “strong sell” to “hold.” Overall analyst sentiment is “Hold,” with a consensus price target of $21.08.
• Northpointe shares opened at $15.59, below their 50-day and 200-day moving averages, and have traded between $14.20 and $19.71 over the past year.
• The company reported quarterly EPS of $0.60, missing the $0.68 consensus estimate, while CEO Charles Williams purchased roughly $819,000 of stock; institutional investors have also increased or initiated positions.

Northpointe Bancshares (NYSE:NPB - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued on Monday, Zacks reports.

Several other equities analysts also recently commented on the company. Keefe, Bruyette & Woods cut their target price on Northpointe Bancshares from $22.00 to $21.00 and set an "outperform" rating for the company in a research report on Thursday, July 23rd. Weiss Ratings upgraded shares of Northpointe Bancshares from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, September 9th. Finally, Piper Sandler lifted their price target on shares of Northpointe Bancshares from $21.00 to $22.00 and gave the company an "overweight" rating in a report on Thursday, July 2nd. Two research analysts have 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, the company currently has a consensus rating of "Hold" and an average price target of $21.08.

Northpointe Bancshares Stock Performance

NPB opened at $15.59 on Monday. The stock's 50 day simple moving average is $16.69 and its 200-day simple moving average is $17.44. The company has a current ratio of 1.40, a quick ratio of 1.34 and a debt-to-equity ratio of 2.66. The stock has a market cap of $539.13 million, a PE ratio of 6.75 and a beta of 0.16. Northpointe Bancshares has a 1 year low of $14.20 and a 1 year high of $19.71.

Northpointe Bancshares (NYSE:NPB - Get Free Report) last issued 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). Northpointe Bancshares had a return on equity of 14.99% and a net margin of 17.72%.The firm had revenue of $64.32 million during the quarter. Sell-side analysts forecast that Northpointe Bancshares will post 2.48 EPS for the current year.

Insider Activity

In other Northpointe Bancshares news, CEO Charles Williams purchased 48,312 shares of the business's stock in a transaction that occurred on Wednesday, August 26th. The stock was acquired at an average cost of $16.95 per share, with a total value of $818,888.40. Following the completion of the acquisition, the chief executive officer directly owned 2,390,962 shares of the company's stock, valued at $40,526,805.90. This represents a 2.06% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 18.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Northpointe Bancshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jacobs Asset Management LLC grew its stake in shares of Northpointe Bancshares by 2.7% during the fourth quarter. Jacobs Asset Management LLC now owns 475,000 shares of the company's stock valued at $7,970,000 after purchasing an additional 12,500 shares during the last quarter. Mendon Capital Advisors Corp raised its position in Northpointe Bancshares by 86.4% in the 1st quarter. Mendon Capital Advisors Corp now owns 308,624 shares of the company's stock worth $5,327,000 after purchasing an additional 143,010 shares during the last quarter. Bank of America Corp DE raised its position in Northpointe Bancshares by 126.9% in the 1st 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 during the last quarter. Bank of New York Mellon Corp acquired a new position in Northpointe Bancshares during the 2nd quarter worth $1,756,000. Finally, Segall Bryant & Hamill LLC acquired a new position in Northpointe Bancshares during the 1st quarter worth $1,515,000.

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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