David Stevens Hooker Sells 7,500 Shares of Northpointe Bancshares (NYSE:NPB) Stock

Key Points

• Director David Stevens Hooker sold 7,500 shares of Northpointe Bancshares at an average price of $19.30, totaling $144,750. After the sale, he still held 10,500 shares, and the transaction was made under a pre-arranged Rule 10b5-1 plan.
• Northpointe Bancshares recently reported mixed results, with quarterly EPS of $0.62, missing analyst expectations of $0.66, on revenue of $63.42 million. Analysts currently expect the company to earn 2.72 EPS for the full year.
• Wall Street sentiment remains cautious, with an average analyst rating of “Hold” and an average price target of $20.50. The stock was trading at $18.85, near its 52-week high of $19.71, and the company also pays a small quarterly dividend of $0.025 per share.

Northpointe Bancshares, Inc. (NYSE:NPB - Get Free Report) Director David Stevens Hooker sold 7,500 shares of the firm's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $19.30, for a total value of $144,750.00. Following the completion of the transaction, the director owned 10,500 shares in the company, valued at $202,650. The trade was a 41.67% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

David Stevens Hooker also recently made the following trade(s):

• On Tuesday, June 9th, David Stevens Hooker sold 2,351 shares of Northpointe Bancshares stock. The stock was sold at an average price of $17.70, for a total transaction of $41,612.70.
• On Monday, June 8th, David Stevens Hooker sold 739 shares of Northpointe Bancshares stock. The shares were sold at an average price of $17.52, for a total transaction of $12,947.28.
• On Friday, June 5th, David Stevens Hooker sold 285 shares of Northpointe Bancshares stock. The stock was sold at an average price of $17.52, for a total transaction of $4,993.20.
• On Tuesday, June 2nd, David Stevens Hooker sold 4,125 shares of Northpointe Bancshares stock. The shares were sold at an average price of $17.50, for a total transaction of $72,187.50.
• On Friday, May 1st, David Stevens Hooker sold 7,500 shares of Northpointe Bancshares stock. The shares were sold at an average price of $17.82, for a total transaction of $133,650.00.

Northpointe Bancshares Price Performance

NPB traded down $0.46 during trading on Thursday, reaching $18.85. The company's stock had a trading volume of 269,102 shares, compared to its average volume of 244,482. The company has a market cap of $651.97 million and a price-to-earnings ratio of 8.49. The firm has a fifty day simple moving average of $17.72 and a two-hundred day simple moving average of $17.68. Northpointe Bancshares, Inc. has a 1 year low of $13.66 and a 1 year high of $19.71. The company has a quick ratio of 1.38, a current ratio of 1.44 and a debt-to-equity ratio of 2.96.

Northpointe Bancshares (NYSE:NPB - Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.04). The company had revenue of $63.42 million during the quarter. Northpointe Bancshares had a net margin of 17.92% and a return on equity of 14.80%. As a group, analysts anticipate that Northpointe Bancshares, Inc. will post 2.72 EPS for the current year.

Northpointe Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Wednesday, April 15th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Wednesday, April 15th. Northpointe Bancshares's payout ratio is currently 4.50%.

Hedge Funds Weigh In On Northpointe Bancshares

Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. raised its holdings in Northpointe Bancshares by 118.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 123,408 shares of the company's stock valued at $2,108,000 after buying an additional 66,798 shares during the period. Boothbay Fund Management LLC boosted its position in shares of Northpointe Bancshares by 28.0% during the 3rd quarter. Boothbay Fund Management LLC now owns 202,765 shares of the company's stock worth $3,463,000 after purchasing an additional 44,315 shares during the period. Quantbot Technologies LP acquired a new stake in Northpointe Bancshares in the 3rd quarter valued at approximately $200,000. Pale Fire Capital SE purchased a new stake in Northpointe Bancshares in the first quarter valued at approximately $177,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Northpointe Bancshares in the first quarter valued at approximately $361,000.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NPB. Brean Capital assumed coverage on shares of Northpointe Bancshares in a research report on Wednesday, April 22nd. They set a "neutral" rating and a $20.25 price objective for the company. Weiss Ratings reiterated a "sell (d)" rating on shares of Northpointe Bancshares in a report 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 report on Thursday. One analyst has rated the stock with a Buy rating, two have assigned 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 an average price target of $20.50.

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.

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