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

Key Points

• Zacks Research downgraded Northpointe Bancshares from “hold” to “strong sell.” Other analyst views are mixed, and MarketBeat reports a consensus “hold” rating with an average price target of $20.25.
• The company reported quarterly EPS of $0.39, missing analysts’ $0.60 consensus estimate; revenue was $55.92 million.
• Insiders bought 196,552 shares worth about $3.15 million over the past 90 days, while shares opened at $16.14 on Tuesday.

Northpointe Bancshares (NYSE:NPB - Get Free Report) was downgraded by investment analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued on Tuesday, Zacks reports.

Several other analysts also recently issued reports on NPB. Piper Sandler reduced their price target on shares of Northpointe Bancshares from $20.00 to $19.50 and set an "overweight" rating for the company in a research report on Thursday, October 22nd. Keefe, Bruyette & Woods lowered their price objective on shares of Northpointe Bancshares from $22.00 to $21.00 and set an "outperform" rating on the stock in a report on Thursday, July 23rd. Finally, Weiss Ratings raised shares of Northpointe Bancshares from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, September 9th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $20.25.

Northpointe Bancshares Stock Up 2.5%

Shares of NYSE:NPB opened at $16.14 on Tuesday. The business's 50 day simple moving average is $16.04 and its two-hundred day simple moving average is $17.32. The firm has a market cap of $558.29 million, a P/E ratio of 7.39 and a beta of 0.09. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.34 and a current ratio of 1.40. Northpointe Bancshares has a 52-week low of $13.80 and a 52-week high of $19.71.

Northpointe Bancshares (NYSE:NPB - Get Free Report) last announced its quarterly earnings data on Tuesday, October 20th. The company reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.60 by ($0.21). The firm had revenue of $55.92 million during the quarter. Northpointe Bancshares had a net margin of 16.27% and a return on equity of 13.88%. As a group, research analysts forecast that Northpointe Bancshares will post 1.80 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Carrie L. Boer acquired 12,000 shares of the company's stock in a transaction on Friday, October 23rd. The shares were acquired at an average cost of $15.40 per share, for a total transaction of $184,800.00. Following the purchase, the director owned 12,000 shares in the company, valued at approximately $184,800. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Rajeev Kumar Chaudhary acquired 3,000 shares of the company's stock in a transaction on Wednesday, October 28th. The shares were bought at an average price of $15.80 per share, for a total transaction of $47,400.00. Following the completion of the purchase, the director owned 3,000 shares in the company, valued at approximately $47,400. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 196,552 shares of company stock worth $3,146,387 in the last ninety days. Corporate insiders own 18.30% of the company's stock.

Institutional Trading of Northpointe Bancshares

Several institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue boosted its holdings 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 purchasing an additional 1,512 shares during the last quarter. Pale Fire Capital SE increased 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 valued at $254,000 after buying an additional 3,000 shares during the last quarter. Bank of New York Mellon Corp increased its stake 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 buying an additional 4,451 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Northpointe Bancshares in the 2nd quarter valued at about $191,000. Finally, WINTON GROUP Ltd bought a new position in shares of Northpointe Bancshares during the 2nd quarter worth approximately $218,000.

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 products and lending services to individuals, families, and businesses.

Northpointe Bank offers residential mortgage loans, including home purchase and refinancing products, as well as consumer deposit accounts such as checking, savings, and certificates of deposit. The bank also provides commercial banking services and business loans, serving customers through a combination of digital banking capabilities and banking offices.

Founded in 1999, Northpointe Bank serves customers across the United States, with a particular emphasis on mortgage lending and relationship-based banking.

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