Piper Sandler Has Lowered Expectations for Northpointe Bancshares (NYSE:NPB) Stock Price

Key Points

• Piper Sandler lowered Northpointe Bancshares’ price target to $20.00 from $21.50 while maintaining an “overweight” rating, implying approximately 25.75% upside from the stock’s $15.90 price.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average target price of $20.42. Northpointe recently reported quarterly EPS of $0.60, below the $0.68 consensus estimate.
• CEO Charles Williams purchased 48,312 shares worth about $818,888, increasing his stake by 2.06%; insiders collectively own 18.30% of the company.

Northpointe Bancshares (NYSE:NPB - Get Free Report) had its target price dropped by equities research analysts at Piper Sandler from $21.50 to $20.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Piper Sandler's target price points to a potential upside of 25.75% from the company's current price.

NPB has been the subject of a number of other reports. Weiss Ratings upgraded shares of Northpointe Bancshares from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, September 9th. Zacks Research raised shares of Northpointe Bancshares from a "strong sell" rating to a "hold" rating in a research note on Monday. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Northpointe Bancshares from $22.00 to $21.00 and set an "outperform" rating on the stock in a research report on Thursday, July 23rd. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $20.42.

Northpointe Bancshares Price Performance

NYSE:NPB traded up $0.21 during trading hours on Friday, reaching $15.90. 83,919 shares of the company traded hands, compared to its average volume of 234,762. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.40 and a quick ratio of 1.34. The firm's 50-day moving average is $16.62 and its 200-day moving average is $17.42. The stock has a market cap of $549.99 million, a P/E ratio of 6.89 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 quarterly earnings data on Tuesday, July 21st. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate 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 14.99%. Equities research analysts expect that Northpointe Bancshares will post 2.48 earnings per share for the current fiscal year.

Insider Transactions at Northpointe Bancshares

In related news, CEO Charles Williams purchased 48,312 shares of the company's stock in a transaction that occurred on Wednesday, August 26th. The stock was purchased at an average price of $16.95 per share, with a total value of $818,888.40. Following the completion of the transaction, the chief executive officer owned 2,390,962 shares of the company's stock, valued at approximately $40,526,805.90. This trade represents a 2.06% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 NPB. WINTON GROUP Ltd purchased a new position in shares of Northpointe Bancshares in the 2nd quarter worth about $218,000. Squarepoint Ops LLC purchased a new position in Northpointe Bancshares in the second quarter valued at approximately $765,000. Pale Fire Capital SE lifted its position in Northpointe Bancshares by 29.2% during the second 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 in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Northpointe Bancshares during the second quarter worth approximately $191,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Northpointe Bancshares in the second quarter worth $1,756,000.

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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