Insider Buying: Northpointe Bancshares (NYSE:NPB) COO Purchases 3,240 Shares of Stock

Key Points

• Insider buying: COO Joseph Long purchased 3,240 Northpointe Bancshares shares at an average price of $15.37, investing approximately $49,799 and bringing his ownership to 3,240 shares.
• Mixed financial performance: The stock recently traded at $15.72, while quarterly earnings of $0.39 per share missed the $0.60 consensus estimate. Analysts maintain an average “Hold” rating with a $20.25 price target.
• Shareholder returns increased: Northpointe raised its quarterly dividend to $0.03 per share, equivalent to a 0.8% annualized yield, and announced a $30 million stock-repurchase program.

Northpointe Bancshares, Inc. (NYSE:NPB - Get Free Report) COO Joseph Long purchased 3,240 shares of the firm's stock in a transaction dated Friday, October 23rd. The stock was purchased at an average cost of $15.37 per share, for a total transaction of $49,798.80. Following the acquisition, the chief operating officer owned 3,240 shares of the company's stock, valued at approximately $49,798.80. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Northpointe Bancshares Price Performance

Shares of NPB stock traded up $0.49 on Tuesday, reaching $15.72. The company's stock had a trading volume of 372,532 shares, compared to its average volume of 242,782. The company has a quick ratio of 1.34, a current ratio of 1.40 and a debt-to-equity ratio of 2.66. Northpointe Bancshares, Inc. has a 12-month low of $13.80 and a 12-month high of $19.71. The company has a market capitalization of $543.60 million, a P/E ratio of 7.38 and a beta of 0.16. The stock's 50 day simple moving average is $16.26 and its 200-day simple moving average is $17.39.

Northpointe Bancshares (NYSE:NPB - Get Free Report) last posted its earnings results on Tuesday, October 20th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.21). The business had revenue of $55.92 million for the quarter. Northpointe Bancshares had a return on equity of 13.88% and a net margin of 16.27%. As a group, equities analysts predict that Northpointe Bancshares, Inc. will post 1.80 earnings per share for the current fiscal year.

Northpointe Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 4th. Stockholders of record on Thursday, October 15th will be given a dividend of $0.03 per share. This is a boost from Northpointe Bancshares's previous quarterly dividend of $0.0250. The ex-dividend date is Thursday, October 15th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.8%. Northpointe Bancshares's dividend payout ratio is 5.63%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Piper Sandler decreased their price objective on shares of Northpointe Bancshares from $20.00 to $19.50 and set an "overweight" rating on the stock in a research report on Thursday, October 22nd. 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. Keefe, Bruyette & Woods dropped their target price on shares of Northpointe Bancshares from $22.00 to $21.00 and set an "outperform" rating for the company in a research report on Thursday, July 23rd. Finally, Zacks Research upgraded shares of Northpointe Bancshares from a "strong sell" rating to a "hold" rating in a research report on Monday, October 5th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $20.25.

Hedge Funds Weigh In On Northpointe Bancshares

Large investors have recently modified their holdings of the company. Bank of America Corp DE lifted 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 buying an additional 120,554 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Northpointe Bancshares in the second quarter worth approximately $1,756,000. Mendon Capital Advisors Corp grew its position in Northpointe Bancshares by 86.4% during the first quarter. Mendon Capital Advisors Corp now owns 308,624 shares of the company's stock valued at $5,327,000 after acquiring an additional 143,010 shares during the last quarter. Rockefeller Capital Management L.P. bought a new position in Northpointe Bancshares during the fourth quarter valued at approximately $965,000. Finally, Segall Bryant & Hamill LLC bought a new position in Northpointe Bancshares during the first quarter valued at approximately $1,515,000.

Key Headlines Impacting Northpointe Bancshares

Here are the key news stories impacting Northpointe Bancshares this week:

• Positive Sentiment: $30 million stock buyback: Northpointe Bancshares announced a $30 million common-stock repurchase program. Buybacks can support the share price, reduce shares outstanding, and potentially improve future earnings per share. MarketScreener article
• Positive Sentiment: CEO buying signals confidence: CEO Charles Williams purchased 100,000 shares across October 23 and October 26 for approximately $1.54 million. The purchases increased his direct ownership to 2,575,962 shares, aligning management financially with shareholders. InsiderTrades CEO profile
• Positive Sentiment: Additional insider purchases: Director Carrie L. Boer bought 12,000 shares for $184,800, while COO Joseph B. Long purchased 3,240 shares for approximately $49,800. Multiple insiders buying shares at prices near $15.40 may reinforce the perception that NPB is undervalued. SEC director filing
• Negative Sentiment: Fundamental caution remains: Northpointe’s latest reported quarterly earnings missed consensus expectations, so investors may view the buyback and insider buying as support for the valuation while continuing to monitor earnings recovery and credit conditions.

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 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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