Northpointe Bancshares (NYSE:NPB) Stock: Insider Rajeev Kumar Chaudhary Buys 3,000 Shares

Key Points

• Insider buying: Director Rajeev Kumar Chaudhary purchased 3,000 Northpointe Bancshares shares at $15.80 each, investing $47,400 and becoming the owner of 3,000 shares.
• Financial performance: The company reported quarterly earnings of $0.39 per share, missing the $0.60 consensus estimate, while generating $55.92 million in revenue.
• Dividend and analyst outlook: Northpointe raised its quarterly dividend to $0.03, an annualized yield of 0.7%. Analysts’ consensus rating remains “Hold,” with an average price target of $20.25 versus the stock’s reported price of $16.20.

Northpointe Bancshares, Inc. (NYSE:NPB - Get Free Report) Director Rajeev Kumar Chaudhary purchased 3,000 shares of the business's stock in a transaction dated Wednesday, October 28th. The stock was bought at an average cost of $15.80 per share, with a total value of $47,400.00. Following the completion of the acquisition, the director owned 3,000 shares of the company's stock, valued at approximately $47,400. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Northpointe Bancshares Price Performance

Northpointe Bancshares stock traded up $0.01 during midday trading on Thursday, reaching $16.20. 345,416 shares of the company were exchanged, compared to its average volume of 244,182. The firm's 50-day simple moving average is $16.16 and its 200-day simple moving average is $17.36. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.34 and a current ratio of 1.40. The company has a market capitalization of $560.23 million, a price-to-earnings ratio of 7.61 and a beta of 0.16. Northpointe Bancshares, Inc. has a 1 year low of $13.80 and a 1 year high of $19.71.

Northpointe Bancshares (NYSE:NPB - Get Free Report) last released 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). Northpointe Bancshares had a return on equity of 13.88% and a net margin of 16.27%. The firm had revenue of $55.92 million during the quarter. On average, analysts anticipate that Northpointe Bancshares, Inc. will post 1.80 EPS for the current year.

Northpointe Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 4th. Shareholders of record on Thursday, October 15th will be issued a $0.03 dividend. 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 0.7%. Northpointe Bancshares's dividend payout ratio (DPR) is 5.63%.

Analyst Upgrades and Downgrades

NPB has been the topic of several research reports. Piper Sandler cut their price target on shares of Northpointe Bancshares from $20.00 to $19.50 and set an "overweight" rating on the stock in a report on Thursday, October 22nd. Zacks Research upgraded Northpointe Bancshares from a "strong sell" rating to a "hold" rating in a report on Monday, October 5th. Keefe, Bruyette & Woods cut their price objective on Northpointe Bancshares from $22.00 to $21.00 and set an "outperform" rating on the stock in a research report on Thursday, July 23rd. Finally, Weiss Ratings upgraded shares of Northpointe Bancshares from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, September 9th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $20.25.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue grew its position in shares of Northpointe Bancshares by 62.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 3,920 shares of the company's stock worth $57,000 after acquiring an additional 1,512 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Northpointe Bancshares during the 1st quarter valued at approximately $172,000. Pale Fire Capital SE acquired a new stake in shares of Northpointe Bancshares during the 1st quarter valued at approximately $177,000. WINTON GROUP Ltd bought a new position in Northpointe Bancshares during the second quarter worth $218,000. Finally, Sterling Capital Management LLC lifted its stake in Northpointe Bancshares by 1,109.6% during the first quarter. Sterling Capital Management LLC now owns 14,310 shares of the company's stock worth $247,000 after purchasing an additional 13,127 shares during the last quarter.

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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