Northpointe Bancshares (NYSE:NPB) Releases Quarterly Earnings Results

Key Points

• Northpointe Bancshares reported quarterly EPS of $0.39, missing the $0.60 consensus estimate by $0.21. The company posted a 14.99% return on equity and a 17.72% net margin.
• The stock rose 3.1% to $15.80 during Tuesday trading, while analysts maintained a consensus “Hold” rating with an average price target of $20.42.
• Northpointe increased its quarterly dividend to $0.03 per share from $0.025, implying a $0.12 annual payout and a 0.8% yield. CEO Charles Williams also purchased 48,312 shares, increasing his stake by 2.06%.

Northpointe Bancshares (NYSE:NPB - Get Free Report) released its quarterly earnings results on Tuesday. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.21), Zacks reports. Northpointe Bancshares had a return on equity of 14.99% and a net margin of 17.72%.

Northpointe Bancshares Stock Up 3.1%

NYSE NPB traded up $0.48 during mid-day trading on Tuesday, reaching $15.80. 287,289 shares of the company's stock traded hands, compared to its average volume of 238,724. Northpointe Bancshares has a 1-year low of $14.20 and a 1-year high of $19.71. The company has a fifty day simple moving average of $16.40 and a 200-day simple moving average of $17.36. 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 company has a market cap of $546.36 million, a price-to-earnings ratio of 6.84 and a beta of 0.16.

Northpointe Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 4th. Shareholders of record on Thursday, October 15th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, October 15th. This is an increase from Northpointe Bancshares's previous quarterly dividend of $0.0250. Northpointe Bancshares's dividend payout ratio is currently 5.19%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Zacks Research upgraded Northpointe Bancshares from a "strong sell" rating to a "hold" rating in a report on Monday, October 5th. Piper Sandler reduced their target price on Northpointe Bancshares from $21.50 to $20.00 and set an "overweight" rating on the stock in a report on Friday, October 9th. Keefe, Bruyette & Woods reduced their target price on 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 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 assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Northpointe Bancshares currently has a consensus rating of "Hold" and a consensus target price of $20.42.

Insider Activity

In other news, CEO Charles Williams bought 48,312 shares of Northpointe Bancshares stock in a transaction on 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 acquisition, the chief executive officer directly owned 2,390,962 shares in the company, valued at approximately $40,526,805.90. This represents a 2.06% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 18.30% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.